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This is a determination made by the commissioner, based on a number of facts about the process and nature of your business activities.
You must notify our office in writing that you went out of business. If your M&T is on commercial property and is still available for use in business after you went out of business, you are responsible to continue to report it until it is removed or made unavailable for use in the business. Note that M&T tax is not pro-rated.
Machinery and tools may be reported as "Idle and Unused" if they:
Construction-in-progress, occasional, and seasonal use of machinery and tools would not constitute "idle and unused" property.
Submit with return:
Note: Once any property identified as "idle and unused" is returned to use, please contact our office immediately for proper reporting guidelines.