There are several more taxes that small businesses must adhere to each year. This lesson explains these other taxes including: Real Estate Taxes, Business Property Tax, State Franchise Tax, State Licenses or Fees, Unique Production or Consumption Taxes, and Assessments.
Personal Property Tax
A tax on personal or business property assessed annually and collected by the Commissioner of the Revenue. Each locality uses its own reporting format in determining the amount of tax due.
In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet. The formula looks simple and in reality it is; but you must understand the underlying elements to truly appreciate and comprehend the calculation.