Tangible Personal Property Tax
April 19, 2010 by Ronald A. Rowe
Of all the taxes and fees that business owners must pay (and there are many), the least understood is probably the tax on tangible personal property (TPP). In fact, many small business owners don't even know what constitutes TPP. The confusion is intensified because the requirements vary from state to state. For example, some states consider certain types of vehicles to be TPP, while others do not. Some states will tax inventory, while others specifically exclude it.
All states do agree that tangible personal property is best described as everything that isn't real property. Real property is the ground and everything...
 
