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My US county (Wake County, NC) has such a tax... worse even. Each year I have to catalog every pencil, pen, paperclip and ream of paper in my office. The desk,
by dangrossman 5y ago
My US county (Wake County, NC) has such a tax... worse even.
Each year I have to catalog every pencil, pen, paperclip and ream of paper in my office. The desk, tables, shelves, printer ink, bottle of windex, each of my books, even individual USB cables all need to be listed. I need years acquired and purchase prices for every little object owned by each of my 4 businesses.
Each summer, a tax bill shows up for my personal property.
I generally don't mind taxes. I really don't. But this one I hate. It's such a colossal waste of time that I can't even hand off to an accountant.
- Danieru 5y agoWow that is indeed horrible. In Japan anything under 3k USD (30万円）would be discounted instantly and thus not count towards the capital tax. Furthermore there is a 15K USD （１５０万円）cliff below which no capital is levied but reporting is still required. Reporting down to the pen sounds horrible, and uncompetitive if other counties do not levy the same.
- aasasd 5y agoSounds like it would be much easier to reincorporate in a neighbour county. I don't know, of course, if the US law gives a damn about you not being located there.
- dangrossman 5y agoUS law does care where you're located. Physical nexus means the local county can tax me. The business is actually domiciled in another state where I used to live.