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Florida tangible personal property

FloridaBound

Plastic
Joined
Nov 17, 2023
Florida owners: I am moving to Florida. How have your machines been appraised for the Tangible Personal Property tax? Mine are over 5 years old. Purchased new. Just want to know how my tax bill will look like. Do machines even count?
 
Is it your personall property or is it the business's property? Tagible Personal Property, indicates it not business related.
 
I know, it’s a stupid name. It is business only tax. ImJimmy Rees could do a “guy who names things” and include this.
 
This gets confusing state to state.
My machines are personal property taxes even though I am a C corp.
But.. the rules changed a while back here. Now I pay ESA instead of the township.
My shop in Houston was totally different than here.
You need a Florida tax lawyer or accountant. The rules here are :willy_nilly:
 
read this to get hopelessly confused


My take down here. If you run a business out of your home, you can duck under this. If you buy a commercial property you will be audited by the local assessor
 
This gets confusing state to state.
My machines are personal property taxes even though I am a C corp.
But.. the rules changed a while back here. Now I pay ESA instead of the township.
My shop in Houston was totally different than here.
You need a Florida tax lawyer or accountant. The rules here are :willy_nilly:
I was thinking about this a little and I am sure every state has their own terminology and definitions. Its all a money grab one way or another. Damn gov't getting in the way.
 
I looked a bit into this a couple years ago when trying to figure out which US states had what type of taxes and the lowest...
I found it quite odd that some states have a business property tax essentially aimed at discouraging business growth and modernization.
 
I looked a bit into this a couple years ago when trying to figure out which US states had what type of taxes and the lowest...
I found it quite odd that some states have a business property tax essentially aimed at discouraging business growth and modernization.
I remember when I was a kid that my dad told me the town sent a guy down to "assess" the value of our equipment for excise taxes. He quickly realized there is nothing of value and it cost them more moeny to come down here than they would get from us. Havent seen them since, its been over 30 years.

Some states have no excise taxes or income taxes, sales taxes, etc. And then some states tax you right out of business. I was always told to stay under the radar and dont look for issues.
 
This gets confusing state to state.
My machines are personal property taxes even though I am a C corp.
But.. the rules changed a while back here. Now I pay ESA instead of the township.
My shop in Houston was totally different than here.
You need a Florida tax lawyer or accountant. The rules here are :willy_nilly:
yeah, I know, accountants usually make you more than they take…so they’re worthwhile. I was just trying to get a ballpark to help guesstimate budgets. Maybe how the assessor assesses. (Under market like houses? Used machinery dealer prices, and if so, is it what they’d buy my machines for or sell my machines for? eBay? Depreciation?)

What’s the esa? I’ll google, but would rather see plain talk from a real person rather than some legal definition.
 
I remember when I was a kid that my dad told me the town sent a guy down to "assess" the value of our equipment for excise taxes. He quickly realized there is nothing of value and it cost them more moeny to come down here than they would get from us. Havent seen them since, its been over 30 years.

Some states have no excise taxes or income taxes, sales taxes, etc. And then some states tax you right out of business. I was always told to stay under the radar and dont look for issues.
I want to stay under the radar, but theres 87000 new irs agents. A new to Florida business who “doesnt know the local laws” is a juicy target for a new overachiever agent. They see business expenses but no deduction for tpp, and that’s an audit…now I probably owe the tpp eith interest, probably some audit fee, but maybe I get more from the fed to offset some…betcha not! Better to be to the letter. If that means calling the assessor and sucking down a bad tax…I’m already pretty committed to moving. Was just tryin to figure out property taxes and found this sh__.
 
I want to stay under the radar, but theres 87000 new irs agents. A new to Florida business who “doesnt know the local laws” is a juicy target for a new overachiever agent. They see business expenses but no deduction for tpp, and that’s an audit…now I probably owe the tpp eith interest, probably some audit fee, but maybe I get more from the fed to offset some…betcha not! Better to be to the letter. If that means calling the assessor and sucking down a bad tax…I’m already pretty committed to moving. Was just tryin to figure out property taxes and found this sh__.
Your thinking about this too much. get off the internet and go run the business.
 
You guys in less taxed states have the luxury of not knowing what's going on elsewhere or you're flying under the radar. Since 2020, the clamps have absolutely been tightening on small businesses, in many states. I could turn this into a general rant but, suffice it to say that there are problems that don't exist where you are, or haven't had them bite you yet. Thanks to this thread, I did some searching and discovered even more soon-coming crap in Commiefornia.
 








 
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