Would you like to be alerted of new articles on Personal Property? Check out LawKT Premium. Law Firm Publications on Personal Property [See Also: News Articles] Last update: Mar 20, 2007 Davis Wright Tremaine: 2006 Charities Reform Legislation: How Will It Affect Y...  Aug 01, 2006 It also tightens rules concerning gifts of partial interests in tangible personal property (such as works of art) and requires donors to maintain a cancelled check, bank record, or receipt from the charity for charitable contributions of any amount. What s Missing Porter Wright: What is the Commercial Activity Tax (CAT)?  Oct 25, 2005 The CAT is being phased in over five years and will replace the corporate franchise tax and the tangible personal property tax, which are being phased out over the same time period. Taxpayers doing business in Ohio that are subject to the CAT and have more than $150,000 in Ohio-sitused gross receipts must register by November 15, 2005 and pay a small one-time fee Pepper Hamilton: More on the Streamlined Sales and Use Tax Agreement Tax...  Sep 09, 2005 This article is the second of two that discusses some of the more salient features of SSUTA, and the implications of SSUTA “going live.” Uniform Sourcing Rules Section 309 of the SSUTA requires sellers to source the retail sale of a product, regardless of its characterization as tangible personal property, a digital good, or a service, in accord with the provisions of Section 310. The final priority for sourcing is the address from which tangible personal property was shipped, from which a Miller & Chevalier: Utility Tax Alert - IRS Issues Simplified Service Cost ...  Aug 05, 2005 2005-53, selfproduced property is produced on a "routine and repetitive" basis only if it is either mass produced or has a high degree of turnover. Property is "mass produced" only if numerous identical goods are "manufactured" during the year using standardized designs and assembly line techniques Troutman Sanders: The Bankruptcy Abuse Prevention and Consumer Protection...  Jul 01, 2005 This new language will not, however, assist debtors who are lessees under personal property leases. Under certain circumstances, §365(b)(1)(A), as revised, excepts from the general cure requirement defaults relating to nonmonetary obligations of real property leases if it is impossible to now cure such defaults by performing nonmonetary acts at or after assumption Seyfarth Shaw: One Minute Memo - Tax Break For The Construction Indust...  Jun 03, 2005 Miller & Chevalier: Tax Controversy Alert - Pending Notice on Production Ac...  Jan 14, 2005 Among the key aspects of the forthcoming notice: · "In significant part." Property is treated as manufactured by the taxpayer in significant part in the United States if either (i) based on all of the taxpayer's facts and circumstances, the manufacturing, production, growth, or extraction activity performed by the taxpayer in the United States is substantial in nature; or (ii) the labor and overhead costs incurred by the taxpayer in the United States for the manufacture, production, growth, and Sheppard Mullin: $1000 Cap On Damages For TILA Violations (Personal Prop...  Dec 03, 2004 ...$1000 Cap On Damages For TILA Violations (Personal Property Loans) Remains In Place NS4 = (document. src = eval(imgObjName + ".src") } } -- Printer Friendly Page $1000 Cap On Damages For TILA Violations (Personal Property Loans) Remains In Place December 3, 2004 Click Here to View a PDF Copy of the Document Seyfarth Shaw: One Minute Memo - Chapter 121A Does Not Cap ?In Lieu of...  Nov 19, 2004 The developer is exempt from paying real and personal property tax for a period of time, but in lieu of taxes the developer must make an excise payment described in Section 10 and may agree to make additional payments in the contract with the city or town. The plaintiffs entered into contracts with the city of Boston providing for payment of the excise and an additional amount based on a varying percentage of gross retail rent collections Morrison & Foerster: Cogeneration Facility Entitled to Exemption From New Yo...  Nov 08, 2004 Specifically he held that: [M]ost States define the term "use" in its taxing statutes as an exercise of any right or power over tangible personal property by the purchaser. Clearly, once the purchaser takes possession of the tangible personal property, it may do one of a number of things to the property including reselling it Miller & Chevalier: Assembling the Pieces of the Domestic Manufacturers? De...  Nov 08, 2004 Domestic production gross receipts'' is defined to include the income from only certain types of transactions: (i) the lease, rental, license, sale, exchange, or other disposition of certain specific types of property, (ii) construction performed in the United States, and (iii) engineering or architectural services performed in the United States in connection with such construction. 2 or other disposition of certain other categories of property discussed below, the source of the income from such Jones Day: State Tax Return Newsletter  Aug 01, 2004 If the readers will indulge me a personal note, this is my last STR article as an associate at Jones Day. 02(B) which requires each consumer who acquires tangible personal property for storage, use or consumption in Ohio to pay the use tax on such acquisition Akerman Senterfitt: 06/01/04 - Insurance-Related Appellate Update  Jun 01, 2004 Insurance -- Homeowners -- Exclusions -- Trial court properly found that coverage for structural damage to home and personal property loss caused by nearby blasting activities was excluded by earth movement exclusion in policy -- Under policy language, damage resulting from explosion would be covered only if the explosion followed a specifically listed natural disaster or peril, and the damage in question was caused by man-made explosions. Fayad v. Clarendon National Insurance Co., 857 So Lane Powell: Are You Paying Too Much Property Tax?  May 12, 2004 ARE YOU PAYING TOO MUCH PROPERTY TAX. If you think property taxes are a fixed cost of doing business, think again Michael Best & Friedrich: Financial Institutions Alert (November 2003) - Signific...  Nov 01, 2003 617) Under existing Wisconsin law, your disposition of collateral consisting of personal property (e. The net effect is to give superpriority status to state and local governmental liens inpersonalpropertyandfixtures Chapman and Cutler: August 2003  Aug 01, 2003 "Safe Harbor" Under IRS Final Prepayment Regs for Extended Warranties for Personal Property and Computer Software Support Services, Updates or Maintenance On August 1, 2003, the Internal Revenue Service released its final prepayment regulations (the "Final Prepayment Regs"), which contain (among other things) a "safe harbor" that clarifies what had been a significant obstacle for the tax-exempt financing of extended warranties with respect to personal property (such as automobiles and electronic Hale and Dorr: Cybertrespass: The Final Stage?  Jul 30, 2003 Reversing the appellate court decision, the court ruled that sending mass emails does not constitute trespass to chattels unless there is evidence of damage to the plaintiff's personal property. Traditionally, trespass to chattels occurs only if the use, or "intermeddling," of the property results in impairment to the physical condition, quality or value of the item, or deprives the owner of use for a substantial period of time Foley Lardner: Florida Intangible Personal Property Tax Alert (PDF)  Jul 24, 2003 Morrison & Foerster: Recent California FTB Administrative Developments  Jul 15, 2003 The issue involves what constitutes “qualified property” under the California Manufacturer’s Investment Credit (MIC). Minnis held that a ready mixer truck, comprised of a truck chassis and mixer barrel (including the accompanying components and hydraulic system) constitutes a “single integrated piece of manufacturing equipment,” and thus the entire truck satisfied the requirement of “qualified property” for purposes of the MIC. The FTB’s position in Minnis, as well as its position in (now Miller Canfield: California Supreme Court Rules in Favor of Former Emplo...  Jul 01, 2003 Intel sued Mr. Hamidi on the basis that his e-mail messages constituted a 'tresspass to chattel', or the wrongful use of another's personal property. The California Supreme Court found that Mr. Hamidi neither damaged Intel's computers nor caused the company any significant loss Blank Rome: Private Client Group Estate Planning Alert  Jul 01, 2003 We recently became aware that the New York State Department of Taxation's interpretation of the new Federal Estate Tax Act, and its impact on New York's estate tax laws, can potentially have an adverse result for a non-New York domiciliary who continues to own real property or tangible personal property located in New York at death. New York imposes an estate tax on non-resident decedents, with assets over $1,000,000, who owned real property or tangible personal property located in New York at Akerman Senterfitt: 05/14/03 - Bankruptcy Update Spring 2003  May 14, 2003 Centralized Filing of Judgment Liens on Personal Property. A lien is created against the judgment debtor's real property by recording a certified copy of the judgment with the Clerk of the Court in the county where the real property is located Lane Powell: Creditors' Rights In Oregon And Washington  Mar 28, 2003 A. Real Property Options 1. Another advantage hi a non-judicial foreclosure is that there is no right of redemption after the sale, regardless of whether the property is residential or commercial Haynes and Boone: 2/27/2003 - Mold Disclosures in Real Estate and Lease T...  Feb 27, 2003 Moreover, mold has captured the attention of personal injury lawyers, resulting in a wave of bodily injury claims, despite the ongoing disagreement within the medical community about the effects of mold on human health. Indeed, as people purchase and lease homes, apartments and commercial space, they are increasingly concerned about mold impacting their health, personal property, financial well-being, property values and resale prospects Morrison & Foerster: Electricity is Not Tangible Personal Property for Sales...  Jan 27, 2003 Morrison ter - Legal Update - Electricity is Not Tangible Personal Property for Sales Factor Purposes in California This update addresses recent state and local tax developments. In support of this definition of tangible personal property, the FTB relied upon an expert report prepared by Joe Fajans, a Physics Professor at the University of California, Berkeley. Next, the FTB argued that since electricity is tangible personal property, sales of electricity to customers within California should be Thompson & Knight: 10/04/2002 - 341 Meeting of Creditors Examines the Debt...  Oct 04, 2002 This is because the vast majority of meetings involve consumer cases, in which debtors have few assets and (in Texas) have substantial exemptions that by law allow them to keep homes, pensions and personal property. If creditors do not attend a meeting, they must trust the bankruptcy system to ensure that debtors are truthful in the financial information they provide Vinson Elkins: Texas Sales Tax: Pitfalls and Opportunities for Softwar...  Oct 01, 2002 Vinson & Elkins: "Texas Sales Tax: Pitfalls and Opportunities for S...  Oct 01, 2002 Kirkpatrick & Lockhart: Pennsylvania Supreme Court Reverses Its Previous Decisi...  Oct 01, 2002 TheCityofPhiladelphiaclaimedapublicutilityexclusion for property purchased and used to build a taxiway, a tunnel and a baggage claim facility at the Philadelphia InternationalAirport. The Tax Reform Code of 1971 provides for an exclusion from the Pennsylvania sales and use tax to provide for "the purchase and use of tangible personal property and services predominantly and directly used in producing, delivering or rendering public utility service, orconstructing, repairing and maintaining Foley Lardner: Florida Intangible Personal Property Tax Alert (PDF)  Sep 24, 2002 Musick Peeler & Garrett: ?LOSS OF USE? UNDER ?PROPERTY DAMAGE? COVERAGE REQUIRES...  Sep 05, 2002 Musick Peeler tt LLP MP&G Library - Articles “LOSS OF USE” UNDER “PROPERTY DAMAGE” COVERAGE REQUIRES A PRIOR OWNERSHIP OR POSSESSION OF THE PROPERTY Teresa Cho September 5, 2002 In Cunningham v. Universal Underwriters, 98 Cal.App. 4th 1141 (2002) the Court of Appeal interpreted the phrase “loss of use of tangible property” under the “property damage” coverage of CHL policies Bricker & Eckler: Manufacturing and Logistics Tax Incentives in Ohio 2002  Sep 01, 2002 05(B)(2) In calculating the apportionment ratio for the net income tax and net worth tax, three factors are used: property, payroll and sales. e., those whose payroll and property factors are larger than the sales factor) will have a smaller apportionment ratio, and thus a relatively lower tax liability, than those taxpayers whose presence in Ohio is more market -oriented (i Weil: Allowed Property Tax Claims Limited to Value of Propert...  Aug 01, 2002 Replace Font Tag Bankruptcy Bulletin Allowed Property Tax Claims Limited to Value of Property Remaining in the Bankruptcy Estate August 2002 Download Newsletter By Jeffrey R. Gleit In Universal Seismic Associates, Inc. v. Harris County (In re Universal Seismic Associates, Inc.), the United States Court of Appeals for the Fifth Circuit held that under section 502(b)(3) of the Bankruptcy Code, a claim by taxing authorities for property taxes is limited to the gross value of the property that Reinhart Boerner Van Deuren: The Overlooked Obligations of the Wisconsin Caregiver L...  Jul 26, 2002 As part of the Caregiver Law, many health care providers were obligated to conduct criminal background checks on both new and existing employees and independent contractors that had regular, direct contact with patients or their personal property. Providers were required to begin conducting checks on all new employees starting October 1, 1998 Musick Peeler & Garrett: COURT OF APPEAL: PERSONAL INJURY COVERAGE FOR WRONGFUL ...  Jul 22, 2002 Musick Peeler tt LLP MP&G Library - Articles COURT OF APPEAL: PERSONAL INJURY COVERAGE FOR WRONGFUL EVICTION REQUIRES ACTUAL REMOVAL OF THE CLAIMANT FROM REAL PROPERTY David A. Tartaglio July 22, 2002 The California Court of Appeal recently issued a ruling in Cunningham v. Universal Underwriters, 98 Cal.App. The court held that this form of “Personal Injury” coverage is limited to claims based on an actual ejection or removal of the claimant from land the claimant previously occupied and does Sullivan & Worcester: Massachusetts Sales Tax Exemption For Purchases Of Util...  