Laundromat Resource › Forums › Financing › Personal Property Tax

last updated by Rob Scarborough 5 years, 5 months ago
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    • September 21, 2020 at 6:17 pm #2211
      Lisa/Robert
      Participant

        Does anyone have any input on personal property tax calculations? If you’re buying a mat with existing equipment that’s depreciated how do you value that equipment to pay tax on it?

      • October 29, 2020 at 7:57 pm #2401
        Rob Scarborough
        Participant

          Hi Lisa/Robert!
          I’m not a CPA, so this is just my experience. That said, from my understanding, a portion of the purchase price of the laundromat is for the equipment. I believe that number is a bit subjective, but one your CPA can help you determine.
          Once determined, the equipment will be depreciated from there.

          Are there any CPA’s that can confirm or correct me?

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      Laundromat Resource › Forums › Financing › Personal Property Tax