The study reallocated 10 percent of the construction cost to 15-year site improvements and 20 percent to five- and seven-year tangible personal property
Wisconsin does not define tangible personal property
or computer software within its corporate income tax law.
New York's definition of capital improvement does not include any contract related to the sale or installation of tangible personal property
that retains its identity after installation.
CPAs may want to read Senate report 1881, which accompanied the Revenue Act of 1962, and Senate report 95-1263, which accompanied the Revenue Act of 1978, which both amplify and elucidate the distinction between tangible personal property
and structural components.
by inspection or training of franchisees) in Oregon, who receive royalty payments, franchise fees, or income from the transfer of tangible personal property
, pursuant to a franchise agreement, are liable for the corporate tax.
The intent of the taxpayer is crucial in determining what is tangible personal property
The tangible personal property
must be used in one of the following ways:
3/26/15), the Oregon Supreme Court focused again on Oregon's UDITPA-modeled text, as well as the context and history of its adoption of the tangible personal property
sales factor sourcing statute, to hold that the sale of electricity constituted the sale of tangible personal property
for Oregon corporation income tax apportionment purposes and should be sourced to the ultimate destination.
Charges for painting, polishing, and finishing tangible personal property
in connection with production of a finished product for consumers
1) Furthermore, the IRS takes the position that in the case of exchanges of intangible property, the standard for determining if intangible property is of like kind to other intangible property is, if anything, more rigorous than the standard for matching tangible personal property
Generally, deferred rent agreements are tangible personal property
agreements involving more than $250,000 in rent payments under which either of the following applies:
Sales of tangible personal property
shipped from New York to another state in which the company is not subject to tax is not considered a sale in New York and is, therefore, not taxed at all.