Jul 01, 2002 ...write( '' ); // -- Massachusetts Sales Tax Exemption For Purchases Of Utilities By Businesses With Few Employees Tax Department Client Advisory #2002-07 July 2002 Printable version (Adobe PDF) Massachusetts generally collects a sales tax on purchases of tangible personal property, and also gas, electricity, and steam, at a rate of five percent (5%) of the gross receipts collected by the seller. This exemption could benefit businesses with large property holdings such as externally advised Real Blank Rome: July 2002  Jul 01, 2002 The Act also lists certain specific activities that will create sales tax nexus, i.e., entering Pennsylvania to provide assembly, service or repair of tangible personal property; and delivering tangible personal property into Pennsylvania if the delivery includes the unpacking, positioning, placing or assembling of the property. The definition of “real estate structure” has been changed to make it clear that certain types of property known as “building machinery and equipment,” which a Allens Arthur Robinson: Focus: Banking & Finance  May 13, 2002 The new legislation is a major reform of the law relating to security over personal property, which has application for Australian companies operating, or lending funds, in New Zealand, writes AAR Partner Ben Parsons. Background Scope How it affects you and what you should do Background New Zealand's Personal Properties Securities Act 1999 (PPSA) creates a new online registration regime which captures a wide range of transactions, some of which have not needed to be registered in the past, for Greenberg Traurig: Did You Pay Too Much New York Sales Tax on That Compute...  May 01, 2002 Although the purchase of software used to design or develop software is not subject to this exemption, prewritten computer software used or consumed directly and predominantly in the production of tangible personal property for sale, or directly and predominantly in research and development, is exempt from sales tax. (Prewritten software is defined by statute to be tangible personal property and its retail sale is subject to sales tax, in contrast to custom-designed software, the retail sale of Bricker & Eckler: Personal Property Tax Issues  Apr 01, 2002 08(A) provides that patterns, jigs, dies and drawings held for use and not for sale in the ordinary course of business are not tangible personal property. Hence, such items are not subject to personal property taxation Bricker & Eckler: Personal Property Tax Issues  Apr 01, 2002 Coming Clean Under EPA's Audit Policy May 2004 An environmental compliance bulletin for hospitals on the value of a compliance audit and the adoption of the "Audit Policy" by the U.S. EPA. Armatus Newsletter - Spring 2004 May 2004 Discussion of protecting intellectual property assets in a competitive marketplace and source code escrow. Ancillary Joint Ventures With For-Profit Entities May 2004 Bulletin on June 1, 2004 IRS Revenue Ruling on the tax consequences to a tax-exempt organization Bricker & Eckler: Sales & Use Tax and Construction Contractors  Apr 01, 2002 03 of the Revised Code, a construction contract pursuant to which tangible personal property is or is to be incorporated into a structure or improvement on and becoming a part of real property is not a sale of such tangible personal property. The construction contractor is the consumer of such tangible personal property, provided that the sale and installation of carpeting, the sale and installation of agricultural land tile, the sale and erection or installation of portable grain bins, or the Greenberg Traurig: New York Affirms that a Contribution of Capital to a Co...  Mar 01, 2002 The New York State Division of Tax Appeals, in a decision by an administrative law judge,1 recently reaffirmed the rule that, although not subject to federal income tax, a capital contribution of tangible personal property to a corporation, except in certain cases narrowly defined by statute, is a retail sale subject to sales tax. Every sale of tangible personal property is subject to tax unless exempted Thompson Hine: Download PDF  Mar 01, 2002 Accelerated Sales Tax on Personal Property Leases. Among other provisions, discussed below, the Bill accelerates the collection of sales tax on most personal property leases entered into on or after February 1, 2002 Gordon & Rees: Ananda Church of Self-Realization v. Massachusetts Bay ...  Feb 07, 2002 4th ___, 02 Cal. C.D.O.S. 1184 Taking Documents from Trash to View Their Contents Does not Constitute "Property Damage" Because the Party Discarding the Documents does not Retain a Property Interest in Them and Because the Information is not "Tangible Property". Appellate District, affirmed a Sacramento County Superior Court ruling on demurrer that allegations of document theft could not constitute property damage and did not create the potential for coverage under the insured's policy when the Lowenstein Sandler: "New Jersey Supreme Court Holds Corporate Officers...  Feb 01, 2002 New Jersey Supreme Court Holds Corporate Officers Not Personally Liable for Alleged Negligence. Appellate Division reversed and concluded Factually, the conduct at issue arose after that the individual defendants could be held the corporate defendant (GSI) entered into a liable under the so-called "participation contract with the plaintiff to design and theory of personal liability," which provides prepare specifications for turfgrass to be used that a corporate officer can be held on athletic Weil: 2001: The Year In Review  Jan 01, 2002 In the area of statutory law, the most significant event in 2001 concerned revised Article Nine of the Uniform Commercial Code, which governs security interests in personal property. The revised article was adopted by all fifty states and became effective on July 1, 2001 Epstein Becker & Green: Strategy Development & Decision-Making: Identifying the...  Dec 04, 2001 Real Estate, Personal Property & Equipment 3. Intellectual Property Rights 14 Foley Lardner: How New Secured Lending Legislation May Affect Your Bus...  Sep 17, 2001 Lane Powell: Oregon: Multistate Taxation and E-Commerce  Jul 01, 2001 010(4)(1), Example 1; The taxpayer is doing business in Oregon is the taxpayer sells tangible personal property in Oregon and maintains a stock of goods or place of business in Oregon. P.L. 86-272 generally bars state income taxation of interstate businesses whose only contact or nexus with the taxing state is through salesmen or independent contractors who solicit orders of tangible personal property in-state for out-of-state approval and fulfillment Debevoise: Revised Article 9 Enacted by New York State Legislature  Jun 22, 2001 Revised Article 9 is a comprehensive overhaul of the existing legislation governing security interests in personal property. Although the statute has been completely redrafted, the basic concepts remain much the same Loeb & Loeb: New Privacy Regulations for Financial Institutions  May 01, 2001 Scope The privacy Rules apply to nonpublic personal information about individuals who obtain financial products or services primarily for personal, family or household purposes, or for the individual's legal representative, from a financial institution. These entities include businesses that are financial in nature, such as mortgage lenders and loan servicing companies agents for leasing real or personal property appraisers of real or personal property collection agencies credit bureaus Morrison & Foerster: The New Economy Raises New Challenges and New Opportuni...  May 01, 2001 Virtually every state regime, at a minimum, distinguished between tangible personal property and items other than tangible personal property. UDITPA, for example, generally sources sales of tangible personal property to where the property is delivered, while sourcing all other sales, including sales of services and other intangible property, pursuant to an “income-producing activity” test (discussed below) Morrison & Foerster: The New Economy Raises New Challenges and New Opportuni...  May 01, 2001 Virtually every state regime, at a minimum, distinguished between tangible personal property and items other than tangible personal property. UDITPA, for example, generally sources sales of tangible personal property to where the property is delivered, while sourcing all other sales, including sales of services and other intangible property, pursuant to an “income-producing activity” test (discussed below) Morrison & Foerster: The New Economy Raises New Challenges and New Opportuni...  May 01, 2001 Virtually every state regime, at a minimum, distinguished between tangible personal property and items other than tangible personal property. UDITPA, for example, generally sources sales of tangible personal property to where the property is delivered, while sourcing all other sales, including sales of services and other intangible property, pursuant to an “income-producing activity” test (discussed below) Morrison & Foerster: The New Economy Raises New Challenges and New Opportuni...  May 01, 2001 Virtually every state regime, at a minimum, distinguished between tangible personal property and items other than tangible personal property. UDITPA, for example, generally sources sales of tangible personal property to where the property is delivered, while sourcing all other sales, including sales of services and other intangible property, pursuant to an “income-producing activity” test (discussed below) Ober Kaler: Is a Titling Trust Right For You?  Apr 01, 2001 FROF: Deductibility of Personal-Property Donations Can Be Tri...  Jan 15, 2001 FROF Articles - Deductibility of Personal-Property Donations Can Be Tricky function displayAttorney(aID) { win = window. open("/inside/attorney.asp?IC=y aID,'_blank','menu=yes,height=410,width=630,scrollbars=yes,toolbar=yes,location=no,directories=no,status=no,resizable=yes'); } Deductibility of Personal-Property Donations Can Be Tricky by Mark L. Silow Reprinted with permission from the January 15, 2001 New Jersey Law Journal. Copyright 2001 NLP IP Company." Each year, Americans donate vast Buchalter Nemer: Landlord Liens: How Big of an Impact?  Dec 01, 2000 Liens arising by way of statute: Statutorily provided landlord liens currently exist in 21 states (including Arizona, Florida, New Jersey, Texas, and Pennsylvania) providing landlords with liens on their tenants personal property to secure delinquent lease obligations. Some of these statutes limit the landlord s lien to the personal property of the tenant while it is physically located on the leased premises, while others permit the lien to attach to the personal property of the tenant that has Greenberg Traurig: Sales Exemption Expanded to All Charities  Dec 01, 2000 The Florida sales and use tax is applicable to purchases of tangible personal property and leases of non-residential real estate. A nonprofit organization, except churches in the case of tangible personal property, will continue to be required to collect sales and use tax when the organization is acting as a retailer or lessor Hayboo: *653 Arbitration: Arbitration in the 21st Century: Wher...  Dec 01, 2000 The statutory lien encumbers the tenant's property to secure rent that is due and owed for the current 12-month period (calculated with reference to the start of the lease). Basic Steps – For most landlords, obtaining a security interest in the tenant's property is a two step process: (1) attach the lien; then, (2) perfect it Akin Gump: Uniform Commercial Code Filings In Tradename Are Insuff...  Nov 01, 2000 This means that creditors who have not properly perfected security interests in a debtor's property may have their lien avoided or made ineffective against the debtor or its property. In order to maintain a security interest in property senior to the debtor as a hypothetical lien creditor, the creditor must possess a perfected security interest on the date the debtor files its bankruptcy petition McDermott: Important Changes to Florida’s Intangibles Tax  Oct 01, 2000 ...selectedIndex=0; } Please select a language: English Italian German PUBLICATIONS NEWSLETTERS IMPORTANT CHANGES TO FLORIDA S INTANGIBLES TAX October 2000 Florida imposes an annual tax on intangible personal property owned by its residents, as well as on such property held in certain trusts of which Florida residents are beneficiaries, all as of January 1 of each year. e. on or after January 1, 2001), the trustee of a trust no longer has any responsibility for returning the trust's intangible McDermott: Important Changes to Florida’s Intangibles Tax  Oct 01, 2000 ...selectedIndex=0; } Please select a language: English Italian German PUBLICATIONS NEWSLETTERS IMPORTANT CHANGES TO FLORIDA S INTANGIBLES TAX October 2000 Florida imposes an annual tax on intangible personal property owned by its residents, as well as on such property held in certain trusts of which Florida residents are beneficiaries, all as of January 1 of each year. e. on or after January 1, 2001), the trustee of a trust no longer has any responsibility for returning the trust's intangible Ober Kaler: Maryland Exempts Equipment from UCC Recordation Tax  Oct 01, 2000 Ober Kaler: Use A Synthetic Lease To Finance Equipment Under A Loca...  Oct 01, 2000 Akin Gump: Debtor's Use Of Leased Personal Property Results I...  Aug 01, 2000 AUGUST 9, 2000 DEBTOR'S USE OF LEASED PERSONAL PROPERTY RESULTS IN ADMINISTRATIVE CLAIM A Chapter 11 debtor has until plan confirmation to assume or reject leases of personal property. In the first 60 days of the bankruptcy case, the debtor is not required to pay rent on leased personal property Mayer Brown: Bankruptcy & Reorganization Newsletter - Congress Passe...  Jul 23, 2000 Rights of Lessee-Tenant Clarifies the rights of a lessee by allowing the lessee to remain in possession and to retain its "rights under the lease." Personal Property Provides that a debtor must perform its obligations under an unexpired lease of personal property starting on the sixtieth day after the filing of a bankruptcy until the lease is either assumed or rejected. Security Interests in Rents Provides that a secured creditor will be deemed to have a security interest in post-petition real Akin Gump: Supreme Court Ruling Limits Charges Against Lender'...  