The personal property tax (PPT) is a tax imposed on “tangible” personal property, such as equipment and furniture, owned by a business. Over the years, the State Legislature has whittled away at the PPT, arbitrarily picking winners and losers by exempting specific equipment.
The remaining items still subject to the tax after more than 50 exemptions are specific to retail small businesses, for example: coolers, safes, sound and intercom equipment, surveillance equipment, signs, restaurant & bar equipment, soda machines, store fixtures, time clocks and security systems. These businesses left footing the PPT bill are in every main street in every district of the state—propane dealers, chiropractors, dentists, grocers, convenience stores, restaurants, car dealerships and the list goes on.
On behalf of these businesses, we ask that you repeal this inequitable and financially detrimental tax.