Personal Property Tax

News & Analysis as of

Triple Threat: U.S. House Subcommittee Considers Three State Tax Bills

On June 2, 2015, the U.S. House of Representatives Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial and Antitrust Law conducted a hearing on three state tax bills: the Mobile Workforce State Income Tax...more

Five Things to Know about New Jersey’s Taxation of Convertible Virtual Currency

On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency. The IRS has held that convertible virtual currency (CVC),...more

Phase-Out of School District and Local Government Property Tax Replacement Payments Proposed

In February 2015, the Ohio General Assembly introduced House Bill 64 (“H.B. 64”), which is the biennial operating budget bill for the biennium beginning July 1, 2015. H.B. 64 contains language that would restart the...more

More Tax Money for the City of Chicago in 2015: Broader Bases, Increased Rates and Lesser Credit

The City of Chicago’s (City’s) 2015 budget includes a number of changes to taxing ordinances found in titles 3 and 4 of the Chicago Municipal Code. The City of Chicago Department of Finance has notified taxpayers and tax...more

South Carolina Property Tax Assessments: Should I Appeal?

Understanding South Carolina's real and personal property tax structure involves a trip back to your high school algebra class. Essentially, the amount of tax you owe depends upon three variables...more

Community Colleges Must Report Debt Revenue Loss By Friday Under Michigan Personal Property Tax Reform

Recent reforms to the Michigan personal property tax require community colleges to report their debt revenue loss to the Michigan Department of Treasury by September 5, 2014....more

Assessment Appeals Commission Holds that Personal Property is Valued at Capitalized Cost

The Assessment Appeals Commission (“AAC”) of the Tennessee State Board of Equalization has reversed a 2011 administrative law judge decision, holding that intangible costs (such as freight, installation, engineering costs and...more

Tennessee Requests Comments on Legislation to Amend the Locally-Imposed Gross Receipts Tax

The Tennessee Department of Revenue has released a legislative proposal with the stated intent of clarifying the application of the locally-imposed business tax to out-of-state businesses while also codifying an existing...more

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