Tax & Accounting Blog

Legislative Rule Amended for the Valuation of Commercial and Industrial Property in West Virginia

Legislative Rule Amended for the Valuation of Commercial and Industrial Property in West Virginia

Legislative Rule 110-01P (110-CSR-1P) has been amended, in part, to stipulate that when valuing commercial and industrial furniture & fixtures, machinery & equipment and leasehold improvement, the cost approach may be used due to the availability of data.  Also, when developing depreciation tables, the Marshall Valuation Service will be used.  (Source: L. 2013, Rule 110-01P … Read More

Town of Brattleboro to Establish Office of Assessments

Town of Brattleboro to Establish Office of Assessments

Vermont Legislation (L. 2013, H537, effective 05/24/2013) has allowed an Office of Assessment to be established and to have a Town Assessor appointed in the Town of Brattleboro. The Town Assessor will have the authority and be responsible to fulfill all duties assigned to the Listers under state law, including appraisal of all real and business property, … Read More

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Governor Dayton signed the new omnibus budget bill HF 677 on May 23, enacting a compromise on income tax rates worked out in conference between the state House and Senate which had passed different versions of the bill. The newly approved income tax rate structure is retroactive to January 1, 2013, and changes affect … Read More

Case Ruling in Favor of Exemption of Charitable Organizations in Montana

Case Ruling in Favor of Exemption of Charitable Organizations in Montana

Family Promise of Great Helena v. Dept. of Rev., Dkt. No. SPT-2012-8, 05/23/2013. A ruling by the Montana State Tax Appeal Board provides that a charitable organization was entitled to a property tax exemption in 2012 even though it did not file a timely exemption application. The organization was granted an exemption from the Department … Read More