meow meow meow

really things are funny

Saturday, October 07, 2006

On the Ballot
Constitutional Amendment Number 1
"Shall the Utah Constitution be amended to authorize the legislature to pass a law creating a property tax exemption for tangible personal property that generates an inconsequential amount of revenue?"
Voting For or Against
This is mainly for small businesses. right now each small business has to pay property taxes on tangible items, such as equipment, this is on all items in the office and they have to pay for it every year that they own the product. constantly having to update there tax forms to include new and old equipment.
The new amendment wants to make it so that if the small business that is claiming less than $3500 can be tax exempt. (this would be the case for the company i work for)
what they don't mention in the original question is what is the financial impact. Where will they supplement the money they are taking away? "... a slight shift in property tax burden to all other property taxpayers" this hidden in the utah voters information pamphlet

So what this mean is small business still have to do the same amount of paperwork to find out if they are exempt, and if not they have to pay like they normally would. As for average Joe property tax owner we just gets to pay more taxes.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home