In the United States Tangible Personal Property Tax is a local tax on non-real property held by businesses. It is one of the most difficult taxes to account for and process because each locality uses a different form and a different calculation. The tax can be assessed at the state, county, or city level and in some cases, at all three levels with three different forms. The small firm I worked for had to process 12 different jurisdictions for 6 locations. The number of tax returns can increase exponentially with each company location.
Dynamics GP at least provides an option to track tangible personal property locations and costs as part of Fixed Assets, but the window is not well labeled. Consequently, most users don't know that this option exists.
This recipe looks at the tangible personal property tax functions in Dynamics GP and how to use them to make the tax filing process more efficient.