This promises to be a nightmare for small business. By way of a few examples, a company will need to evaluate whether its right to use tangible personal propert

This promises to be a nightmare for small business. By way of a few examples, a company will need to evaluate whether its right to use tangible personal property is actually its own property subject to personal property tax, sales tax and use tax. Generation transfer and businesses sale valuations will be impacted on a perishable lease "asset" values. There will be disputes about the differences between Fair Market Value and GAAP value. Even colocation, SAAS and software leases with terms greater than one year may be impacted by this rule.