Jun 21, 2000 As a result, Hartford sought to surcharge the lender's collateral, which included real and personal property where the restaurants were operated, in order to recoup the premiums it advanced to the debtor. lender's collateral based upon the plain language of Section 506(c), which provides that, "[t]he trustee may recover from property securing an allowed secured claim. . ." The Court found this language to be exclusive and not applicable to any other party in interest Miller Canfield: Hot Points  Oct 01, 1999 Kimberly A. Paulson 313/496-7627 LITIGATION LECTUAL PROPERTY Avoid these web site pitfalls. Kathryn L Ossian 313/ 496-7644 LITIGATION LECTUAL PROPERTY Michigan's personal property tax changes could benefit business, pinch local government Venable: "Internet Tax: An Uncharted Sea"  Jul 07, 1999 Although the mere presence of a fulfillment house in Kansas will probably not make you liable for sales or use tax there, if you own a server and property or inventory at the fulfillment house, the result would likely be different. There may also be inventory or personal property tax issues there Heller Ehrman: Durbin-Delahunt Bill Report  Aug 29, 1998 Significantly, these provisions would impede future transactions and would be applied retroactively to invalidate property rights in existing transactions in which billions of dollars of credit have been extended to both business enterprises and consumers. First, the Act would confer on a trustee in bankruptcy considerably expanded avoidance powers with respect to a debtor's pre-bankruptcy transfers of property, including security interests in personal property Jones Day: State Tax Return Newsletter  Jul 31, 1998 Jones Day: State Tax Return Newsletter  Jan 31, 1998 097 now provides: There shall be exempt from ad valorem tax for state purposes, personal property placed in a warehouse or distribution center for the purpose of subsequent shipment to an out-ofstate destination. Personal property shall be deemed to be held for shipment to an out-ofstate destination if the owner can reasonably demonstrate that the personal property will be shipped out-of-state within the next six (6) months Isaacson: Reducing Property Taxes Made Harder  Jan 01, 1998 However, the Colorado Supreme Court has cracked down on property tax services that are often engaged by taxpayers to pursue these appeals. Property tax companies have provided appraisal services to assist in protesting assessors' valuation of real and personal property Weil: The Year in Review  Dec 01, 1997 These cases raise the issue of what is the appropriate collateral value of property retained by the debtor in a cramdown plan of reorganization. The Court defined replacement value as the price a willing buyer in the debtor s trade, business, or situation would pay a willing seller to obtain property of like age and condition Weil: Financial Instruments  Oct 01, 1997 Capital Gain/Loss Treatment for Certain Dispositions of Property Expanded The disposition of a capital asset generates capital gain or loss only if the form of disposition is a sale or exchange, which did not include certain forms of disposition, such as cancellations, lapses, abandonment and forfeitures. Because of the gap developed over the years between dispositions treated as sales or exchanges and dispositions not so treated, with careful structuring taxpayers were able in some Morgan Lewis: Local Tax Matters - Tax Exempt Institutions; Local Busi...  Jun 18, 1997 Local Property and Privilege Taxes Non-profit Charitable Institutions; Local Business Taxes, Extent of Local Taxation Powers, and Recent Cases. The General Assembly may by law exempt from taxation: "Institutions of purely public charity, but in the case of any real property tax exemptions only that portion of real property of such institution which is actually and regularly used for the purpose of the institution." HUP Case Jeffer Mangels Butler: Hotel Tax Update: ?Free Meals?  Oct 01, 1996 Accordingly, sales tax may be due upon the hotel’s acquisition of the ingredients, as well as the tangible personal property used in preparing and serving the meals. Planning Point: Regardless of the outcome of the de minimis test, if a hotel regularly sells its otherwise complimentary meals and beverage to the general public, the hotel will be treated as “retailer”, and those meals and beverages may be subject to sales tax Isaacson: New Law Makes Security Interest Review Prudent  Jul 01, 1996 Greenberg Traurig: Ad Valorem Tax Assessments Legislation Could Mean Subst...  Apr 01, 1996 The proposed bills, while expected to increase total revenue realized to local governments by approximately $78 million, would drastically escalate the property tax burden of real estate developers. The proponents of the bills contend that the public policy of allowing partial year tax assessments of real personal property to increase revenues outweighs any adverse effects upon the development community Chadbourne & Parke: Sale of Foreign Franchises Leads to Argument with the I...  Mar 01, 1996 As a general rule, gain from the sale of "personal property" generates U.S. source income if the seller is a U.S. resident. Intangible assets -- like stock in a foreign subsidiary and a franchise to run a business in a particular region -- are ordinarily considered "personal property." For this reason, U.S. companies selling stock in foreign subsidiaries or offering franchises to distribute their products overseas often hold the overseas rights through an offshore holding company Greenberg Traurig: Negotiating Or Renegotiating A Lease  Jan 01, 1996 Tenant fixtures: Some leases provide that improvements attached to the space become the property of the landlord at the end of the term of the lease. Landlord s lien: Most form leases contain a grant of landlord s lien on the tenant s personal property, including inventory Jeffer Mangels Butler: Past Hotel Industry Problems Present Opportunities for ...  Aug 01, 1994 Thus the profitability and value of each property depends on a variety of factors that should be examined in accordance with one another to see how each factor can benefit from the general recovery. Because hotels are going-concerns that are situated on real estate, the lender must encumber those aspects of the borrower’s property that are not typically covered by the mortgage or deed of trust Ciccorp   As to alleged conversion of the “takeaim.com” domain name, the court noted that Texas common law of conversion required the wrongful dominion and control over another’s personal property, and plaintiff failed to identify any authority extending liability for conversion to unlawful control over intangible property such as an Internet domain name Taxation Alert (April 23   Property Tax On Computers And Related Equipment ­ Administrative Oversight Might JeopardizePropertyTaxExemptionForComputers, According To City Of Madison Assessor. First effectivefortheJanuary1,1999assessment,Wisconsin exemptsfrompropertytaxationmainframecomputers, minicomputers,personalcomputers,networkedpersonal computers, servers, terminals, monitors, disk drives, electronic peripheral equipment, tape drives, printers, basicoperationalprograms,systemssoftware,prewritten ("canned") software Intel Corporation v. Hamidi (June 30   In its lawsuit, Intel relied on rules of property law in arguing that Hamidi illegally trespassed onto its "chattel", or personal property, (i. e., the computer system) by sending about six emails to 30,000 current employees %20Brad%20REITs.pdf   Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Hotel/Motel Legal Update Volume 2   ...hen a buyer agrees to acquire an existing hotel, when a developer wants to build a new hotel or when an owner seeks to refinance the debt secured by his hotel property, one of the first issues that comes to mind is how the acquisition, development or refinancing will impact the hotel's "bottom line." Acquisitions, construction projects and refinancings all involve obtaining a loan, generally secured by the hotel's improvements, personal property and other business assets. What will be the "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid : IMMIGRATION ALERT: Recent News from DOS   ...visibility = "visible"; } } //-- PublicationHot TopicsPublicationsFirm Seminars3/6/1998 - Oil and Gas Liens and Foreclosures - A Multi-State Perspective AuthorsTerry I. CrossJason T. BarnesRelated Practice GroupsEnergy/PowerFinanceReal Estate Liens and Foreclosures CLE/Symposium Real Property Law Section Oklahoma Bar Association and The Oklahoma Law ReviewIntroductionThis article is an attempt to provide both a general overview of issues that arise in creating, perfecting and enforcing liens on Akin Gump: Articles   He also was integrally involved in other completed and ongoing regulatory projects, including projects relating to the subpart F consequences of hybrid entity structures, the sourcing of losses on sales of personal property, the treatment of step-down preferred stock transactions, the taxation of FASITs, corporate tax shelter registration requirements and interest expense allocations. Mr. Leblang also participated in a number of negotiations with current and prospective U.S. tax treaty partners Ballard Spahr: Pennsylvania Department Of Revenue Concludes Sales Tax ...   As a result, the tower is tangible personal property the lease or license of which is subject to sales tax. Sales tax is imposed on the lease or license of tangible personal property (other than property specifically exempted from the tax) Blank Rome: Owners Of Self-Storage Facilities Must Pay Philadelphia...   That tax was passed by the City of Philadelphia by enabling legislation known as the "Tax Anything Act" which authorizes City Council to levy such taxes within the city as it may determine, except for any "privilege, transaction, subject or occupation or on personal property which is now or may hereafter become subject to a State tax or license fee . . . " Based on this statutory authority, the City of Philadelphia has imposed the applicable tax for general school purposes on the use or Briggs & Morgan: Amendments to MN Sales Tax Eqpmt. Statute Unconstitutio...   One of the many structural changes made by the 1993 Amendments was the deletion of the requirement to manufacture a "product" and its replacement by the words "tangible personal property." In the litigation, RSA-10 conceded it did not produce tangible personal property, but maintained that it did manufacture a "product." RSA-10 also claimed that the 1993 Amendments were unconstitutional and the old Capital Equipment Statute applied since it had no notice of the radical changes. The Tax Court Dinsmore & Shohl: Ohio Adopts Revised Article 9 of the Uniform Commercial...   Where to File Financing Statement Revised Article 9 does away with the current "dual filing" system for financing statements for most personal property (i. e., not real property related) collateral Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Intel’s argument was based on a legal theory known as “trespass to chattels” (or trespass to personal property). Usually, liability for such a trespass occurs when the trespasser damages the personal property or deprives the owner of the use of the property for a time but does not steal the property Finnegan Henderson: Dorer v. Arel   In assessing whether a domain name was the type of property subject to a lien, the court disagreed with the Virginia Circuit Court’s reasoning in Umbro that domain-name registrations were personal property subject to liens. The court also reasoned that because the judgment debtor owned no trademark rights in the domain name, the registration entailed only contract rights; any value creating a property interest in the domain name had to be added by the lawful user, not the judgment debtor Goodwin Procter: Estate Planning Questionnaire   Personal Information. Are there special personal considerations, such as health, stepchildren, adopted children, prior marriages for either spouse Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   The rules presume that such contracts include a 50% non-taxable service component and a 50% taxable tangible property component in the form of storage media for program upgrades or error corrections. Under the prior rule, payments for services provided under optional lump sum software maintenance contracts were not subject to sales tax, but any tangible property provided to the customer in connection with the performance of the contract typically was subject to sales tax Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   New 30% First-Year Special Depreciation DeductionFor qualified property acquired after September 10, 2001, and before September 11, 2004, a taxpayer may make an additional first-year depreciation deduction equal to 30 percent of the adjusted basis of such qualified property. The additional deduction is allowed for both regular tax and alternative minimum tax purposes for the taxable year in which the property is placed in service Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   5 Summary of California Law California Revenue and Taxation Code Section 6203 imposes a collection obligation on any retailer engaged in business in the state that makes sales of tangible personal property for storage, use, or other consumption in the state. Any retailer having any representative, agent, salesperson, canvasser, independent contractor, or solicitor operating in this state under the authority of the retailer or its subsidiary for the purpose of selling, delivering, installing, Gray Cary: Intangible Property May be Subject to California Sales ...   "2 Transferring tangible property, such as paper or a disk, in connection with transferring intangible property, may cause the intangible property to be taxable. This may be the case even though the vast majority of the sales price represents payment for either the value of the content, or the value of the services that produced the content, with the tangible property being merely a convenient way of transferring the content.3 The entire sales price is taxable unless an exemption applies, such Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Masuda Funai: Companies Should Examine their Procedures After Court A...   McGlinchey Stafford: Within the Firm (McGlinchey news)   McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McKenna Long & Aldridge: Contracting with the Federal Government   GSA's Federal Supply Service provides federal customers with the products, services, and programs to meet their supply, service, procurement, vehicle purchasing and leasing, travel and transportation, and personal property management requirements. The firm provides business solutions in the areas of government contracts, public policy and regulatory affairs, corporate law, intellectual property and technology, complex litigation, real estate, environmental, energy and finance Michael Best & Friedrich: Tax Tips (2002 Year in Review)   Specifically, SMLLCs may raise unforeseen difficulties in various areas, including real and personal property tax exemption, sales and use taxes, ability to utilize tax-exempt bond financing, and the receipt of otherwise-deductible charitable contributions. Unclaimed Property -- What Is It And What Does It Mean For Your Business Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Riker Danzig: 4/01 Final Regulations on Allocating Asset Sale Purchas...   The IRS has now increased the number of categories to which the purchase price must be allocated to 7 categories, which are as follows: Class I: Cash and cash equivalents; Class II: Actively traded personal property, certificates of deposit, and foreign currency; Class III: Accounts receivable, mortgages, and credit card receivables arising in the ordinary course of business; Class IV: Stock in trade of the taxpayer or other property of a kind that would properly be included in inventory if on Riker Danzig: 3/98 Significant New York Tax Legislation Replaces Cu...   The tax is also imposed upon the estates of nonresidents, but only real and tangible personal property located within the State of New York are subject to taxation. Currently, the State of New York imposes a tax upon every transfer of property by gift (in excess of $10,000 per donee) by any resident Saul Ewing: Applicability of Pennsylvania Sales and Use Tax on Publ...   