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<blockquote data-quote="Brian jojade" data-source="post: 96688" data-attributes="member: 211">Re: Property TaxBusiness property taxes are quite common, with lists of exemptions for certain things. Depending on the state, you can either be taxed based on depreciated value, or on the actual value of the items.&nbsp; In Wisconsin, there is a line item to count how many reams of paper are here to account for.&nbsp; Inventory is exempt from taxes, but items used in the business would be taxed.Another thing to look out for is collecting sales tax.&nbsp; In Connecticut, you need to be collecting sales tax for your services.&nbsp; You can tack this on to the final bill, just like everyone else does.&nbsp; You collect the payment and submit it to the state each month.&nbsp; If you don&#039;t collect the tax, that doesn&#039;t mean you aren&#039;t still liable for the tax.&nbsp; If you get audited, they can make you pay the tax owed on all the services you provided.&nbsp; Not a happy place to end up!!&nbsp; That number is going to be far worse than the property tax you&#039;ll end up paying on your gear.</blockquote>

[QUOTE="Brian jojade, post: 96688, member: 211"] Re: Property Tax Business property taxes are quite common, with lists of exemptions for certain things. Depending on the state, you can either be taxed based on depreciated value, or on the actual value of the items. In Wisconsin, there is a line item to count how many reams of paper are here to account for. Inventory is exempt from taxes, but items used in the business would be taxed. Another thing to look out for is collecting sales tax. In Connecticut, you need to be collecting sales tax for your services. You can tack this on to the final bill, just like everyone else does. You collect the payment and submit it to the state each month. If you don't collect the tax, that doesn't mean you aren't still liable for the tax. If you get audited, they can make you pay the tax owed on all the services you provided. Not a happy place to end up!! That number is going to be far worse than the property tax you'll end up paying on your gear. [/QUOTE]

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