We, as the owner of the leased equipment, is required to report all leased equipment, even if the equipment is leased by lessees in the government, church or non-profit sectors. Since we are not a tax-exempt entity and is the owner of the equipment, the lessee’s tax exemption does not pass to us. The tax assessors of each individual jurisdiction make the determination as to whether or not to assess taxes on the assets.
Under the terms of the lease agreement, the lessee agreed to reimburse us for any such taxes paid on...
Each taxing jurisdiction has a different lien date or fiscal start date for the year. There are 4 di...
Under the terms of the lease, a lessee is reimbursing us for property taxes paid on the lessee’s b...
A true-up is when we reconcile the estimated taxes paid by the lessee to the actual tax billed by th...
The property tax true-up is the reconciliation of actual property taxes paid by us on the leased equ...
We, as the owner of the leased equipment, is required to report all leased equipment, even if the eq...
Other companies do charge their customers taxes usually by building the cost into the lease factor r...
The property tax bill we receive contains information on all leased equipment in a given jurisdictio...
We use tax software that is used by many leasing companies to compute the tax estimate. The software...
Each jurisdiction that collects personal property taxes, taxes the owner of the equipment. We are th...
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