On the other hand, property transferred by a construction contractor to an exempt entity, even though a part of the contract work, that nevertheless remained "unattached" tangible personal property after installation, was treated as nontaxable. The example of property not "attached" often cited is a wall clock Saul Ewing: Applicability of Pennsylvania Sales and Use Tax on Publ...   On the other hand, property transferred by a construction contractor to an exempt entity, even though a part of the contract work, that nevertheless remained "unattached" tangible personal property after installation, was treated as nontaxable. The example of property not "attached" often cited is a wall clock Sidley Austin: Proposed Changes to the Deductiblility of Interest and ...   3 The Hedging Regulations provide that property that is part of a hedging transaction (i. e., property that reduces certain economic risks of the taxpayer), will not be treated as a capital asset, and gain or loss from its sale will produce ordinary income or loss as opposed to capital gain or loss Stoel Rives: Taxation on the Internet   Most states treat the sale of tangible personal property over the Internet the same as the sale of tangible personal property conducted through a mail order catalog. A sales tax is a tax imposed on every retailer for the privilege of making retail sales of tangible personal property within a state Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Ulmer & Berne: Ohio's Tax Amnesty Program   The taxes covered under the program are personal income tax, sales and use tax, corporate franchise tax, personal property tax, and public utility excise tax. Except for taxpayers with unreported personal property tax liabilities, taxpayers should file returns and remit payments for the tax liabilities plus one-half of the interest due, along with the appropriate tax amnesty form disclosing the previously unreported liabilities Ulmer & Berne: Certificates and Evidence of Insurance — Know What...   Such forms include the ACORD 24 ("Certificate of Property Insurance"), ACORD 25-S ("Certificate of Liability Insurance") and the ACORD 27 ("Evidence of Property Insurance"). In a recently reported Ohio appellate case, for example, a seller of a restaurant business and the building in which it was conducted retained a mortgage on the building and a security interest in the restaurant's personal property to secure the unpaid balance of the purchase price Ulmer & Berne: Cities Can Tax S Corporation Earnings   The capital gains that are not subject to municipal taxes will come from sale of intangible personal property such as stocks and bonds. Each shareholder will have the burden of differentiating his or her taxable S Corporation income from the non-taxable Ulmer & Berne: New Ohio Tax Obligations Of Pass-Through Entities   The 5% withholding tax is imposed only on trusts that distribute income or gain which is derived from (i) tangible personal property located in Ohio or (ii) real property located in Ohio. Thus, the 5% withholding tax does not appear to apply to trusts which hold only intangible property like stocks, securities or partnership interests Ulmer & Berne: Workers’ Compensation: A Checklist for Employers   If you employ domestic help, a nanny or even the services of an independent contractor, you should consider obtaining workers' compensation insurance for the possibility that an injury could occur on your personal property. Under Ohio law, you could be deemed a non-complying employer and therefore responsible for a dollar-for-dollar payment for all expenses arising out of the injury to your "employee." Coverage is available for a minimum premium of $10 a year Vandeventer Black: Securities held as TBE   In In re: Massey, Judge Stephen S. Mitchell, a bankruptcy judge in the Alexandria Division of the Eastern District of Virginia, took a fresh look at an old issue: Can personal property (specifically securities) be held as tenants by the entirety with right of survivorship ("TBE") in Virginia, to shelter the property from the claim of a creditor of only one spouse. The policy behind the protection of property held as TBE is that the married couple is like a separate entity, different from the Vandeventer Black: What Type Of Entity Is Right For Your Business? Part 1 ...   Personal Risk and Liability: Although flexible, one major downside of this approach is that you have unlimited personal liability for any lawsuits or damages that arise from accidents, unpaid bills, or other problems affecting your business. In other words, the winner of a lawsuit against a sole proprietor can not only collect money from the business but can also ask a court to force the owner to sell personal property, such as the owner's house, car, etc Venable: "The Difference between Nonprofit and Tax-Exempt S...   However, most associations that are tax-exempt do remain subject to a wide variety of other taxes, including federal payroll (Social Security, Medicare and unemployment) taxes, state and local unemployment taxes, real estate taxes, personal property taxes, sales and use taxes, franchise taxes, and taxes on lobbying activities, among others. Exemptions for certain state and local taxes are sometimes provided for certain types of philanthropic organizations, as well as certain colleges and Vorys: Tweaking economic incentive deals saves firms money   ...correctly, comprehensive incentive deals can provide infrastructure assistance, real property tax savings, personal property tax savings, corporate franchise tax savings, and perhaps sales and use tax savings. In addition, for a number of reasons, some school districts may even prefer to receive nontax donations instead of tax dollars Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Wiley Rein & Fielding: FCC Issues Reminder To Video Programming Distributors   Emergency information is information that helps to protect life, health, safety or property, and can include information about immediate weather situations such as tornadoes, hurricanes, floods, tidal waves, earthquakes, icing conditions, heavy snows, widespread fires, warnings and watches for impending changes in weather. It can also include information about other emergencies, such as the discharge of toxic gases, widespread power failures, industrial explosions and terrorist attacks, for Wiley Rein & Fielding: Is Your Website Accessible To The Disabled?   It further defines a "facility" as "all or any portion of buildings, structures, sites, complexes, equipment, rolling stock or other conveyances, roads, walks, passageways, parking lots, or other real or personal property." Id. Relying upon the Eleventh Circuit’s decisions in Rendon v. Valleycrest Prods Ciccorp   As to alleged conversion of the “takeaim.com” domain name, the court noted that Texas common law of conversion required the wrongful dominion and control over another’s personal property, and plaintiff failed to identify any authority extending liability for conversion to unlawful control over intangible property such as an Internet domain name Taxation Alert (April 23   Property Tax On Computers And Related Equipment ­ Administrative Oversight Might JeopardizePropertyTaxExemptionForComputers, According To City Of Madison Assessor. First effectivefortheJanuary1,1999assessment,Wisconsin exemptsfrompropertytaxationmainframecomputers, minicomputers,personalcomputers,networkedpersonal computers, servers, terminals, monitors, disk drives, electronic peripheral equipment, tape drives, printers, basicoperationalprograms,systemssoftware,prewritten ("canned") software Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Hotel/Motel Legal Update Volume 2   ...hen a buyer agrees to acquire an existing hotel, when a developer wants to build a new hotel or when an owner seeks to refinance the debt secured by his hotel property, one of the first issues that comes to mind is how the acquisition, development or refinancing will impact the hotel's "bottom line." Acquisitions, construction projects and refinancings all involve obtaining a loan, generally secured by the hotel's improvements, personal property and other business assets. What will be the "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 December 1   It has been reported on November 17, 2004, that the PRC’s Central Bank will relax some restrictions on the transfer of personal assets abroad, such as permitting emigrants to take their personal property, and heirs to take inheritance, out of the country. The measure is considered another step toward liberalizing the PRC’s currency restrictions Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid "Sales & Use Tax: Common Pitfalls   The sales tax is a tax imposed on the retail sale of most tangible personal property and certain enumerated services in a state. The use tax is a complementary tax to the sales tax, i.e., it is imposed on the use of most tangible personal property and certain enumerated services within a state on which the state, for some reason, cannot impose the sales tax (usually for constitutional nexus reasons) When The Going Gets Tough For Your Customers   A creditor also should obtain the personal guaranty of the customer's principal or other third parties, and security for the guaranty. This is an ancillary remedy to a pending state court action to recover possession of specific personal property Project Finance Update   The US collects toll charges whenever appreciated property is transferred offshore. A "straddle" is where a company has two offsetting positions in foreign currency, a commodity or similar property Bulletin 00-11   : IMMIGRATION ALERT: Recent News from DOS   ...visibility = "visible"; } } //-- PublicationHot TopicsPublicationsFirm Seminars3/6/1998 - Oil and Gas Liens and Foreclosures - A Multi-State Perspective AuthorsTerry I. CrossJason T. BarnesRelated Practice GroupsEnergy/PowerFinanceReal Estate Liens and Foreclosures CLE/Symposium Real Property Law Section Oklahoma Bar Association and The Oklahoma Law ReviewIntroductionThis article is an attempt to provide both a general overview of issues that arise in creating, perfecting and enforcing liens on : Third Quarter 1999   The lawyer's or other advisor's role includes both legal and business due diligence, probing the personality of the physician/client, mentoring and shaping critical judgments. Personal property (including items such as computer & medical equipment) - must the doctors payoff the bank liens to use the property : Health Law January/February 2000   Personal property (including items such as computer & medical equipment) - must the doctors payoff the bank liens to use the property. Patient medical files - whose property are the records Akin Gump: Texas Supreme Court Favorably Interprets Constitutional...   Specifically, they noted that to be valid, a home equity loan under 50(a)(6) must be made without personal recourse. If the cure provision only applied to the forfeiture remedy and did not validate the lien, then the lender would be left with an unsecured, no personal liability loan and no method for recovering any sums extended to the borrower Blank Rome: Limited Liability Company Doesn't Protect Its Prop...   Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy Search: Advanced Search Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy by HARRIS OMINSKY Harris Ominsky is a partner in the law firm of Blank Rome LLP. He is the author of a new book, "Real Estate Practice: Breaking New Ground," published by the Pennsylvania Bar Institute. A limited liability company protects its principal's property against creditors of the LLC. But according Dinsmore & Shohl: Ohio Adopts Revised Article 9 of the Uniform Commercial...   Where to File Financing Statement Revised Article 9 does away with the current "dual filing" system for financing statements for most personal property (i. e., not real property related) collateral Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Intel’s argument was based on a legal theory known as “trespass to chattels” (or trespass to personal property). Usually, liability for such a trespass occurs when the trespasser damages the personal property or deprives the owner of the use of the property for a time but does not steal the property Finnegan Henderson: Dorer v. Arel   In assessing whether a domain name was the type of property subject to a lien, the court disagreed with the Virginia Circuit Court’s reasoning in Umbro that domain-name registrations were personal property subject to liens. The court also reasoned that because the judgment debtor owned no trademark rights in the domain name, the registration entailed only contract rights; any value creating a property interest in the domain name had to be added by the lawful user, not the judgment debtor Gardner Carton: Critical Computer Assets May Be Exposed to Risk by Gaps...   Ingram's policy insured against "all risks of direct physical loss or damage from any cause, howsoever or wheresoever occurring" for "real and personal property." Upon denial of the claim, Ingram filed suit, arguing that its computers had suffered physical damage through their loss of use and functionality. The court agreed, finding that "physical damage" is "not restricted to the physical destruction or harm of computer circuitry but includes loss of access, loss of use, and loss of Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   The rules presume that such contracts include a 50% non-taxable service component and a 50% taxable tangible property component in the form of storage media for program upgrades or error corrections. Under the prior rule, payments for services provided under optional lump sum software maintenance contracts were not subject to sales tax, but any tangible property provided to the customer in connection with the performance of the contract typically was subject to sales tax Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   New 30% First-Year Special Depreciation DeductionFor qualified property acquired after September 10, 2001, and before September 11, 2004, a taxpayer may make an additional first-year depreciation deduction equal to 30 percent of the adjusted basis of such qualified property. The additional deduction is allowed for both regular tax and alternative minimum tax purposes for the taxable year in which the property is placed in service Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   5 Summary of California Law California Revenue and Taxation Code Section 6203 imposes a collection obligation on any retailer engaged in business in the state that makes sales of tangible personal property for storage, use, or other consumption in the state. Any retailer having any representative, agent, salesperson, canvasser, independent contractor, or solicitor operating in this state under the authority of the retailer or its subsidiary for the purpose of selling, delivering, installing, Gray Cary: Intangible Property May be Subject to California Sales ...   "2 Transferring tangible property, such as paper or a disk, in connection with transferring intangible property, may cause the intangible property to be taxable. This may be the case even though the vast majority of the sales price represents payment for either the value of the content, or the value of the services that produced the content, with the tangible property being merely a convenient way of transferring the content.3 The entire sales price is taxable unless an exemption applies, such Gray Cary: Sales Tax Treatment of Equipment Bundled with Telecommu...   Significant sales and use tax issues associated with the bundling of services and equipment typically arise in those states that impose sales tax on the sale of tangible personal property but do not impose sales tax on the provision of telecommunications services. If the true object of the contract is the receipt of service, the transaction is not subject to sales tax even though the seller incidentally transfers tangible personal property to the buyer Gray Cary: Sales and Use Tax Nexus Issues: A Practical Guide for E...   Overview of Sales and Use Tax Rules Most states impose a sales tax on retail sales of property or services that occur within the state. In California, for instance, the sales tax is imposed for "the privilege of selling tangible personal property at retail...upon all retailers" for sales that occur in California Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Honigman Miller: Michigan's Single Business Tax Brownfield Credit (a...   Under SBT Act 38g(33)(k), a "project" is the total of all eligible investment of an eligible property. Pursuant to SBT Act 38g(33)(m), a "qualified taxpayer" is a taxpayer that owns or leases eligible property and certifies that the Michigan Department of Environmental Quality has not sued or issued a unilateral order to the taxpayer to compel response activity on or to the eligible property, or has expended any state funds for response activity on or to the eligible property and demanded McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McGuire Woods: CHARITABLE GIVING AND TAX-EXEMPT ORGANIZATIONS HANDBOOK   Table of Contents Overview of Tax Rules Reporting Requirements Methods of Giving and Tax Consequences Outright Lifetime Gifts Partial Interest Gifts Bargain Sales Bequests Charitable Remainder Trusts Pooled Income Funds Charitable Gift Annuities Remainder Interests in Personal Residences and Farms Charitable Lead Trusts When The Gift Is Complete Special Assets and Techniques Overview Of Tax Rules Applicable Internal Revenue Code Sections Section 170-Income tax charitable deduction rules and McGuire Woods: AN INTRODUCTION TO ESTATE PLANNING   Estate planning assures that your property passes to others precisely as you direct, and as efficiently as possible. And it selects someone to carry out your wishes-called your "executor" or "personal representative." It may also recommend someone to care for your minor children if they are orphaned McKenna Long & Aldridge: Contracting with the Federal Government   GSA's Federal Supply Service provides federal customers with the products, services, and programs to meet their supply, service, procurement, vehicle purchasing and leasing, travel and transportation, and personal property management requirements. The firm provides business solutions in the areas of government contracts, public policy and regulatory affairs, corporate law, intellectual property and technology, complex litigation, real estate, environmental, energy and finance Michael Best & Friedrich: Tax Tips (2002 Year in Review)   Specifically, SMLLCs may raise unforeseen difficulties in various areas, including real and personal property tax exemption, sales and use taxes, ability to utilize tax-exempt bond financing, and the receipt of otherwise-deductible charitable contributions. Unclaimed Property -- What Is It And What Does It Mean For Your Business Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Sidley Austin: Tax Alert - The American Jobs Creation Act of 2004 - Pr...   A "straddle" generally means offsetting positions with respect to actively traded personal property. Positions are offsetting if there is a substantial diminution in the risk of loss from holding one position by reason of holding one or more other positions in personal property Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Vandeventer Black: What Type Of Entity Is Right For Your Business? Part 1 ...   Personal Risk and Liability: Although flexible, one major downside of this approach is that you have unlimited personal liability for any lawsuits or damages that arise from accidents, unpaid bills, or other problems affecting your business. In other words, the winner of a lawsuit against a sole proprietor can not only collect money from the business but can also ask a court to force the owner to sell personal property, such as the owner's house, car, etc Venable: "The Difference between Nonprofit and Tax-Exempt S...   However, most associations that are tax-exempt do remain subject to a wide variety of other taxes, including federal payroll (Social Security, Medicare and unemployment) taxes, state and local unemployment taxes, real estate taxes, personal property taxes, sales and use taxes, franchise taxes, and taxes on lobbying activities, among others. Exemptions for certain state and local taxes are sometimes provided for certain types of philanthropic organizations, as well as certain colleges and Vorys: Tweaking economic incentive deals saves firms money   ...correctly, comprehensive incentive deals can provide infrastructure assistance, real property tax savings, personal property tax savings, corporate franchise tax savings, and perhaps sales and use tax savings. In addition, for a number of reasons, some school districts may even prefer to receive nontax donations instead of tax dollars Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Weil: Preexisting Security Interest Preserved Under Confirmed...   Article 9 of the Uniform Commercial Code ( UCC ), which has been adopted in all fifty states, governs the creation, perfection, priority, and enforcement of security interests in personal property. As a general rule, a party with a security interest in most forms of personal property must file a financing statement identifying its collateral in the appropriate jurisdiction in order to perfect its security interest Wyatt: The Application of Sales Tax to the Internet: A Tennes...   The Tennessee sales tax is a tax on retail sales of tangible personal property and certain taxable services, including "intrastate and interstate telecommunications services." Eventhough the seller of these goods and services is allowed to pass the taxalong to its customers as a separate charge, the seller is the taxpayer who must file tax returns and remit the sales taxes to the Tennessee Department of Revenue. In addition, the states are absolutelyprohibited from imposing sales taxes on Ciccorp   As to alleged conversion of the “takeaim.com” domain name, the court noted that Texas common law of conversion required the wrongful dominion and control over another’s personal property, and plaintiff failed to identify any authority extending liability for conversion to unlawful control over intangible property such as an Internet domain name Taxation Alert (April 23   Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Hotel/Motel Legal Update Volume 2   ...hen a buyer agrees to acquire an existing hotel, when a developer wants to build a new hotel or when an owner seeks to refinance the debt secured by his hotel property, one of the first issues that comes to mind is how the acquisition, development or refinancing will impact the hotel's "bottom line." Acquisitions, construction projects and refinancings all involve obtaining a loan, generally secured by the hotel's improvements, personal property and other business assets. What will be the December 1   It has been reported on November 17, 2004, that the PRC’s Central Bank will relax some restrictions on the transfer of personal assets abroad, such as permitting emigrants to take their personal property, and heirs to take inheritance, out of the country. The measure is considered another step toward liberalizing the PRC’s currency restrictions "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid February 2005  Vol. VI   If a contract is for the sale of tangible personal property (materials), the contractor is exempt from sales and use tax by virtue of the "sale for resale" exemption. If, however, the contract is for the provision of services, the contractor is taxed on all tangible personal property used in performing those services even if title to the property passes to the government "Sales & Use Tax: Common Pitfalls   The sales tax is a tax imposed on the retail sale of most tangible personal property and certain enumerated services in a state. The use tax is a complementary tax to the sales tax, i.e., it is imposed on the use of most tangible personal property and certain enumerated services within a state on which the state, for some reason, cannot impose the sales tax (usually for constitutional nexus reasons) When The Going Gets Tough For Your Customers   A creditor also should obtain the personal guaranty of the customer's principal or other third parties, and security for the guaranty. This is an ancillary remedy to a pending state court action to recover possession of specific personal property Project Finance Update   The US collects toll charges whenever appreciated property is transferred offshore. A "straddle" is where a company has two offsetting positions in foreign currency, a commodity or similar property : IMMIGRATION ALERT: Recent News from DOS   ...visibility = "visible"; } } //-- PublicationHot TopicsPublicationsFirm Seminars3/6/1998 - Oil and Gas Liens and Foreclosures - A Multi-State Perspective AuthorsTerry I. CrossJason T. BarnesRelated Practice GroupsEnergy/PowerFinanceReal Estate Liens and Foreclosures CLE/Symposium Real Property Law Section Oklahoma Bar Association and The Oklahoma Law ReviewIntroductionThis article is an attempt to provide both a general overview of issues that arise in creating, perfecting and enforcing liens on Akin Gump: Texas Supreme Court Favorably Interprets Constitutional...   Specifically, they noted that to be valid, a home equity loan under 50(a)(6) must be made without personal recourse. If the cure provision only applied to the forfeiture remedy and did not validate the lien, then the lender would be left with an unsecured, no personal liability loan and no method for recovering any sums extended to the borrower Blank Rome: Owners Of Self-Storage Facilities Must Pay Philadelphia...   That tax was passed by the City of Philadelphia by enabling legislation known as the "Tax Anything Act" which authorizes City Council to levy such taxes within the city as it may determine, except for any "privilege, transaction, subject or occupation or on personal property which is now or may hereafter become subject to a State tax or license fee . . . " Based on this statutory authority, the City of Philadelphia has imposed the applicable tax for general school purposes on the use or Blank Rome: Limited Liability Company Doesn't Protect Its Prop...   Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy Search: Advanced Search Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy by HARRIS OMINSKY Harris Ominsky is a partner in the law firm of Blank Rome LLP. He is the author of a new book, "Real Estate Practice: Breaking New Ground," published by the Pennsylvania Bar Institute. A limited liability company protects its principal's property against creditors of the LLC. But according Curtis Mallet-Prevost: U.K. Trade Marks Act 1994   The 1994 Act treats registered trademarks as personal property. As such, they may be dealt with in the same manner as other intellectual property, and may be sold, assigned (in writing) and, pursuant to Section 28, their use may be licensed to third parties (again in writing) Curtis Mallet-Prevost: The New Regime for Transmission and Distribution of Nat...   The Decree provides that the construction of pipelines is of public utility (Article 10 of the Petroleum Act), which means that land and personal property may be expropriated by the Federal Government to carry out pipeline construction. Under the Expropriation Law, the Mexican Government has wide powers to impose limitations on private property, including expropriation, so long as there exists a "public purpose" (utilidad pública) and compensation is granted to the affected party, either by the Dinsmore & Shohl: Ohio Adopts Revised Article 9 of the Uniform Commercial...   Where to File Financing Statement Revised Article 9 does away with the current "dual filing" system for financing statements for most personal property (i. e., not real property related) collateral Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Intel’s argument was based on a legal theory known as “trespass to chattels” (or trespass to personal property). Usually, liability for such a trespass occurs when the trespasser damages the personal property or deprives the owner of the use of the property for a time but does not steal the property Finnegan Henderson: Dorer v. Arel   In assessing whether a domain name was the type of property subject to a lien, the court disagreed with the Virginia Circuit Court’s reasoning in Umbro that domain-name registrations were personal property subject to liens. The court also reasoned that because the judgment debtor owned no trademark rights in the domain name, the registration entailed only contract rights; any value creating a property interest in the domain name had to be added by the lawful user, not the judgment debtor Fox Rothschild: Alert Archives   Gardner Carton: Critical Computer Assets May Be Exposed to Risk by Gaps...   Ingram's policy insured against "all risks of direct physical loss or damage from any cause, howsoever or wheresoever occurring" for "real and personal property." Upon denial of the claim, Ingram filed suit, arguing that its computers had suffered physical damage through their loss of use and functionality. The court agreed, finding that "physical damage" is "not restricted to the physical destruction or harm of computer circuitry but includes loss of access, loss of use, and loss of Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   Gray Cary: Intangible Property May be Subject to California Sales ...   Gray Cary: Sales Tax Treatment of Equipment Bundled with Telecommu...   Gray Cary: Sales and Use Tax Nexus Issues: A Practical Guide for E...   Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Honigman Miller: Michigan's Single Business Tax Brownfield Credit (a...   