Property Tax On Equipment And Trucks

denick

Do you pay property taxes on equipment and trucks?

Here in CT we do.

I brought this up because I went to look at the truck on long Island in NY and they don't pay property tax on Eq. or trucks. But for his yard 200' by 80' and his shop on that lot 45' by 90' just a block building brick faced two bay shop and another small one story block building maybe 25' x 30' he pays $36,000 a year in taxes. Boy that seems like a lot of money. It is a lot of money!

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Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

jmic

Thats WHACK!

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___"Remember You Never Get A Second Chance To Make A First Impression"______________________
Joe

Debookkeeper

Don't ya just love CT and all the taxes? I hate the fact that they tax you on your desks, and computers, and adding machines, office supplies, tools, equipment, etc. There are ways around it...

Teetorbilt

Don't whistle, speak! We have them here too.

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You can't solve you're problems with the same level of thinking that created the problems.

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tgeb

Have to pay Personal Property Tax here also.

We have to pay on any depreciable assets. For me that's all the equipment, trucks, trailers etc.

The only way I know around it is to expense the item when you purchase it, which you really can't do with the big ticket stuff.

My business has no real estate so I don't have the bill your friend does, but it still bugs me that I have to pay all this money because I have ambition and decided to own a business.

I think between taxes and insurance I pretty much pay almost twice for every piece of equipment.

It's best if I don't think about it, just gets me going...


And don't get me started about insurance!

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Tom

www.gebcon.com

jcalvin

They are called Business Personal Property Taxes, and yes, THEY WANT YOUR MONEY. They are really not out there to get the money for your 2 hammers and new saw, they are after the large companies. They ones they want have millions of dollars in taxable property, like, factories, oil and gas companies, rock quarries, etc. The stuff they get off of us is just a legallity since they can't just tax the big companies.

dayexco

they won't quit spending until we quit sending......

in order to keep your job, you have to layer yourself in. that's why "a good program" started by the govt. gets so huge. you have to perpetuate your position.
tell me why it's fair..."it is because the seniors are the biggest voting block".....that if you need an electric wheelchair, or viagra, or free or reduced meals, housing, etc with no reflection on your ability to pay for these goods/services yourself.....that you can anonymously pass the bill for those goods and services onto your children and grandchildren? here we complain about the senators bringing home the pork, how about the seniors that demand these govt. subsidised goods/services, or the group of people that refuse to work? that's a mighty big ham they're eating that we're paying for.

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someday, i'll be as patient as Nick.

A W Smith

what if you lease the equipment? or if you already own it set up an offshore corp and lease it to yourself?

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Al Smith
http://www.awsmith.com

dayexco

i've seen many larger contractors that have another holding company that owns all property and equipment, and lease the equipment to the construction side for liability purposes.

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someday, i'll be as patient as Nick.

Cedarcreek

Around here they would want a list of the equipment so they could send the holding company a tax bill.

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If you don't have time to do it right when will you have time to do it over?

mickeyco

I can't believe that, a personal property tax, WTF, you paid the tax when you bought it, although without that money the Government might not be able too afford all the benefits for illegal aliens and lazy a-holes. They tried that in the City of Chicago many years ago, the people that paid were taxed every year, the ones that didn't never heard about it again, I think it was finally abolished. A good way to get around a lot of that BS is to register the vehicles in another state without a tax, you also get around the emission testing (at least in Illinois).

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Some people climb mountains. I take out the trash. But we both do it for the same reason.