If you’ve worked with property taxes for any length of time, you know audits are an unfortunate reality. Just when you were sure you had everything just right—all your assets tied to the right locations, placed in the right asset classifications, and depreciated appropriately—an auditor points out various errors and wrong decisions, and calls out your unorganized recordkeeping.

Automation is a concept that’s had the business world abuzz for some time now. Leaders from nearly every industry praise automation for streamlining cumbersome or lengthy processes across the organization. Every functional area can benefit from it, and the tax department is no exception.

To some degree, digital transformation is taking place in nearly every industry, every vertical, and every functional area. But some organizational functions are lagging—the tax department is a good example. In an EY article on the challenges tax leaders are facing in 2021 and beyond, one industry professional shares his thoughts on why:

For organizations of all sizes, it seems there’s never enough time or manpower available for corporate tax planning. But the larger your organization, the more planning is required, especially when it comes to property taxes.

Remote work has been on the rise for years, and many companies have started to offer flexible work models—in part to attract talent and in part to modernize their operations. But thanks to the global pandemic, companies that previously hadn’t considered flexible work arrangements were suddenly forced to operate remotely.

Are you well-versed on how to report your company’s assets accurately, and forecast a reliable estimate for next year’s tax liability as well? Take a look below at some tips on how property tax professionals in the Lone Star State can best manage their assets for commercial property tax in Texas; and how to prepare for the 2021 budget season.

When it comes to Maryland business personal property tax, consistency is key. Unlike other states, which have multiple local jurisdictions handling personal property administration matters, the assessment of all personal property in the Old Line State lies within the purview of a single state agency: the Department of Assessments & Taxation (SDAT). The reasoning behind this strategy? To “foster the uniform and consistent administration” of business personal property tax, which includes everything from furniture and office equipment to machinery, tools, and any other property not classified as real property.

Finding it a challenge to stay on top of Indiana business personal property tax rules? This article summarizes the essentials of the tax, and highlights new policies you should be aware of for future filing.

When even toothbrush manufacturers now claim to use artificial intelligence (AI) in their products, it’s a sign—not that AI has come so far as to be ubiquitous, but that there’s definite confusion about the meaning of the term.

Business property tax in California has continued to increase in recent years. In fact, in 2017, California had the largest dollar increase in the U.S. in business property tax revenue—$1.5 billion more than the year before. And even though California property tax increases have been fairly predictable for the last few decades, all that may be about to change thanks to the split roll property tax initiative that will unfold in 2020.