Form 3427 - Application For Exemption Of New Personal Property Page 2
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2Form 3427, Page 2
Instructions for Completing Form 3427,
Application for Exemption of New Personal Property
As a supplement to the following instructions, please
Line 7: If there is someone in your business, other than
read State Tax Commission (STC) Bulletin No. 9 of
the person signing this application, who should be
1999 which explains the provisions of Public Act (P.A.)
contacted if further information is needed, please name
328 of 1998, as amended.
the person on line 7.
Line 1: P.A. 328 of 1998, as amended, states that, to
Line 10b: Note that a signature from a company official
qualify for exemption, New Personal Property must be
is required on line 13. This application cannot be
owned or leased by an Eligible Business. Please see
processed without a signature.
page 2 of STC Bulletin No. 9 of 1999 for the definition
of an Eligible Business. Please note that a copy of the
Lines 19 to 31: These lines must be completed by the
legal description for the property where the Eligible
Clerk of the Local Governmental Unit which has
Business is located must be attached.
adopted the resolution required by P.A. 328 of 1998, as
amended.
Line 2, 3, 4: Indicate the county; the city or township;
or village; and the local school district in which the New
Note that a copy of the resolution, a legal description,
Personal Property and the Eligible Business will be
and a detailed description of the business operations
located.
must be sent to the State Tax Commission along with
this application. Once issued, the exemption will pertain
Line 5: P.A. 328 of 1998, as amended, provides that an
to all new personal property placed in the eligible district
Eligible Business must be engaged in one of the
for the entire length of time approved by the local unit
following types of businesses: manufacturing, mining,
and issued by the State Tax Commission. The exemption
research and development, wholesale trade, or office
may not be limited to specific new personal property or
operations. Please see page 2 of STC Bulletin No. 9 of
a lesser time than the full length of issuance. If any of
1999 for the definition of an Eligible Business. Please
the information requested on lines 19 to 31 is missing,
note that a detailed description of the business operation
this form will be returned to the Clerk.
must be provided on a separate sheet.
Line 6 a-c: P.A. 328 of 1998, as amended, provides
that New Personal Property and the Eligible Business
must be located in an Eligible District. Please see page
4 of STC Bulletin No. 9 of 1998 for a listing of the
eight different types of Eligible Districts.
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