Tangible property tax - Page 6
Close
Login to Your Account
Page 6 of 7 FirstFirst ... 4567 LastLast
Results 101 to 120 of 134
  1. #101
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    Quote Originally Posted by gustafson View Post
    Certainly as they apply it there it seems counterproductive
    For all that I've paid, I could have hired 50 more people.

    They say it goes to schools and the schools around me are all over budget by $50,000-100,000 and are at risk of closing for several reasons.

    If we move they will lose over 60 children and will close for sure because they won't meet their 300 student minimums.



    Sent from my Pixel 3 using Tapatalk

  2. #102
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    Quote Originally Posted by alphonso View Post
    2.041% is crazy high tax on REAL property??????????? What do you consider reasonable REAL property tax???
    Take a look here

    Sent from my Pixel 3 using Tapatalk

  3. Likes digger doug liked this post
  4. #103
    Join Date
    Oct 2014
    Country
    UNITED STATES
    State/Province
    Maine
    Posts
    1,065
    Post Thanks / Like
    Likes (Given)
    157
    Likes (Received)
    502

    Default

    Quote Originally Posted by gustafson View Post
    Certainly as they apply it there it seems counterproductive
    Taxes are all distortionary. The question becomes how do you raise the required revenue with minimal distortion.

    If you have a sales tax and your neighboring state is lower, it will harm businesses near the border because people will cross the line to shop and then not pay use tax on things they bring back. This is less of a problem since the Wayfair case.

    If you have an income tax, it encourages people to live in Florida for 1/2 the year plus a day. Now they're using state services and not paying taxes.

    If you have a real property tax, as house prices go up people get priced out of homes they've owned for ages. To combat that, you can cap property tax increases, but now taxes on new purchases have to much higher to raise the revenue, and no one can afford to move.

    If you have a corporate income tax, then companies that shuffle all of their profits to a different jurisdiction using loans and transfer pricing won't pay any tax. If you have a gross earnings tax, like Washington's B&O tax, then companies that are actually losing money will be expected to pay tax, and they don't have any money.

    As for real vs personal property tax, consider a fab shop that produces large weldments vs a machine shop that makes small widgets. They both employ the same number of people and produce the same economic output. The fab shop is going to require more real property and less personal property. The machine shop is going to require more personal property and less real property. A system that taxes real property more heavily that personal property is going to distort things in favor of the machine shop.


    We could just have a Land Value Tax and Pigovian taxes to minimize distortion, but that will never happen.

  5. Likes Ox, TeachMePlease liked this post
  6. #104
    Join Date
    Apr 2005
    Location
    Beaverdam, Virginia
    Posts
    8,293
    Post Thanks / Like
    Likes (Given)
    964
    Likes (Received)
    4048

    Default

    A lot of cities have meal taxes here in Virginia. I pretty much never look at receipts, the business ones get saved, the others tossed. Being a same thing same place person back in Cali I was used to my fast food order to always costing the same unless there was a price increase. Here in Virginia it seemed Big Mac meal prices were all over the place depending where I bought them. I finally Googled and found out about meal tax. Meal tax was one of the few taxes Cali didn't have when I lived there.

    P.S. California did have a sales tax that varied by location, but that was usually by county and I lived in the largest one.

  7. #105
    Join Date
    Jan 2009
    Country
    UNITED STATES
    State/Province
    Ohio
    Posts
    898
    Post Thanks / Like
    Likes (Given)
    195
    Likes (Received)
    383

    Default

    Quote Originally Posted by as9100d View Post
    We are looking at Ohio or possibly Kansas

    Ohio is no tpp and Kansas has structures that would exempt us for 10 years or longer if we maintain their high performance employers rating.

    I'd rather not pay any tpp at all forever. With Kansas we would have to move again which wouldn't be a big deal considering all the money we save.



    Sent from my Pixel 3 using Tapatalk
    Look at Mentor Ohio as a possible location. Good area and that city does good abatement deals.

  8. #106
    Join Date
    Mar 2011
    Location
    Geneva Illinois USA
    Posts
    6,439
    Post Thanks / Like
    Likes (Given)
    2817
    Likes (Received)
    2521

    Default

    I haven't read through all the posts so this may have already been suggested. Talk to Ox, he is one of the most reliable contributors here. He's located West Unity, Ohio.




    Tom
    Last edited by Ox; 05-27-2020 at 02:43 PM.

  9. #107
    Join Date
    Feb 2006
    Location
    Republic of Texas
    Posts
    2,577
    Post Thanks / Like

    Default

    Quote Originally Posted by as9100d View Post
    Take a look here

    Sent from my Pixel 3 using Tapatalk

    Hhhmmmm,....... My home, 44 years, 1250 sq.ft. 2.77 acres. 2019 taxes: $1203.07.

    Shop, 31 years, 8250 sq. ft. 6.15 acres 2019 taxes; $1341.17

    personal property and equipment 2019 taxes; $1177.68

    As far as the business taxes go I don't think I could get anyone to work for me for $2518.85/ annually per your rant.

