Assistance with Annual Filings
Please note the following important information as you claim your company’s property tax abatement this year. Failure to submit one or more of these forms in a timely manner can result in the loss of valuable property tax deductions.
Annual Compliance
Companies claiming tax abatement for real estate improvements must submit a Form CF-1/RE and those claiming tax abatements for equipment must submit a Form CF-1/PP every year by May 15.
Annual Equipment Abatement Reception
Every year, companies claiming tax abatement on equipment must file a Form 103-ERA. This form must be filed by May 15 as part of your personal property tax filing. If you are filing for Pool 5 equipment, use Form 103-P5/ERA.
One Time Real Estate Reception
Companies that have completed construction of the abated structures but have not yet submitted a Form 322 ERA for that property must do so this year by May 10 or within 30 days after receiving the Form 11 Notice of Assessment (see top of form for exceptions to this deadline as well).
Summary
All companies must submit the appropriate Form(s) CF-1 in each year their abatement is claimed. If you receive abatement on your equipment, you will need to submit Form 103-ERA each year in order to receive the abatement. The Form 322 ERA is a one time filing for only those tax abatements that include real estate - you need not submit a new Form 322 ERA if the company has done so already.
