Hi, We received a letter from the county to register our business, which I did. But the letter also said that we need to “file the appropriate returns (i.e. Return of Business Personal Property, etc.) on an annual basis. All businesses are required to report all personal property used in the business… including bedroom furniture, TV’s, sofa, dining/kitchen table and chairs…”
Does anyone know what this means?
We are primary residents of Pennsylvania. This VA home where we host is our vacation home that will ultimately be our retirement home. We do not currently file income taxes in VA, but I assume we will start that this year with the Airbnb income. We obviously already pay Montgomery County real estate taxes on this property.
Is this part of the VA State Income Tax return or is there some other process we will need to follow?
THANKS!
