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WA State, Snohomish County, Personal Property taxes for a Business?
I have a small business in Snohomish county, WA State. I received a form to fill out for 2009 personal property tax for the business. It is asking me to list all of the items in the building we put in as improvements to run our business, all items gifted, purchased, used or new that are used in the sell or trade of product. Then the form goes on to tell me the county will excess me on the fair market value established by the county and bill me for the taxes due.
I thought everything I purchased or was given was all ready taxed at the time of the sale to me or to the person that gifted it to the business. Why a double tax? (because they can?)
Is there a way around this, has anyone run into this tax before that can tell me what to do?
John
3 Answers
- ChrisLv 61 decade agoFavorite Answer
How is your company structured? The tax method depends on the type of business: if you are an LLC you get taxed WAY different than a Sole Prop.
I would STRONGLY advise talking to a Tax Accountant. I know it costs some cash, but you could end up owing the State/Feds a TON of money if you don't know how to structure your tax system.
Source(s): I'm a Personal Banker in Southern WA and Northern OR. - Anonymous6 years ago
RE:
WA State, Snohomish County, Personal Property taxes for a Business?
I have a small business in Snohomish county, WA State. I received a form to fill out for 2009 personal property tax for the business. It is asking me to list all of the items in the building we put in as improvements to run our business, all items gifted, purchased, used or new that are used in...
Source(s): wa state snohomish county personal property taxes business: https://quickhelp.im/i12/wa-state-snohomish-county... - Anonymous5 years ago
What's the assessment date on the NC PPT? Here in MO it's January 1st. If it's the same in NC, then moving out on the 2nd of January means that you are on the hook for the tax for the year. The fact that you consider that unfair, while understandable, is absolutely irrelevant. If you don't pay the tax, they can use the full weight of the law to force you to pay, or at least make you wish that you had. I can't speak for NC, but MO will revoke your right to operate a motor vehicle. That extends nationwide, so the next time that you are pulled over you may get a very nasty surprise when the cop tells you that your license has been revoked.
