和许多州一样 & 当地的税收, Business Personal Property (BPP) taxes can account for a significant portion of a company’s overall tax burden. Due to the potential impact on profitability and working capital, it’s critically important that proper care is given to managing the reporting, processing and mitigating issues that may cause overpayments.
以最简单的形式, BPP is property owned by the business which is movable (not affixed) and consists of items including, 但不限于, 桌子, 椅子, 电脑, 机械, 等. Inventory is also considered BPP and is taxed by some jurisdictions.
Not all state and local jurisdictions impose a tax on BPP, but many do. Returns are typically filed on an annual basis to the jurisdiction where the property was located as of a certain reporting date, 哪个是由司法管辖区规定的. 该报告日期通常是1月1日st but could vary depending on the jurisdiction. The format of BPP Returns vary greatly by jurisdiction, but they all typically require a taxpayer to report asset costs by year and by predefined groups or categories.
The taxing jurisdictions use the returns submitted by the taxpayers to calculate an overall assessed value for the reported property. The assessments are calculated by assigning predefined fair market value ratios to the costs reported by year in the various asset groups/categories. Once the assessments are calculated, an assessment notice is sent to the taxpayer. Taxpayers typically have 30 to 45 days to contest the validity of the assessment by filing an appeal. 一旦上诉截止日期过去, the taxing jurisdiction issues a tax bill based on the assessed value. Tax rates vary greatly by jurisdiction but could range from 1% to 5% or more.
Business 个人房产税 Returns are deceptively simple and often lead to overpayments. Below is a list of the services that Clearview provides which are designed to recover personal property tax overpayments and ensure only the lowest amount of taxes legally due are being paid going forward.
- 或有费用退款回收* - 去年Clearview的状态 & 当地税务 team will review previously filed business personal property tax returns (usually 3 or 4 years depending on the taxing jurisdiction) to determine if refund opportunities exist. 如果退款存在, we will secure the refunds from the taxing jurisdictions and transfer our knowledge and alternative reporting methodologies to the company to ensure the organization realizes the benefit of our work well into the future.
- 或有费用上诉* - Our specialists will review current year Assessment Notices to determine if there are reduction opportunities. If assessment reduction opportunities exist, we will represent the 万博平台app下载 during the appeals process.
- 合规, We currently file business personal property tax returns on behalf of our clients throughout the country. Our compliance process involves gaining a deep understanding of the company’s fixed asset records to ensure assets are properly reported and the lowest amount of tax legally due is being paid.
- 审计防御, If you’re under audit your organization should have someone knowledgeable with the audit process represent you, so you don’t get hit with an unnecessary audit liability.
*Our consultants perform these services on a contingent fee basis, which means if you don’t see financial results, 你不需要付出任何代价.
HOW HAS CLEARVIEW GROUP ASSISTED A PREVIOUS BUSINESS PERSONAL PROPERTY TAX CLIENT?
去年Clearview的状态 & 当地税务 Team recently secured approximately $200,000 in personal property tax refunds for an engineering and technology solutions firm. The refunds resulted from conducting a thorough analysis of the organization’s historical filings and identifying alternative methodologies for reporting assets. 我们的团队 was also able to identify additional saving opportunities in connection with the sale of a related entity.
For more information on potential Business Personal Property tax savings, 联系新万博app下载: firstname.lastname@example.org.