Ya, I learned about the sales tax issue a long time ago. It's really no big deal is you purchase locally but those ebay purchased really add up! -RickG
On Mon, Jan 5, 2009 at 12:44 PM, Tom DeReggi <wirelessn...@rapiddsl.net> wrote: > John, > > We were talking about Personal Property Tax, not Sales Tax. But you made a > good point, Sales Tax is also an issue that WISPs need to be aware of. > The liabilty for Sales Tax is just the rate of sales tax for one year. (6% > in MD). But Property Tax can be worse, because it is assessed every year on > property. > > I did make a mistake in an earlier post, where I used an example of not > paying PPT for 8 years. Computer type equipment actually can usually be put > on a 3 year depreciating schedule, therefore reducing the amount of time and > amount each year that the gear is subject to property tax. But again, a > WISP must report its property tax, if they are going to state the > depreciated value. If you are audited for not filing, the State may very > well select a 5 year depreciating schedule, or in my case, they chose to try > and charge me the full non-depreciated value. Its also important to > recognize that most states only allow you to go back 3 years to refile. So > if 4 and 5 years back you did not file, and you get audited, its very > possible that you would be liable for any value that the state assessed, as > you would not be allowed to refile to report the true depreciated value any > longer. > > I do not know whether Illinoise charges Property Tax or not. > > Tom DeReggi > RapidDSL & Wireless, Inc > IntAirNet- Fixed Wireless Broadband > > > ----- Original Message ----- > From: "John Scrivner" <j...@scrivner.com> > To: "WISPA General List" <wireless@wispa.org> > Sent: Monday, January 05, 2009 11:36 AM > Subject: Re: [WISPA] equipment state property taxes > > >> Is this property tax or sales tax? It sounds like the latter to me. If >> you >> have a fair market value lease then your lease company should have to eat >> this in my opinion (for what that's worth). If it is a dollar buyout lease >> then for all intents and purposes your lease is little more than a >> financing >> option and requires you to pay the taxes (again my opinion). I have faced >> similar issues in the past. I always make sure my sales taxes are paid up. >> We had a $20K nightmare over this previously. If you buy gear and it is >> for >> your company's use (not resale) then you own the gear and owe the sales >> taxes. There is no exemption for WISPs regarding sales taxes that I know >> of. >> Scriv >> >> >> On Sat, Jan 3, 2009 at 11:52 PM, RickG <rgunder...@gmail.com> wrote: >> >>> Well, I thought I wouldnt have to worry about state property taxes on >>> my equipment because it was leased, but I received a nice Christmas >>> present from my leasing company in the form of a $1700 bill. They were >>> billed from our local tax authority and in turn expect me to pay it. >>> My CPA was surprised as well and said there may be some exceptions for >>> Internet providers. Has anyone heard of this? >>> -RickG >>> >>> >>> >>> -------------------------------------------------------------------------------- >>> WISPA Wants You! Join today! >>> http://signup.wispa.org/ >>> >>> -------------------------------------------------------------------------------- >>> >>> WISPA Wireless List: wireless@wispa.org >>> >>> Subscribe/Unsubscribe: >>> http://lists.wispa.org/mailman/listinfo/wireless >>> >>> Archives: http://lists.wispa.org/pipermail/wireless/ >>> >> >> >> -------------------------------------------------------------------------------- >> WISPA Wants You! Join today! >> http://signup.wispa.org/ >> -------------------------------------------------------------------------------- >> >> WISPA Wireless List: wireless@wispa.org >> >> Subscribe/Unsubscribe: >> http://lists.wispa.org/mailman/listinfo/wireless >> >> Archives: http://lists.wispa.org/pipermail/wireless/ >> >> >> -- >> No virus found in this incoming message. >> Checked by AVG. >> Version: 7.5.552 / Virus Database: 270.10.2/1876 - Release Date: 1/5/2009 >> 9:44 AM >> >> > > > > -------------------------------------------------------------------------------- > WISPA Wants You! Join today! > http://signup.wispa.org/ > -------------------------------------------------------------------------------- > > WISPA Wireless List: wireless@wispa.org > > Subscribe/Unsubscribe: > http://lists.wispa.org/mailman/listinfo/wireless > > Archives: http://lists.wispa.org/pipermail/wireless/ > -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