Under SBT Act 38g(33)(k), a "project" is the total of all eligible investment of an eligible property. Pursuant to SBT Act 38g(33)(m), a "qualified taxpayer" is a taxpayer that owns or leases eligible property and certifies that the Michigan Department of Environmental Quality has not sued or issued a unilateral order to the taxpayer to compel response activity on or to the eligible property, or has expended any state funds for response activity on or to the eligible property and demanded McGlinchey Stafford: Within the Firm (McGlinchey news)   McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McGuire Woods: CHARITABLE GIVING AND TAX-EXEMPT ORGANIZATIONS HANDBOOK   Table of Contents Overview of Tax Rules Reporting Requirements Methods of Giving and Tax Consequences Outright Lifetime Gifts Partial Interest Gifts Bargain Sales Bequests Charitable Remainder Trusts Pooled Income Funds Charitable Gift Annuities Remainder Interests in Personal Residences and Farms Charitable Lead Trusts When The Gift Is Complete Special Assets and Techniques Overview Of Tax Rules Applicable Internal Revenue Code Sections Section 170-Income tax charitable deduction rules and McKenna Long & Aldridge: Contracting with the Federal Government   GSA's Federal Supply Service provides federal customers with the products, services, and programs to meet their supply, service, procurement, vehicle purchasing and leasing, travel and transportation, and personal property management requirements. The firm provides business solutions in the areas of government contracts, public policy and regulatory affairs, corporate law, intellectual property and technology, complex litigation, real estate, environmental, energy and finance Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   ...htmlIntroduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   ...htmlIntroduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   ...htmlIntroduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   ...htmlIntroduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Sidley Austin: Tax Alert - The American Jobs Creation Act of 2004 - Pr...   A "straddle" generally means offsetting positions with respect to actively traded personal property. Positions are offsetting if there is a substantial diminution in the risk of loss from holding one position by reason of holding one or more other positions in personal property Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Vandeventer Black: Securities held as TBE   In In re: Massey, Judge Stephen S. Mitchell, a bankruptcy judge in the Alexandria Division of the Eastern District of Virginia, took a fresh look at an old issue: Can personal property (specifically securities) be held as tenants by the entirety with right of survivorship ("TBE") in Virginia, to shelter the property from the claim of a creditor of only one spouse. The policy behind the protection of property held as TBE is that the married couple is like a separate entity, different from the Vandeventer Black: What Type Of Entity Is Right For Your Business? Part 1 ...   Personal Risk and Liability: Although flexible, one major downside of this approach is that you have unlimited personal liability for any lawsuits or damages that arise from accidents, unpaid bills, or other problems affecting your business. In other words, the winner of a lawsuit against a sole proprietor can not only collect money from the business but can also ask a court to force the owner to sell personal property, such as the owner's house, car, etc Vandeventer Black: Job Creation and Worker Assistance Act   Section 101 of the Act provides for a special depreciation allowance for certain non-real estate property acquired after September 10, 2001 and before September 11, 2004. The Act amends the Internal Revenue Code to provide for a depreciation deduction beyond the original depreciation deductions for qualified property of 30% of the adjusted basis of the qualified property in the first year Vandeventer Black: Parent Corporation Liability Under OPA?   The term Aresponsible party," in the case of vessels, is defined as any person owning, operating or demise chartering the vessel. Responsible parties are liable under OPA for removal costs and damages (natural resources, real or personal property, subsistence use revenues, profits and earning capacity and public services). Heretofore it had been assumed that unless there were established grounds to pierce the corporate veil a parent corporation could not be held responsible for discharge where a Venable: "The Difference between Nonprofit and Tax-Exempt S...   However, most associations that are tax-exempt do remain subject to a wide variety of other taxes, including federal payroll (Social Security, Medicare and unemployment) taxes, state and local unemployment taxes, real estate taxes, personal property taxes, sales and use taxes, franchise taxes, and taxes on lobbying activities, among others. Exemptions for certain state and local taxes are sometimes provided for certain types of philanthropic organizations, as well as certain colleges and Vorys: Tweaking economic incentive deals saves firms money   ...correctly, comprehensive incentive deals can provide infrastructure assistance, real property tax savings, personal property tax savings, corporate franchise tax savings, and perhaps sales and use tax savings. In addition, for a number of reasons, some school districts may even prefer to receive nontax donations instead of tax dollars Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Pollution Control Tax Benefits   These facilities are exempt from sales and use taxes, real and personal property taxes and the corporate franchise tax. For example, a pollution control facility worth $25 million may attain a one-time tax benefit of $125,000 and annual tax savings of $48,500 Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Weil: Preexisting Security Interest Preserved Under Confirmed...   Article 9 of the Uniform Commercial Code ( UCC ), which has been adopted in all fifty states, governs the creation, perfection, priority, and enforcement of security interests in personal property. As a general rule, a party with a security interest in most forms of personal property must file a financing statement identifying its collateral in the appropriate jurisdiction in order to perfect its security interest Wyatt: The Application of Sales Tax to the Internet: A Tennes...   The Tennessee sales tax is a tax on retail sales of tangible personal property and certain taxable services, including "intrastate and interstate telecommunications services." Eventhough the seller of these goods and services is allowed to pass the taxalong to its customers as a separate charge, the seller is the taxpayer who must file tax returns and remit the sales taxes to the Tennessee Department of Revenue. In addition, the states are absolutelyprohibited from imposing sales taxes on Taxation Alert (April 23   Intel Corporation v. Hamidi (June 30   In its lawsuit, Intel relied on rules of property law in arguing that Hamidi illegally trespassed onto its "chattel", or personal property, (i. e., the computer system) by sending about six emails to 30,000 current employees Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Lease Termination Agreements: Get Out Quickly   Hotel/Motel Legal Update Volume 2   ...hen a buyer agrees to acquire an existing hotel, when a developer wants to build a new hotel or when an owner seeks to refinance the debt secured by his hotel property, one of the first issues that comes to mind is how the acquisition, development or refinancing will impact the hotel's "bottom line." Acquisitions, construction projects and refinancings all involve obtaining a loan, generally secured by the hotel's improvements, personal property and other business assets. What will be the China Law & Policy Digest - March 11   Corporate Governance Issuance of RMB-denominated bonds investment projects funded by foreign governments and organizations Establishment of accounting firms Trade barrier investigations Outbound personal property Conduct of directors of listed SMEs. Administrative Measures on Remittance of Foreign Exchange Relating to Outbound Personal Property December 1   It has been reported on November 17, 2004, that the PRC’s Central Bank will relax some restrictions on the transfer of personal assets abroad, such as permitting emigrants to take their personal property, and heirs to take inheritance, out of the country. The measure is considered another step toward liberalizing the PRC’s currency restrictions "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid China Law & Policy Digest - February 25   Notice Regarding Submission of Tax Clearance Certificate or Tax Completion Certificate for Outbound Personal Property Overseas. This notice follows the Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers issued in November 2004 February 2005  Vol. VI   If a contract is for the sale of tangible personal property (materials), the contractor is exempt from sales and use tax by virtue of the "sale for resale" exemption. If, however, the contract is for the provision of services, the contractor is taxed on all tangible personal property used in performing those services even if title to the property passes to the government China Law & Policy Digest - November 27   Overseas Investment Employee protection Construction project management companies regulated Overseas transfers of property and funds by emigrants Establishment of TV and broadcasting companies Land quotas for construction Transfer pricing Periodic Stamp Duty payments Reporting requirements for PRC entities investing overseas. Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers : IMMIGRATION ALERT: Recent News from DOS   ...visibility = "visible"; } } //-- --- PublicationHot TopicsPublicationsFirm Seminars3/6/1998 - Oil and Gas Liens and Foreclosures - A Multi-State Perspective AuthorsTerry I. CrossJason T. BarnesRelated Practice GroupsEnergy/PowerFinanceReal Estate Liens and Foreclosures CLE/Symposium Real Property Law Section Oklahoma Bar Association and The Oklahoma Law ReviewIntroductionThis article is an attempt to provide both a general overview of issues that arise in creating, perfecting and enforcing liens : Third Quarter 1999   The lawyer's or other advisor's role includes both legal and business due diligence, probing the personality of the physician/client, mentoring and shaping critical judgments. Personal property (including items such as computer al equipment) - must the doctors payoff the bank liens to use the property Akin Gump: Texas Supreme Court Favorably Interprets Constitutional...   Specifically, they noted that to be valid, a home equity loan under 50(a)(6) must be made without personal recourse. If the cure provision only applied to the forfeiture remedy and did not validate the lien, then the lender would be left with an unsecured, no personal liability loan and no method for recovering any sums extended to the borrower Blank Rome: Owners Of Self-Storage Facilities Must Pay Philadelphia...   That tax was passed by the City of Philadelphia by enabling legislation known as the "Tax Anything Act" which authorizes City Council to levy such taxes within the city as it may determine, except for any "privilege, transaction, subject or occupation or on personal property which is now or may hereafter become subject to a State tax or license fee . . . " Based on this statutory authority, the City of Philadelphia has imposed the applicable tax for general school purposes on the use or Blank Rome: Limited Liability Company Doesn't Protect Its Prop...   Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy Search: Advanced Search Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy by HARRIS OMINSKY Harris Ominsky is a partner in the law firm of Blank Rome LLP. He is the author of a new book, "Real Estate Practice: Breaking New Ground," published by the Pennsylvania Bar Institute. A limited liability company protects its principal's property against creditors of the LLC. But according Cooley Godward: Court Clears Way for Sale of Unabomber's Writings   The Ninth U.S. Circuit Court of Appeals rejected prosecutors’ claim that 22,000 pages of writings and other personal property seized from Kaczynski’s Montana cabin when he was arrested in 1996 have no value and should remain in a government evidence locker. John Balazs, Kaczynski’s court-appointed lawyer, said he was pleased that the court had denied the government’s attempt to keep the property Curtis Mallet-Prevost: U.K. Trade Marks Act 1994   The 1994 Act treats registered trademarks as personal property. As such, they may be dealt with in the same manner as other intellectual property, and may be sold, assigned (in writing) and, pursuant to Section 28, their use may be licensed to third parties (again in writing) Curtis Mallet-Prevost: The New Regime for Transmission and Distribution of Nat...   The Decree provides that the construction of pipelines is of public utility (Article 10 of the Petroleum Act), which means that land and personal property may be expropriated by the Federal Government to carry out pipeline construction. Under the Expropriation Law, the Mexican Government has wide powers to impose limitations on private property, including expropriation, so long as there exists a "public purpose" (utilidad pública) and compensation is granted to the affected party, either by the Dinsmore & Shohl: Ohio Adopts Revised Article 9 of the Uniform Commercial...   Where to File Financing Statement Revised Article 9 does away with the current "dual filing" system for financing statements for most personal property (i. e., not real property related) collateral Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Intel’s argument was based on a legal theory known as “trespass to chattels” (or trespass to personal property). Usually, liability for such a trespass occurs when the trespasser damages the personal property or deprives the owner of the use of the property for a time but does not steal the property Fox Rothschild: Alert Archives   Gardner Carton: Critical Computer Assets May Be Exposed to Risk by Gaps...   Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   Gray Cary: Intangible Property May be Subject to California Sales ...   Gray Cary: Sales Tax Treatment of Equipment Bundled with Telecommu...   Gray Cary: Sales and Use Tax Nexus Issues: A Practical Guide for E...   Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Honigman Miller: Michigan's Single Business Tax Brownfield Credit (a...   Under SBT Act 38g(33)(k), a "project" is the total of all eligible investment of an eligible property. Pursuant to SBT Act 38g(33)(m), a "qualified taxpayer" is a taxpayer that owns or leases eligible property and certifies that the Michigan Department of Environmental Quality has not sued or issued a unilateral order to the taxpayer to compel response activity on or to the eligible property, or has expended any state funds for response activity on or to the eligible property and demanded McGlinchey Stafford: Within the Firm (McGlinchey news)   McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McKenna Long & Aldridge: Contracting with the Federal Government   GSA's Federal Supply Service provides federal customers with the products, services, and programs to meet their supply, service, procurement, vehicle purchasing and leasing, travel and transportation, and personal property management requirements. The firm provides business solutions in the areas of government contracts, public policy and regulatory affairs, corporate law, intellectual property and technology, complex litigation, real estate, environmental, energy and finance Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Sidley Austin: Proposed Changes to the Deductiblility of Interest and ...   