  10. #108
    Join Date
    Apr 2016
    Country
    UNITED STATES
    State/Province
    Texas
    Posts
    113
    Post Thanks / Like
    Likes (Given)
    65
    Likes (Received)
    55

    Default

    Quote Originally Posted by Finegrain View Post
    So, move to WA, buy some land out by Moses Lake, put up a crappy shop building, and stuff it with 5-axis machines . 1.2% TPP, 8% sales tax, no state income tax.

    Regards.

    Mike
    yeah but then you'd have to live in Moses Lake

  11. Likes J Gilles liked this post
  12. #109
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    Quote Originally Posted by alphonso View Post
    Hhhmmmm,....... My home, 44 years, 1250 sq.ft. 2.77 acres. 2019 taxes: $1203.07.

    Shop, 31 years, 8250 sq. ft. 6.15 acres 2019 taxes; $1341.17

    personal property and equipment 2019 taxes; $1177.68

    As far as the business taxes go I don't think I could get anyone to work for me for $2518.85/ annually per your rant.
    Sure what is the value of your personal property and equipment.

    I have a deduction value of 11.5 million and pay $370,000+ per year.

    Sent from my Pixel 3 using Tapatalk

  13. #110
    Join Date
    Aug 2010
    Location
    Medina OH
    Posts
    2,199
    Post Thanks / Like
    Likes (Given)
    270
    Likes (Received)
    1067

    Default

    Quote Originally Posted by as9100d View Post

    I have a deduction value of 11.5 million and pay $370,000+ per year.
    You've bragged elsewhere about how much money you make but now your taxes are too high?

    You've got some serious first world problems

    I agree taxation is theft. I also agree that you should move. I don't even know what some of the taxes your talking about are. I've never paid PPT or TPP or equipment or real personal property. But I'm an LLC. Your a C Corp? S Corp?

    You wanted a big shop, your paying big shop taxes. Sounds like the shop paying less has a better accountant.

    I'd tell you to move to Ohio, but you'd have to bring all your workers. Based on what you said you paid in the other thread, you'd be able to hire "operators", but no machinists.

    It's 94 here today, but 4 months ago it was -14.

  14. Likes shpxnvz liked this post
  15. #111
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    Quote Originally Posted by Fal Grunt View Post
    You've bragged elsewhere about how much money you make but now your taxes are too high?

    You've got some serious first world problems

    I agree taxation is theft. I also agree that you should move. I don't even know what some of the taxes your talking about are. I've never paid PPT or TPP or equipment or real personal property. But I'm an LLC. Your a C Corp? S Corp?

    You wanted a big shop, your paying big shop taxes. Sounds like the shop paying less has a better accountant.

    I'd tell you to move to Ohio, but you'd have to bring all your workers. Based on what you said you paid in the other thread, you'd be able to hire "operators", but no machinists.

    It's 94 here today, but 4 months ago it was -14.
    I highly doubt your operators make $30+ an hour.

    You don't pay tpp because your state doesn't have TPP. Its a tax on tangible property you already own. Furniture, tools, machines, material, computers, software, etc. Only 7 states in the USA don't have TPP tax and Ohio is one of them. Many others will exempt businesses that provide substantial employees to an area (which we do).

    The shops near that pay less are commiting fraud with the help of the local assessor and that will be addressed here shortly. Has nothing to do with having a better accountant.

    Sent from my Pixel 3 using Tapatalk

  16. #112
    Join Date
    Aug 2010
    Location
    Medina OH
    Posts
    2,199
    Post Thanks / Like
    Likes (Given)
    270
    Likes (Received)
    1067

    Default

    Quote Originally Posted by as9100d View Post
    I highly doubt your operators make $30+ an hour.

    You don't pay tpp because your state doesn't have TPP. Its a tax on tangible property you already own. Furniture, tools, machines, material, computers, software, etc. Only 7 states in the USA don't have TPP tax and Ohio is one of them. Many others will exempt businesses that provide substantial employees to an area (which we do).

    The shops near that pay less are commiting fraud with the help of the local assessor and that will be addressed here shortly. Has nothing to do with having a better accountant.

    Sent from my Pixel 3 using Tapatalk
    What you posted in the Xometry thread wasn't $30 an hour. If it was, then you were making a LOT less money than you were implying.

    Quote Originally Posted by as9100d View Post
    As I have said before, I only have a single lathe and a single mill dedicated to xometry work with two dedicated employees. They operate their own cell and do well.

    The cell, based on time logged, I have 110 hours logged this month. $14,790.04 total sales from xometry this month. $2,904.77 in materials and $4510.00 in labor costs.

    $7,375.27 gross profit for this cell. $116.22 an hour isn't terrible. It's not our normal shop rate but it's better than non iso work.


    Sent from my Pixel 3 using Tapatalk
    Wanna explain to me where and how you get $30/hr?

  17. #113
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    I have machinists, operators, engineers, and floor sweepers that range from $15 an hour my minimum pay all the way up to $300,000 salary.

    Point is for the $370,000+ saving per year.... I can hire more people and afford a move.

