Discussion:Corporeal personal property cost segregation vs income and sales tax

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Suannecpa (Talk | contribs)
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Proptaxguy (Talk | contribs)
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{{ForumNewPost|UserID=Suannecpa|Date=17 March 2008|Text=One of our clients are having a bit of a problem with the local sales taxing authorities. The local sales tax authorities are trying to define building construction materials as tangible personal property and wish to claim that structural components are retail sales in construction projects. The local tax code defines tangible personal property as corporeal personal property. Does anyone have an accepted definition of corporeal personal property and what it entails? Structural components for cost segregation purposes are definitely NOT tangible personal property but I'm not sure what "corporeal personal property" is actually defined as in the majority of tax regimes. }} {{ForumNewPost|UserID=Suannecpa|Date=17 March 2008|Text=One of our clients are having a bit of a problem with the local sales taxing authorities. The local sales tax authorities are trying to define building construction materials as tangible personal property and wish to claim that structural components are retail sales in construction projects. The local tax code defines tangible personal property as corporeal personal property. Does anyone have an accepted definition of corporeal personal property and what it entails? Structural components for cost segregation purposes are definitely NOT tangible personal property but I'm not sure what "corporeal personal property" is actually defined as in the majority of tax regimes. }}
 +
 +{{ForumReplyPost|UserID=Proptaxguy|Date=17 March 2008|Text=According to BusinessDictionary.com the definition is
 +
 +corporeal property
 +Definition
 +Real estate or personal property having a tangible form and structure, such as a building, equipment, vehicle, as opposed to intellectual property such as copyrighted works of authorship.
 +
 +What state are you located in?}}

Revision as of 18:33, 17 March 2008

Discussion Forum Index --> Advanced Tax Questions --> Corporeal personal property cost segregation vs income and sales tax
Discussion Forum Index --> Tax Questions --> Corporeal personal property cost segregation vs income and sales tax

Suannecpa (talk|edits) said:

17 March 2008
One of our clients are having a bit of a problem with the local sales taxing authorities. The local sales tax authorities are trying to define building construction materials as tangible personal property and wish to claim that structural components are retail sales in construction projects. The local tax code defines tangible personal property as corporeal personal property. Does anyone have an accepted definition of corporeal personal property and what it entails? Structural components for cost segregation purposes are definitely NOT tangible personal property but I'm not sure what "corporeal personal property" is actually defined as in the majority of tax regimes.

Proptaxguy (talk|edits) said:

17 March 2008
According to BusinessDictionary.com the definition is

corporeal property Definition Real estate or personal property having a tangible form and structure, such as a building, equipment, vehicle, as opposed to intellectual property such as copyrighted works of authorship.

What state are you located in?

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