Business Personal Property Tax Compliance: Key Fundamentals

Understanding Key Dates and Deadlines, Assessment Ratios, Market Valuations and Other Essentials

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, March 3, 2016

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This course will review important concepts and trends that tax staff must understand to effectively work on state, county or city business personal property tax compliance.

Description

Tax staff who are relatively new to handling a company’s state, county or city business personal property tax obligations must first receive a grounding in the fundamental concepts, starting with operative dates like value/lien dates, and filing and appeal deadlines. But, that is only the start.

Tax staff will fall behind without a thorough understanding of the basics of market valuation, assessment ratios, penalty policies and auditor red flags when it comes to business personal property—and the common approaches by jurisdictions in those areas.

Despite unique aspects to their laws or ordinances, states and municipalities usually approach such compliance tasks, as well as filing requirements for personal property declarations and renditions and revaluation processes, in similar ways. A session on essential fundamentals will benefit even the experienced company tax pro.

Listen as our panel reviews and explains the key concepts of business personal property tax in a multi-state context.

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Outline

  1. Personal property tax overview
  2. Valuation
    1. Methodologies
      1. Market value
      2. Assessment ratios
    2. Appeals
  3. State return examples
  4. Audits and penalties
  5. Saving opportunities

Benefits

The panel will explore trends and common approaches by states and localities with these and other essential aspects:

  • Getting a handle on the deadlines that companies typically face in all states where they do business
  • Grasping the ins and outs of the market value calculation and assessment ratios
  • Filing declarations and renditions
  • Preparing for audits and assessment appeals

Faculty

Laura Bellotti Cardillo
Laura Bellotti Cardillo
Member
Pullman & Comley

Ms. Bellotti Cardillo has worked in the property valuations arena since 1982, and currently practices in ad...  |  Read More

Eric N. Reynolds
Eric N. Reynolds
Jones Day

Mr. Reynolds has extensive experience in tax issues, including tax compliance and tax controversy matters. He...  |  Read More

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