Business Personal Property Inspections

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matt8888
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Business Personal Property Inspections

Maine - Open for business!

I always knew Maine had a personal property tax on businesses property such as chairs, desks, equipment, etc, but this is the first time I've heard of an inspection of your property by an assessor entering your business and writing it all down.

http://www.kitteryme.gov/home/news/business-personal-property-inspection...

These businesses had to pay sales taxes on buying the equipment and then on top of everything, they need to pay a tax on owning it each year? What a ridiculous tax. It needs to end.

Watcher
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matt8888. you are 100%

matt8888. you are 100% correct. Maine also has personal property tax for individuals...the annual auto excise tax is a tax on personal property.

matt8888
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Yeah, the car tax is annoying

Yeah, the car tax is annoying, but I just think of it as part of registration fees. Gotta have a car.

I can only assume a business in Maine only wants to have the bare, bare minimum company property so they are not taxed to death. Not very business friendly. No wonder other states are kicking our butt.

Maine is so hostile towards companies. Its obvious why they dont consider Maine.

Ugenetoo
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Maine (democrats) aren't

Maine (democrats) aren't hostile to just businesses.
They consider us all to be revenue producers for their special pet projects.

BlueJay
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It has been said that Maine

It has been said that Maine Revenue Services is an evil entity.

Tom C
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They've had this rule for

They've had this rule for years. As I recall, the property is assessed at the original COST, and included on ALL property on the premises, so that IBM XT junked in the back of your janitorial closet will be assessed at $2500.

Mainelion
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Yeah, the car tax is annoying

Yeah, the car tax is annoying, but I just think of it as part of registration fees. Gotta have a car.

In most states you can register a car, even a brand new one, for about $50. In the People's Republic of Maine it's more like $700. That's why our roads are in such great shape. Well, that and the untiring efforts of our dedicated, hard working public servants in the DOT (/sarc)

JackStrawFromWichita
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“As I recall, the property is

As I recall, the property is assessed at the original COST, and included on ALL property on the premises, so that IBM XT junked in the back of your janitorial closet will be assessed at $2500.”

Nice to see you’re still as stupid as ever.

Yes, it is assessed at original cost but there is a depreciation schedule and when the property is taken out of service it no longer is an assessable asset.

https://www.portlandmaine.gov/DocumentCenter/View/21274/FY19-PP-Deprecia...

expat
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As ignorant as he is, Tom C

As ignorant as he is, Tom C is smart enough to know that "a lie told often enough...."

Tom C
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Well, all you guys are going

Well, all you guys are going to have to start declaring your pot-growing equipment now.

Ugenetoo
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Have you noticed that a lot

Have you noticed that a lot of that grow equipment is ending up on Craigslist or Uncle Henery's.
Once they start growing, they start tasting.
Once they start tasting, it finally dawns on them that, "Wow, this shit is a lot of work".

matt8888
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I'm pretty sure almost none

I'm pretty sure almost none of the pot growers list their business personal property as assets on their taxes.

Watcher
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Most municipalities refuse to

Most municipalities refuse to assess personal property tax on lobster traps even though they are required to do so. They wisely understand that such a tax would never be paid a would create more trouble than they could handle.

anonymous_coward
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@Tomc : "They've had this

@Tomc : "They've had this rule for years. As I recall, the property is assessed at the original COST, and included on ALL property on the premises, so that IBM XT junked in the back of your janitorial closet will be assessed at $2500."

Wait what? That's insane. No depreciation on the asset?

Edit: thanks Jack, I thought that made no sense

Bruce Libby
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It appears that thesis a can

It appears that this is a can do but don't thing. I have been here Westbrook and never been assessed on anything but Realestate.Quite a few years ago in Windham I remember a heated debate on this tax that ended. with no action.

Tom C
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No, you do get to depreciate

No, you do get to depreciate it. I stand corrected.

JackStrawFromWichita
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Bruce, it's only business

Bruce, it's only business personal property not personal use.

anonymous_coward
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Thank, Jack. It still seems

Thank, Jack. It still seems like strange law, is the idea to discourage capital-intensive businesses?

Toolsmith
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It does seem very anti

It does seem very anti-business. What is the reason it was out in place?

Ugenetoo
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Lefty greed, perhaps?

Lefty greed, perhaps?

Mike G
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Is the GOP lefty? because

Is the GOP lefty? because they sure are greedy. The idea that there is some huge difference in taxation and spending between the two parties is one of lip service only. Yes the GOP smaller government, less taxation blah blah blah, the difference between being raped and raped twice.

And here again we are given the great choice on this eve of the primary to decide who gets a chance at going after that golden ring of corruption and self interest that is the hallmark of our system of governing, the only thing better would be a judgeship.

Bruce Libby
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Mike G

Mike G
You are correct a judgeship is the ultimate "pig at the trough" job , can be a very long one !

Mike G
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Would George smile?

Would George smile?

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