AlphaTrion-TJW wrote:

- quote -

This is a state (or I suppose potentially local) law
question. While I could address the issues if you were
talking about the Arizona personal property tax, that
wouldn't be of any use for Tennessee. You need to talk with
someone conversant with the Tennessee property tax law on
this matter.

I can't imagine that there aren't some CPAs in Tennessee who
deal with closely held businesses that don't deal with those
matters on a regular basis. I know here in Arizona those of
us that do any work in the business arena have at least a
passing knowledge of the Arizona personal property tax, even
though there is a decent sized small business exemption in
the law now.

I would note, though, that your form indicates tangible
*personal* property--that strongly suggests that, like in
Arizona, this report will not deal with real property--like
your home. Rather it would deal with, as it says, tangible
personal property that is used in your business. But you
really need someone conversant in Tennessee law.

--
Ed Zollars, CPA
Phoenix, Arizona

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AlphaTrion-TJW wrote:

- quote -

I would suggest calling the local office and asking them the question.

However it sounds like the way they do things here in
Alabama and in Georgia. In Georgia, you report only the
business property you have on hand and are using on January
1st, meaning Jan 1 2004.

Let me know what "they" say.

Cheer4,
Harlan Lunsford, EA n LA

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I recently recieved a Tangible Personal Property Assement
schedule for 2004 from my county Property-Assessor this
weekend. And I have a couple of questions regarding the
form. And I thought this might be a good place to ask seeing
as I can't get ahold of the Asssessor or any one at the
court house that has any idea of what I'm talking about;
hell I can't even find a local CPA that has a clue as to
what this paper is for. I live in lower east-tennesse, in
case that is of any import.

1) I ran a homebased business from Feb. 2003 to June 2003.
I never purchased any business site or equipment for the
business I simply made do with what I had. Do I need to
list the value of my home anywhere on the form since I ran
my short-live business from my home? As I understand the
rule I only have to list those items that I purchased during
the course of my business in order to run the business. How
is my home affected?

2) The form says that is if I was out of business on Janaury
1 to notify them before filing. Is that January 1, 2004 or
January 1, 2003? The form doesn't say.

Thank in you in advacne for your help,

Toby J. Woods

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