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Old 03-01-2013, 02:13 PM   #16
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Quote:
Originally Posted by joecaption View Post
Just got my yearly forms from the county. They expect you to pay a tax on any equipment, unsold inventory and tools you own every year.
Got to tell me how this makes any since.
Without the tools you can not make any money, so why buy them.
I've already paid a state tax when I bought them.
If I have unsold inventory I've made 0 profit on it so why have any on hand.
If we buy less that puts people out of jobs, how much money do you think there going to make on someone with no job?
We have a similar tax here, called "Personal Property Tax", and includes anything that is on you depreciation schedule. So sure, you've paid State taxes on it already, but you're also using the depreciation to offset income. Here, the PPT goes directly to the township/city/village your business resides in, and is set at the same mill rate as all other real property......

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Old 03-05-2013, 08:50 PM   #17
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@ "12penny": Yes, I would be required to carry both the personal and Commercial Vehicle Insurance(s). This is the way the insurance agent states it: "IF you get in your vehicle to go to the store to get groceries, then your personal vehicle insurance covers you on that trip. IF you get in your vehicle to go to someone's home to even look at a possible job, then you will have to have Commercial Vehicle Insurance." When I asked about going to the store first then going to a potential customers home, which insurance would I need: "You will need them both, we will figure out when you left the store and started to the customers home". I am now seeking advice as to why they can charge for CVI when the State and County ordinances plainly identify a "Commercial Vehicle" as one which weighs over 10,001 pounds unloaded. I would not have to have Commercial Plates on my pick-up truck for my business either. Yes, I am also looking at different insurance agents/policies although my agent has told me that if I change insurance agents or companies they will report me for "failure to maintain proper insurance". Lub 'em.
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Old 03-05-2013, 09:17 PM   #18
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Thurman; I feel for you.
I have nothing like that here.
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Old 03-05-2013, 10:38 PM   #19
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Thurman, I feel for you too man! Might need to take your insurance agent fishing in a backwoods creek .......

I went into my sleep little hamlet's town hall when I opened by business here to obtain a "Town Business License." After all every good local business should be licensed. They asked me what did I do, I said I was a building designer. The lady says, "Oh, an architect." I said no mam I'm not an architect, I'm a building designer. After some explanation as to the differences she said "we don't have a category for you, but we'll make one." She gladly took my $30 and gave me a Town Business License which is good for 6 years.

And yes, I have to pay personal property tax on my office furniture and equipment, because I had that Town Business License.

Every little bit helps the town coffers

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