Personal Property Tax?

Discussion in 'Trucker Taxes and Truck Financing' started by TruckerPete1990, May 17, 2021.

  1. TruckerPete1990

    TruckerPete1990 Road Train Member

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    So i find this interesting. I financed my APU.. Well today i got a letter from the finance company for my APU saying i owe Personal property tax on it... Has anyone ever had this happen or heard of it?
     
    Flat Earth Trucker Thanks this.
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  3. skallagrime

    skallagrime Heavy Load Member

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    Interesting, for my state (indiana) im pretty sure i would file that as a depreciating asset not personal property, but i am not a tax professional and your state may vary, your finance co may be right, they may be wrong, am unsure
     
  4. Flat Earth Trucker

    Flat Earth Trucker Road Train Member

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    Sounds like a scam to me. Why? It comes from a finance company.

    Giggle it and see what comes up.
     
    Last edited: May 17, 2021
  5. wndrwtr

    wndrwtr Light Load Member

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  6. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    I'm not sure if they collect Personal Property Tax on business equipment.

    Maybe @Judge @wore out @Misesian or other Arkansas O/Os can answer this.
     
  7. wore out

    wore out Numbered Classic

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    They do not. That’s what the Advalorem tax is for. Now if you run a farm plate or single state K plate you will pay personal property tax
     
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  8. Misesian

    Misesian Road Train Member

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    I second what Wore Out said. You should only be paying Ad Valorem. It may have something to do with how you bought or how the finance company did the paperwork. Arkansas may think it’s a personal purchase like a used car or something. You’d need to look over the loan paperwork and ask an accountant where the problem is.
     
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  9. Judge

    Judge Road Train Member

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    Yeah, someone screwed up paperwork, apu don’t have property tax
     
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