Personal Property Tax Consulting - INTAX, Inc.

The most prominent method used by taxing jurisdictions when assessing personal property is the Cost Approach. Assessors obtain asset cost and other information from accounting records and apply formulas to calculate your assessment. As a result, the process of assessing personal property often has many inherent problems including:

Cost Approach Problems:

Misclassification of assets
Use of incorrect life tables
Excessive valuation of expensed equipment
Valuation of ghost assets that have been retired or transferred
Taxation of exempt assets
Double taxation of leased equipment

In addition to these problems, the assessment reduction opportunities listed below are often not included in the taxing jurisdiction’s calculation.

Taxation of assets located in enterprise zones or eligible for other incentives
Insufficient recognition of idle equipment
Improper valuation of specialized equipment
Inadequate adjustments for functional, technological and economic obsolescence

INTAX will ensure that problems with the calculation of your company’s personal property tax are eliminated and we will conduct a reverse audit so that all opportunities for tax reduction are secured.

Proof is in the Savings

A Michigan apparel manufacturing company engaged INTAX to minimize their real and personal property taxes. Among other things, we discovered the client was not taking advantage of an exemption. Also, M&E at several of their facilities was not being reported favorably. Total annual savings amounted to $1,100,000.

              $1,100,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.

Proof is in the Savings

INTAX saved a long haul & metro ring fiber optic cable operator with assets in 21 states $1,241,000 by successfully advocating that deregulation, overstated demand and the development of an entirely photonic backbone for the optical internet dramtically devalued our client’s assets. This engagement yielded a 67% reduction in property taxes.

              $1,241,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.

Proof is in the Savings

INTAX saved a wireless company headquartered in Mississippi over $1,000,000 in property taxes by identifying equipment located at other facilities in states with lower tax rates or no personal property tax, utilizing accurate useful life tables, eliminating ghost assets and securing Freeport Tax Exemptions.

              $1,000,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.

Proof is in the Savings

INTAX appealed the personal property tax assessment of a high-tech manufacturer in Boca Raton, Florida. During informal meetings with the county’s appraiser, we negotiated an $18,400,000 assessment reduction. The reduced assessment saved our client over $380,000 per year.

              $380,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.

Proof is in the Savings

A coal company with operations throughout the Appalachian region engaged INTAX to minimize their property taxes in multiple states. By correcting misclassified assets, properly reporting inventories and being granted economic obsolescence, we saved the company $415,000 in annual taxes.

              $415,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.

Proof is in the Savings

An industrial client purchased a company in Florida with several operating facilities. We worked with multiple counties in an effort to use historic cost rather than a purchase price allocation. Our efforts saved the client approximately $1,000,000 per year since the acquisition.

              $1,000,000
                              Savings
                          

We have built and maintained positive professional relationships with state and local taxing authorities by earning a reputation for aggressive, but honest and responsive client representation.