    Sent from my Pixel 3 using Tapatalk

  18. #114
    Join Date
    Apr 2019
    Country
    UNITED STATES
    State/Province
    Arkansas
    Posts
    1,294
    Post Thanks / Like
    Likes (Given)
    567
    Likes (Received)
    492

    Default

    Quote Originally Posted by Fal Grunt View Post
    What you posted in the Xometry thread wasn't $30 an hour. If it was, then you were making a LOT less money than you were implying.



    Wanna explain to me where and how you get $30/hr?
    I have more than one cell... My avg machinist makes around $30 an hour.

    So I'm sure I can hire a machinist for that in Ohio... And I'm sure an operator goes for $15-25 an hour there also.

    Part of your problem is you know nothing about my shop and that's ok.

    Fact is, I pay very competitive wages and I over pay on tpp tax.

    Arkansas is working on an abatement and refund for this year for me. Looks like we will be tpp tax free for 10 years if we hire 20 people this year. And 50 more by year 10.


    Deal.

    Sent from my Pixel 3 using Tapatalk

  19. #115
    Join Date
    Oct 2014
    Country
    UNITED STATES
    State/Province
    Maine
    Posts
    1,065
    Post Thanks / Like
    Likes (Given)
    157
    Likes (Received)
    502

    Default

    Quote Originally Posted by as9100d View Post
    I have a deduction value of 11.5 million and pay $370,000+ per year.
    Wow, $32.17 is a very high mill rate.

  20. #116
    Join Date
    Aug 2010
    Location
    Medina OH
    Posts
    2,199
    Post Thanks / Like
    Likes (Given)
    270
    Likes (Received)
    1067

    Default

    Quote Originally Posted by as9100d View Post
    I have more than one cell... My avg machinist makes around $30 an hour.

    So I'm sure I can hire a machinist for that in Ohio... And I'm sure an operator goes for $15-25 an hour there also.

    Part of your problem is you know nothing about my shop and that's ok.
    I only know what you’ve posted, and what you posted doesn’t follow with what you’ve posted. You said operators here don’t make $30/hr, implying yours do, to then say your machinists average $30/hr, with posting information that shows a pay much less than $30/hr.

    If you pay your machinists $30/hr, and they have a full benefit package, vision, dental, along with a low deductible GOOD health plan, with 6% or better 401k match, then yes, you’ll be able to hire machinist at $30/hr.

    But what you posted above isn’t $30/hr. And it sure doesn’t cover much of a benefit package. Given the independence that you’ve spoken of your Xometry cell, which it was just one cell, but now you’ve added cells? Congrats. I’d think with the independence they have, you’d want machinists, not operators. Or maybe you have a different definition of what is considered an operator around here.

  21. #117
    Join Date
    Apr 2005
    Location
    Beaverdam, Virginia
    Posts
    8,293
    Post Thanks / Like
    Likes (Given)
    964
    Likes (Received)
    4048

    Default

    I wonder what the employment market will look like for machinists in the few years ahead. Will wages drop, stay the same, or increase? I also wonder about the employment numbers. I am sure some sectors of manufacturing will be hurt for a long time into the foreseeable future. I have a feeling people manufacturing goods used by hobbyists will be hit hard. I think some food service sectors will get hit also. Don't know if the sectors benefiting from the pandemic will carry the ones hurt by it.

  22. #118
    Join Date
    Aug 2010
    Location
    Medina OH
    Posts
    2,199
    Post Thanks / Like
    Likes (Given)
    270
    Likes (Received)
    1067

    Default

    Quote Originally Posted by Dualkit View Post
    I have a feeling people manufacturing goods used by hobbyists will be hit hard. I think some food service sectors will get hit also.
    April and May I did zero work for the automotive, tool & die, or in general the industrial sectors.

    The "hobbyists" kept me busy.

    Looking at June, I don't have any RFQ's from industry. Quite a bit of "hobbyist" work scheduled.

  23. #119
    Join Date
    Feb 2019
    Country
    UNITED STATES
    State/Province
    New York
    Posts
    128
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    84

    Default

    Even with a downturn in work I still think wages will climb because the skills gap isn't closing any. Where I live is dead talent wise. All the old timers I learned from have retired and at 30 I find myself as the old guy . Most applicants I see are fresh out of trade schools that I am unimpressed with, and anyone older than me is usually a burn out that made a career change from pizza boy. I found the best method is to draft and develop guys starting with mechanical aptitude, preferably farm kids but it's time consuming and not without it's challenges

  24. #120
    Join Date
    Dec 2005
    Location
    Colorado
    Posts
    263
    Post Thanks / Like
    Likes (Given)
    1
    Likes (Received)
    407

    Default

    Quote Originally Posted by Fal Grunt View Post
    You've bragged elsewhere about how much money you make but now your taxes are too high?

    You've got some serious first world problems
    Anytime we pay a big tax bill, we celebrate, because it means we're making a lot of money. It's a lot better than the alternative ...

  25. Likes Fal Grunt, Ox, Garwood, gustafson liked this post

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •