Business Tangible Personal Property Tax

[msparks]

Okay,

So our country government contracted some TMA discovery company to find all the non-payers of the this business personal property tax. Here is the company:
http://www.tma1.com/PDF/Discovery Program - Description of Services.pdf

and the state page: http://www.tn.gov/comptroller/pa/paperprp.htm

Now my question, have a home business, what constitutes personal property? I cook lunch on the stove, do I have to pay personal property for that?

I wear clothes (sometimes) to work, is that personal property?

This is absolutely crazy, really. What's next?

How many hours do I need to spend in tax compliance? It's almost a full time job. Sounds like a good way to get rid of Home based business--Make them spend all their profits and time in tax compliance.

 

[astraelraen]

Business personal property tax is pretty common.

Most states that don't even have a "personal" personal property tax still have a business personal property tax.

Generally anything you would depreciate as business property would be included on a personal property tax form. Some states vary as to what exactly is included - such as some tax licenses, etc for software... whereas others only tax tangible personal property.

So if you go buy a Quickbooks CD thats tangible personal property and taxed, but if you go buy the license on the internet and download it you technically don't have tangible personal property in some states.

 

[msparks]

I can see how this tax can be very unfair for business to business.

Me, I'm looking around and see a computer, printer, and a cabinet that I bought this year.

I would hate to be a farmer or something like that.