SERVICES

Advanced Property Tax Compliance provides complete outsourcing services for personal property tax compliance or a program that will augment your in-house process.

We have the flexibility to create a program to meet each Lessor’s needs. Listed below are the main service points without getting too detailed.

1. Import fixed asset data quarterly and utilize our proprietary software system in determining assessable assets and assessed values. We can except files created from any lease management software or in any standard e-file format.

2. Record each asset individually within their software. All pertinent property tax information for each asset will be maintained as well as any user defined fields. The capability to track data within the proprietary software is unlimited.

3. Review each asset to determine the taxability and correct depreciation classification based on the asset description from the data file and through discussions with Lessor.

4. Prepare and file all personal property tax returns in all jurisdictions that require a return. Returns will be filed on-time or Advanced Property Tax Compliance will be responsible for any penalty or interest required due to late filing.

5. Discuss returns and assessments with assessors as necessary. With each return filed, a notification will be sent to the assessing jurisdictions to change the billing address, so the tax bills are sent directly to Advanced Property Tax Compliance.

6. Review assessment notices and tax bills for accuracy, current tax rates, and reconcile each asset’s assessed value as filed against the value represented on the tax bill(s). Once reconciled, each asset will be assigned an individual taxable amount with the corresponding tax bill(s) numbers.

7. We offer multiple options when it comes to the payment of tax bills. The option that is right for your firm will be based on your firm’s cash flow, corporate policies, and operational requirements. Advanced Property Tax Compliance does pay tax bills directly for Lessors out of a satellite checking account as one option.

8. Provide a reconciliation report of taxes paid on a monthly basis using the balance statements if payments are made by Advanced Property Tax Compliance.

9. Provide electronic property tax billing files to Lessor that can be imported directly into Lessor’s lease management software, or in Microsoft Excel format for the purpose of invoicing Lessees for property taxes.

10. Compute administration fees per asset or lease of any variety as directed by Lessor, and include such fees in the billing files.

11. Identify which states require sales tax on property taxes and either include an indicator in the billing file or compute the sales tax amounts using monthly updates from CCH.

12. Provide billing files when funds are requested or before taxes are due. Billing files can be actual taxes due or estimates based on historical data. If billing files are not going to be used, Advanced Property Tax Compliance will create PDF invoice files with Lessor’s logo that can be printed to sent directly to Lessees.

13. Provide on-line access to Advanced Property Tax Compliance proprietary software via the Internet so Lessor can view asset information and print property tax specific reports by Lessee name or lease number.

14. Provide training to Lessor’s personnel so they can understand how to use the software on-line and print reports.

15. Provide standard printed reports on a timely basis. Advanced Property Tax Compliance can develop files and reports that are unique each Lessor.

Represent Lessor in audits with assessing personnel as necessary until conclusion, including the review and/or preparation of worksheets requested by the taxing jurisdiction.