Tax Developments
October 25, 2002
External Obsolescence for Troubled Industries - The Impact on Airlines or Just When We Thought It Couldn't Get Any Worse…
Substantiating obsolescence claims in the assessment process is a difficult
task for tax practitioners. It has typically been a challenge to convince
assessment officials that the standard cost approach methodology used by
their jurisdiction may not necessarily reflect depreciation from all sources
and therefore may not result in fair market value.
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August 15, 2002
Impact of Ohio Senate Bill 200 on Sales and Use Tax Refunds.
The State of Ohio recently adopted into law Senate Bill 200 ("SB 200") which
makes Ohio's tax law More >> "taxpayer friendly" and, in part, increases
efficiency in the sales and use tax refund process. Effective September
6, 2002, SB 200 allows consumers to apply directly to the Ohio Department
of Taxation (the "Department") for sales and use tax refunds, thus eliminating
the step of going through a vendor to obtain a refund.
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July 19, 2002
California Sales Tax Refund Opportunity; Technology Transfer Agreements.
The California State Board of Equalization (“SBE”) recently adopted Sales & Use Tax
Regulations that potentially provide sales and use tax refund and planning
opportunities resulting from Heather Preston v. State Board of Equalization
(2001) 25 Cal. 4th 197.
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May 31, 2002
Georgia Legislature Revises Exemption Relating to the Sale or Lease of Certain
Computer Equipment.
The Georgia Legislature has passed a bill that will amend Official Code
of Georgia Annotated ("O.C.G.A") §48-8-3 (68), concerning sales and
use tax exemptions for the sale or lease of certain computer equipment
to high technology companies.
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April 12, 2002
The Journal of the International Machinery & Technical Specialties
Committee of the American Society of Appraisers Publishes External
Obsolescence and Complex Property Article.
Measuring external obsolescence is a central issue in valuing complex property
for ad valorem taxation. Because specialized complex properties are
particularly sensitive to external conditions, accurate measure of
external obsolescence is critical to achieving a fair property tax
valuation.
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March 12, 2002
Ohio Department of Taxation Issues Guidance on Changes to Sales and Use
Taxation of Leased Property.
The Ohio 124th General Assembly recently passed Amended Substitute House
Bill 405, which made significant changes in the way Ohio sales and
use tax is applied to the lease of motor vehicles, watercraft, outboard
motors, and aircraft. The change in the law also applies to leases
of tangible personal property used for business purposes.
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January 25, 2002
Ryan & Company Obtains Proposed Decision in Texas Exempting a Tire
Recycling System at a Cement Plant.
Ryan & Company's Dispute Resolution
Group recently obtained a proposed decision in
Comptroller's
Hearing No. 40,243 holding that prior to October 1, 1997,
a tire recycling system that fed waste tires as fuel into the kilns
at a cement-making plant qualified for exemption as manufacturing
equipment.
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January 4, 2002
Illinois Department of Revenue Issues Draft Regulations.
The Illinois Department of Revenue recently issued draft regulations on
a variety of sales and use tax issues including the manufacturing
and graphics arts equipment exemptions, vending machine sales, manufacturers
purchase credit requirements, telecommunications definitions, and
administrative procedures.
More>>