3 The Hedging Regulations provide that property that is part of a hedging transaction (i. e., property that reduces certain economic risks of the taxpayer), will not be treated as a capital asset, and gain or loss from its sale will produce ordinary income or loss as opposed to capital gain or loss Sidley Austin: Tax Alert - The American Jobs Creation Act of 2004 - Pr...   A "straddle" generally means offsetting positions with respect to actively traded personal property. Positions are offsetting if there is a substantial diminution in the risk of loss from holding one position by reason of holding one or more other positions in personal property Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Vandeventer Black: Securities held as TBE   In In re: Massey, Judge Stephen S. Mitchell, a bankruptcy judge in the Alexandria Division of the Eastern District of Virginia, took a fresh look at an old issue: Can personal property (specifically securities) be held as tenants by the entirety with right of survivorship ("TBE") in Virginia, to shelter the property from the claim of a creditor of only one spouse. The policy behind the protection of property held as TBE is that the married couple is like a separate entity, different from the Vandeventer Black: What Type Of Entity Is Right For Your Business? Part 1 ...   Personal Risk and Liability: Although flexible, one major downside of this approach is that you have unlimited personal liability for any lawsuits or damages that arise from accidents, unpaid bills, or other problems affecting your business. In other words, the winner of a lawsuit against a sole proprietor can not only collect money from the business but can also ask a court to force the owner to sell personal property, such as the owner's house, car, etc Vandeventer Black: Job Creation and Worker Assistance Act   Section 101 of the Act provides for a special depreciation allowance for certain non-real estate property acquired after September 10, 2001 and before September 11, 2004. The Act amends the Internal Revenue Code to provide for a depreciation deduction beyond the original depreciation deductions for qualified property of 30% of the adjusted basis of the qualified property in the first year Vandeventer Black: Parent Corporation Liability Under OPA?   The term Aresponsible party," in the case of vessels, is defined as any person owning, operating or demise chartering the vessel. Responsible parties are liable under OPA for removal costs and damages (natural resources, real or personal property, subsistence use revenues, profits and earning capacity and public services). Heretofore it had been assumed that unless there were established grounds to pierce the corporate veil a parent corporation could not be held responsible for discharge where a Vorys: Tweaking economic incentive deals saves firms money   ...correctly, comprehensive incentive deals can provide infrastructure assistance, real property tax savings, personal property tax savings, corporate franchise tax savings, and perhaps sales and use tax savings. In addition, for a number of reasons, some school districts may even prefer to receive nontax donations instead of tax dollars Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Protecting Interests in Real Estate Related Collateral ...   Generally speaking, Article 9 applies only to personal property collateral (i. Like former Article 9, Revised Article 9 treats oil, gas, and other minerals before extraction as real property not subject to its control Vorys Sater: Pollution Control Tax Benefits   She focuses her practice on personal and estate planning, as well as business transition planning. (Continued Vorys Sater: Pollution Control Tax Benefits   She focuses her practice on personal and estate planning, as well as business transition planning. (Continued Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Vorys Sater: Incentive Programs by J. Thomas Mason and Scott J. Zian...   ...g., streets and utilities), real and tangible personal property tax abatements, new jobs tax credits and low interest loans or grants to cover the cost of infrastructure improvements. They may also grant tax credits to defray employee acquisition and training costs Weil: Preexisting Security Interest Preserved Under Confirmed...   Article 9 of the Uniform Commercial Code ( UCC ), which has been adopted in all fifty states, governs the creation, perfection, priority, and enforcement of security interests in personal property. As a general rule, a party with a security interest in most forms of personal property must file a financing statement identifying its collateral in the appropriate jurisdiction in order to perfect its security interest Taxation Alert (April 23   Intel Corporation v. Hamidi (June 30   In its lawsuit, Intel relied on rules of property law in arguing that Hamidi illegally trespassed onto its "chattel", or personal property, (i. e., the computer system) by sending about six emails to 30,000 current employees Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Lease Termination Agreements: Get Out Quickly   Hotel/Motel Legal Update Volume 2   ...hen a buyer agrees to acquire an existing hotel, when a developer wants to build a new hotel or when an owner seeks to refinance the debt secured by his hotel property, one of the first issues that comes to mind is how the acquisition, development or refinancing will impact the hotel's "bottom line." Acquisitions, construction projects and refinancings all involve obtaining a loan, generally secured by the hotel's improvements, personal property and other business assets. What will be the China Law & Policy Digest - March 11   Corporate Governance Issuance of RMB-denominated bonds investment projects funded by foreign governments and organizations Establishment of accounting firms Trade barrier investigations Outbound personal property Conduct of directors of listed SMEs. Administrative Measures on Remittance of Foreign Exchange Relating to Outbound Personal Property December 1   It has been reported on November 17, 2004, that the PRC’s Central Bank will relax some restrictions on the transfer of personal assets abroad, such as permitting emigrants to take their personal property, and heirs to take inheritance, out of the country. The measure is considered another step toward liberalizing the PRC’s currency restrictions "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid China Law & Policy Digest - February 25   Notice Regarding Submission of Tax Clearance Certificate or Tax Completion Certificate for Outbound Personal Property Overseas. This notice follows the Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers issued in November 2004 February 2005  Vol. VI   If a contract is for the sale of tangible personal property (materials), the contractor is exempt from sales and use tax by virtue of the "sale for resale" exemption. If, however, the contract is for the provision of services, the contractor is taxed on all tangible personal property used in performing those services even if title to the property passes to the government China Law & Policy Digest - November 27   Overseas Investment Employee protection Construction project management companies regulated Overseas transfers of property and funds by emigrants Establishment of TV and broadcasting companies Land quotas for construction Transfer pricing Periodic Stamp Duty payments Reporting requirements for PRC entities investing overseas. Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers China Law & Policy Digest - January 31   : IMMIGRATION ALERT: Recent News from DOS   A package of producing oil and gas properties and a chain of hotels both include significant real estate assets and virtually every category of personal property recognized by the U.C.C., and all of the asset categories must be addressed in the collateral documents. However, there are issues that arise in oil and gas lending that are absolutely unique to this area Akin Gump: Texas Supreme Court Favorably Interprets Constitutional...   Specifically, they noted that to be valid, a home equity loan under 50(a)(6) must be made without personal recourse. If the cure provision only applied to the forfeiture remedy and did not validate the lien, then the lender would be left with an unsecured, no personal liability loan and no method for recovering any sums extended to the borrower Ballard Spahr: Pennsylvania Sales Tax Is Due On Downloaded Software   In reaching its decision, the court surprisingly determined that canned computer software falls within the statutory definition of “corporeal” or tangible personal property. The court reasoned that canned computer software, once installed, is stored on a computer hard drive, can be physically perceived by checking the computer’s files, and remains in the computer to operate the program each time it is used by the consumer Blank Rome: Owners Of Self-Storage Facilities Must Pay Philadelphia...   That tax was passed by the City of Philadelphia by enabling legislation known as the "Tax Anything Act" which authorizes City Council to levy such taxes within the city as it may determine, except for any "privilege, transaction, subject or occupation or on personal property which is now or may hereafter become subject to a State tax or license fee . . . " Based on this statutory authority, the City of Philadelphia has imposed the applicable tax for general school purposes on the use or Blank Rome: Limited Liability Company Doesn't Protect Its Prop...   Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy Search: Advanced Search Limited Liability Company Doesn't Protect Its Property Against Member's Bankruptcy by HARRIS OMINSKY Harris Ominsky is a partner in the law firm of Blank Rome LLP. He is the author of a new book, "Real Estate Practice: Breaking New Ground," published by the Pennsylvania Bar Institute. A limited liability company protects its principal's property against creditors of the LLC. But according Cooley Godward: Court Clears Way for Sale of Unabomber's Writings   The Ninth U.S. Circuit Court of Appeals rejected prosecutors’ claim that 22,000 pages of writings and other personal property seized from Kaczynski’s Montana cabin when he was arrested in 1996 have no value and should remain in a government evidence locker. John Balazs, Kaczynski’s court-appointed lawyer, said he was pleased that the court had denied the government’s attempt to keep the property Curtis Mallet-Prevost: U.K. Trade Marks Act 1994   The 1994 Act treats registered trademarks as personal property. As such, they may be dealt with in the same manner as other intellectual property, and may be sold, assigned (in writing) and, pursuant to Section 28, their use may be licensed to third parties (again in writing) Curtis Mallet-Prevost: The New Regime for Transmission and Distribution of Nat...   The Decree provides that the construction of pipelines is of public utility (Article 10 of the Petroleum Act), which means that land and personal property may be expropriated by the Federal Government to carry out pipeline construction. Under the Expropriation Law, the Mexican Government has wide powers to impose limitations on private property, including expropriation, so long as there exists a "public purpose" (utilidad pública) and compensation is granted to the affected party, either by the Dinsmore & Shohl: Ohio Adopts Revised Article 9 of the Uniform Commercial...   Where to File Financing Statement Revised Article 9 does away with the current "dual filing" system for financing statements for most personal property (i. e., not real property related) collateral Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Intel’s argument was based on a legal theory known as “trespass to chattels” (or trespass to personal property). Usually, liability for such a trespass occurs when the trespasser damages the personal property or deprives the owner of the use of the property for a time but does not steal the property Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   Gray Cary: Intangible Property May be Subject to California Sales ...   Gray Cary: Sales Tax Treatment of Equipment Bundled with Telecommu...   Gray Cary: Sales and Use Tax Nexus Issues: A Practical Guide for E...   Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Honigman Miller: Michigan's Single Business Tax Brownfield Credit (a...   Under SBT Act 38g(33)(k), a "project" is the total of all eligible investment of an eligible property. Pursuant to SBT Act 38g(33)(m), a "qualified taxpayer" is a taxpayer that owns or leases eligible property and certifies that the Michigan Department of Environmental Quality has not sued or issued a unilateral order to the taxpayer to compel response activity on or to the eligible property, or has expended any state funds for response activity on or to the eligible property and demanded McGlinchey Stafford: Within the Firm (McGlinchey news)   McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McKenna Long & Aldridge: Contracting with the Federal Government   Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Sidley Austin: Proposed Changes to the Deductiblility of Interest and ...   3 The Hedging Regulations provide that property that is part of a hedging transaction (i. e., property that reduces certain economic risks of the taxpayer), will not be treated as a capital asset, and gain or loss from its sale will produce ordinary income or loss as opposed to capital gain or loss Sidley Austin: Tax Alert - The American Jobs Creation Act of 2004 - Pr...   A "straddle" generally means offsetting positions with respect to actively traded personal property. Positions are offsetting if there is a substantial diminution in the risk of loss from holding one position by reason of holding one or more other positions in personal property Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Vandeventer Black: Securities held as TBE   In In re: Massey, Judge Stephen S. Mitchell, a bankruptcy judge in the Alexandria Division of the Eastern District of Virginia, took a fresh look at an old issue: Can personal property (specifically securities) be held as tenants by the entirety with right of survivorship ("TBE") in Virginia, to shelter the property from the claim of a creditor of only one spouse. The policy behind the protection of property held as TBE is that the married couple is like a separate entity, different from the Vandeventer Black: What Type Of Entity Is Right For Your Business? Part 1 ...   