The Canyon County Assessor’s Office is offering “how to and informational” meetings on the new business personal property tax procedure that is being implemented for all construction related companies in tax year 2012. The new procedure requires all construction companies statewide to be classed as “transient” accounts. This means that if they spend more than 29 days consecutively in any other county besides their home county, that county will be able to levy taxes on their construction equipment for the amount of time they were there. The key to this is more than 29 days consecutively (Idaho Code 63-201, Section 30.) If a company returns to their home county each evening and brings their equipment with them, then they would report all 12 months in their home county. However, if the equipment stays in any other county besides the company’s home county for more than 29 days consecutively, they would report the equipment as out of county and taxable to that other county.
The new transient personal property declarations will be mailed to companies by the middle of September and will not be due until the 15th of October each year. This will give companies 10 months to track the location of their equipment and to estimate the location of their equipment for the remaining two months. Please note that companies are only required to report to their home county, and by law, your home county will send reports to any other county you were in (Idaho Code 63-302.)
This new implementation will affect how companies pay their business personal property taxes.
To help companies better understand the changes to business personal property taxing and reporting procedures, the Canyon County Assessor’s Office has set up the following meetings:
September 27, 2012: 9 a.m. – 10 a.m.
September 27, 2012: 7 p.m. – 8 p.m.
The meetings are free to attend and will be held in the public meeting room on the 1st floor of the Canyon County Courthouse, located at 1115 Albany Street in Caldwell. Companies interested in attending are urged to call the Assessor’s office at (208) 454-7440.