Tax & Accounting Blog

Governor Perry Vetoes Business Personal Property Tax Bill in Texas

Governor Perry Vetoes Business Personal Property Tax Bill in Texas

Texas Governor Rick Perry vetoed Senate Bill 1606, which would have granted taxing authorities the power to automatically attach an annual lien to all business personal property that any given business owns in Texas, including property outside that taxing authority’s jurisdiction. The current law allows appraisers to penalize taxpayers who move property around … Read More

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Washington, DC Trend in 2013: Temporary Property Tax Exemptions for Churches and Nonprofits

Act 19-664 enacts the “United House of Prayer for All People Real Property Tax Exemption Technical Temporary Act of 2013,” which amends the real property tax exemption so that the statutory exemption applies as of March 1, 2011. The exemption expires December 8, 2013. Act 19-665 enacts the “Beulah Baptist Church Real Property … Read More

Why Nature of Income Paid to Foreign Vendors Matters Part 3 – Uncategorized Income

Why Nature of Income Paid to Foreign Vendors Matters Part 3 – Uncategorized Income

In order for payments to foreign vendors to be timely made and correctly withheld and reported, accounts payable (AP) personnel need to know the nature of the income before payment is made, ideally before the invoice is received. Since many payments are based on the terms of the agreement, this can best be determined at … Read More

Texas Appeals, Arbitration and Appraisal Records

Texas Appeals, Arbitration and Appraisal Records

Texas recently passed two laws regarding changes to their appeals and arbitration processes along with a bill regarding military addresses in appraisal records. Alternative Property Tax Appeal H316 was recently passed, which provides an alternative appeal process for property owners with property valued at over $1 million. This bill offers such taxpayers in … Read More