Personal Risk and Liability: Although flexible, one major downside of this approach is that you have unlimited personal liability for any lawsuits or damages that arise from accidents, unpaid bills, or other problems affecting your business. In other words, the winner of a lawsuit against a sole proprietor can not only collect money from the business but can also ask a court to force the owner to sell personal property, such as the owner's house, car, etc Vandeventer Black: Job Creation and Worker Assistance Act   Section 101 of the Act provides for a special depreciation allowance for certain non-real estate property acquired after September 10, 2001 and before September 11, 2004. The Act amends the Internal Revenue Code to provide for a depreciation deduction beyond the original depreciation deductions for qualified property of 30% of the adjusted basis of the qualified property in the first year Vandeventer Black: Parent Corporation Liability Under OPA?   The term Aresponsible party," in the case of vessels, is defined as any person owning, operating or demise chartering the vessel. Responsible parties are liable under OPA for removal costs and damages (natural resources, real or personal property, subsistence use revenues, profits and earning capacity and public services). Heretofore it had been assumed that unless there were established grounds to pierce the corporate veil a parent corporation could not be held responsible for discharge where a Vorys Sater: New Rules - How the new commercial activity tax affects...   A personal property tax was in place that acted as a deterrent for business investment in Ohio. For example, if you were a business owner who spent a large sum of money on equipment to create new jobs in Ohio, you would be heavily taxed on the equipment under the personal property tax Taxation Alert (April 23   Intel Corporation v. Hamidi (June 30   In its lawsuit, Intel relied on rules of property law in arguing that Hamidi illegally trespassed onto its "chattel", or personal property, (i. e., the computer system) by sending about six emails to 30,000 current employees Finally   143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: Senate Bill 891 rewrote N.C. Gen. Stat. 143-129 (the statute requiring local governments to take bids for certain purchases) if the prospective personal property procurement is one where: performance or price competition aide is not available; a needed product is available from only one source of supply; standardization or compatibility is the Lease Termination Agreements: Get Out Quickly   China Law & Policy Digest - March 11   Corporate Governance Issuance of RMB-denominated bonds investment projects funded by foreign governments and organizations Establishment of accounting firms Trade barrier investigations Outbound personal property Conduct of directors of listed SMEs. Administrative Measures on Remittance of Foreign Exchange Relating to Outbound Personal Property December 1   It has been reported on November 17, 2004, that the PRC’s Central Bank will relax some restrictions on the transfer of personal assets abroad, such as permitting emigrants to take their personal property, and heirs to take inheritance, out of the country. The measure is considered another step toward liberalizing the PRC’s currency restrictions "Security Interests Protect Creditors   Division 9 presides over the procedures for creating and enforcing security interests in most types of personal property in California. These procedures underwent significant changes as of July 1, 2001, with comparable provisions adopted in all states by April 1, 2002 Sales and Use Taxes - Overview and Nexus   "tangible personal property" or services, as defined in the statute. There is a compensating use tax of 6% for property which is used, stored or consumed within the state, on which sales tax was not paid China Law & Policy Digest - February 25   Notice Regarding Submission of Tax Clearance Certificate or Tax Completion Certificate for Outbound Personal Property Overseas. This notice follows the Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers issued in November 2004 China Law & Policy Digest - November 27   Overseas Investment Employee protection Construction project management companies regulated Overseas transfers of property and funds by emigrants Establishment of TV and broadcasting companies Land quotas for construction Transfer pricing Periodic Stamp Duty payments Reporting requirements for PRC entities investing overseas. Provisional Administrative Measures on Outbound Personal Property and Foreign Currency Transfers China Law & Policy Digest - January 31   : IMMIGRATION ALERT: Recent News from DOS   A package of producing oil and gas properties and a chain of hotels both include significant real estate assets and virtually every category of personal property recognized by the U.C.C., and all of the asset categories must be addressed in the collateral documents. However, there are issues that arise in oil and gas lending that are absolutely unique to this area Akin Gump: Texas Supreme Court Favorably Interprets Constitutional...   Specifically, they noted that to be valid, a home equity loan under 50(a)(6) must be made without personal recourse. If the cure provision only applied to the forfeiture remedy and did not validate the lien, then the lender would be left with an unsecured, no personal liability loan and no method for recovering any sums extended to the borrower Ballard Spahr: Pennsylvania Sales Tax Is Due On Downloaded Software   In reaching its decision, the court surprisingly determined that canned computer software falls within the statutory definition of “corporeal” or tangible personal property. The court reasoned that canned computer software, once installed, is stored on a computer hard drive, can be physically perceived by checking the computer’s files, and remains in the computer to operate the program each time it is used by the consumer Blank Rome: Owners Of Self-Storage Facilities Must Pay Philadelphia...   Blank Rome: Limited Liability Company Doesn't Protect Its Prop...   Curtis Mallet-Prevost: U.K. Trade Marks Act 1994   The 1994 Act treats registered trademarks as personal property. As such, they may be dealt with in the same manner as other intellectual property, and may be sold, assigned (in writing) and, pursuant to Section 28, their use may be licensed to third parties (again in writing) Curtis Mallet-Prevost: The New Regime for Transmission and Distribution of Nat...   The Decree provides that the construction of pipelines is of public utility (Article 10 of the Petroleum Act), which means that land and personal property may be expropriated by the Federal Government to carry out pipeline construction. Under the Expropriation Law, the Mexican Government has wide powers to impose limitations on private property, including expropriation, so long as there exists a "public purpose" (utilidad pública) and compensation is granted to the affected party, either by the Edwards & Angell: California Supreme Court says to Intel: Eat Spam by Joh...   Epstein Becker & Green: PDF   While generally available only through 2007, these changes provide incentives for certain types of charitable giving, particularly with respect to contributions of conservation easements, gifts of appreciated property by Subchapter S corporations, and charitable contributions by individual retirement accounts. Increased Deductibility of Conservation Easements Prior to the Act, the deductibility of charitable contributions of real property was generally limited to 30% of a taxpayer's adjusted Gardner Carton: Critical Computer Assets May Be Exposed to Risk by Gaps...   Gray Cary: New California Sales Tax Rules Apply to Software Mainte...   Gray Cary: New Law May Affect Your 2001 Return:? Highlights of the...   Gray Cary: E-Commerce Taxation in California:? A Look at Nexus and...   Gray Cary: Intangible Property May be Subject to California Sales ...   Gray Cary: Sales Tax Treatment of Equipment Bundled with Telecommu...   Gray Cary: Sales and Use Tax Nexus Issues: A Practical Guide for E...   Honigman Miller: Gasoline Dispenser Is Not A "Facility" Under Pa...   Saco filed a counter-claim against Omega, and also filed a claim against C.F. Fick Inc. (Fick), who apparently owned a gasoline dispenser on the property in question. Saco's claim against Fick was based on the theory that Fick owned the gasoline dispenser, that the gasoline dispenser was a "facility" under Part 201 of NREPA, and that Fick was, therefore, liable for cleanup costs on the property because Fick was the owner or operator of a "facility" from which there was a release of hazardous Honigman Miller: Insurance Won't Pay To Defend Criminal Prosecution   Liabilities insured by the policy included: liability under §1002 of the Oil Pollution Act (OPA) for the costs of removing discharged oil; liabilities under §1002 of the OPA for damages resulting from such discharges, including damages to natural resources and damages to real or personal property; liability under §1005 of the OPA for interest on claims for removal costs and damages; and equivalent liabilities under state law. The Court of Appeals observed that the indictment against Busch did Honigman Miller: Michigan's Single Business Tax Brownfield Credit (a...   Under SBT Act 38g(33)(k), a "project" is the total of all eligible investment of an eligible property. Pursuant to SBT Act 38g(33)(m), a "qualified taxpayer" is a taxpayer that owns or leases eligible property and certifies that the Michigan Department of Environmental Quality has not sued or issued a unilateral order to the taxpayer to compel response activity on or to the eligible property, or has expended any state funds for response activity on or to the eligible property and demanded McGlinchey Stafford: Within the Firm (McGlinchey news)   McGuire Woods: SUMMARY OF IMPORTANT INFORMATION   McKenna Long & Aldridge: Contracting with the Federal Government   Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Georgia Sales and Use Tax   The determination of sales and use tax liability generally turns on whether the transaction in question is a sales transaction versus a service transaction or whether the property involved is tangible personal property versus intangible personal property. Even if the transaction in question involves the retail sale of tangible personal property, liability from sales and use tax may still be avoided if one (1) of the seventy-two (72) statutory exemptions contained in the Code applies Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: State Taxation of Computer Software   Therefore it is not surprising that the revenue codes of many states generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Current Issues in State Taxation of Computer Software: ...   Therefore it is not surprising that the revenue codes of many states, including Georgia, generally reflect an economy in which the principal form of business is the manufacture and sale of tangible personal property. Software can assume at various times aspects of a service transaction, tangible personal property or intangible property Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Introduction and Overview to Georgia Property Taxes   MMM - Published Articles -- -- PUBLICATIONS S -- PUBLISHED ARTICLES -- -- -- PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 ) Introduction & Overview to Georgia Property Taxes By Charles R. Beaudrot, Esquire Morris, Manning & Martin, LLP crb@mmmlaw. Property taxes, generally referred to as ad valorem taxes, are the oldest source of revenue used by the State of Georgia and its political subdivisions Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Sales and Use Taxes on Software   The Georgia Department of Revenue currently takes the following position with respect to the imposition of sales tax on software transactions: "Canned or prewritten software is taxable as a sale of tangible personal property. Prewritten software that is modified for a customer's needs is taxable. A program written for a specific customer to his needs would be a personal service transaction and not subject to the tax". Tangible vs. Intangible Property Morris: Georgia's New Withholding Rules   II. Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. At the same time as the legislature was enacting the partnership and S corporation withholding rules, the legislature also enacted a new withholding tax with respect to transfers of real property by nonresidents Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Morris: CyberTax: Taxation of Electronic Commerce   The law limits a state s power to impose income taxes on out-of-state sellers of tangible personal property which confine their in-state activities to solicitation of sales. Probably a majority of the states (including Georgia), do not tax electronic services because they are regarded as tangible personal property and state statutes do not extend to services that would include on-line and Internet access Sidley Austin: Tax Alert - The American Jobs Creation Act of 2004 - Pr...   A "straddle" generally means offsetting positions with respect to actively traded personal property. Positions are offsetting if there is a substantial diminution in the risk of loss from holding one position by reason of holding one or more other positions in personal property Stroock: "Summary of Jobs and Growth Tax Relief Reconciliat...   50% First-Year Deduction Fifty percent of the cost of certain depreciable tangible personal property that is placed in service after May 5, 2003 and before January 1, 2005 may be deducted in the first year. Immediate Expensing In addition to the 50% first-year deduction mentioned above, taxpayers are permitted to deduct immediately up to $100,000 (the previous limit was $25,000) of the cost of depreciable tangible personal property placed in service in taxable years beginning in 2003,2004,or Vorys Sater: New Rules - How the new commercial activity tax affects...   A personal property tax was in place that acted as a deterrent for business investment in Ohio. For example, if you were a business owner who spent a large sum of money on equipment to create new jobs in Ohio, you would be heavily taxed on the equipment under the personal property tax Weil: Preexisting Security Interest Preserved Under Confirmed...   Article 9 of the Uniform Commercial Code ( UCC ), which has been adopted in all fifty states, governs the creation, perfection, priority, and enforcement of security interests in personal property. As a general rule, a party with a security interest in most forms of personal property must file a financing statement identifying its collateral in the appropriate jurisdiction in order to perfect its security interest Want Alerts, Online Saving Options, Publishing Capabilities, and More? Check out LawKT Premium. [ Terms Of Use | Privacy | Disclaimer ] © 1998-2004 SurfWax, Inc. All rights reserved. Patents pending.

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