Re: Brinks Home Security Gets Caught Stealing From Its Customers

["Crash Gordon" <webmaster@xxxxxxxxxxxxxxxxxxxxx>]

That was my understanding and one reason I never got into leasing stuff.

Wasn't that one of the issues few years back with ADT/Tyco stuff?



--
**Crash Gordon**







"Jim Rojas" <jrojas@xxxxxxxxxxxx> wrote in message
news:5xEhl.7280$1h4.7247@xxxxxxxxxxxxxxx
> Don't they have to inventory all that leased equipment and pay a inventory
> tax on it? Afterall it has to count as inventory if the customer never
> retains ownership. $15+ million a year is a nice chunk of change...I
> wonder if the Texas Attorney General would consider RICO charges against
> Brinks. Maybe the IRS can go after them as well for tax evasion or fraud.
>
> Jim Rojas
>
>
>
> G. Morgan wrote:
>> Crash Gordon wrote:
>>
>>> I don't get the "property" tax issue at all.
>>
>>
>> http://www.poconnor.com/article.asp?id=30
>>
>> "What is Business Personal Property?
>> The Texas Property Tax Code 1.04 (5) defines tangible personal property
>> as
>> property that can be seen, weighed, measured, felt, or otherwise
>> perceived by
>> the senses, but does not include a document or other perceptible object
>> that
>> constitutes evidence of a valuable interest, claim, or right and has no
>> negligible or intrinsic value. Examples of tangible personal property, or
>> business personal property, include equipment, furniture, computers, and
>> inventory. Business personal property would not include accounts
>> receivable,
>> stocks, bonds, notes, franchise agreements, licenses, permits,
>> certificates of
>> deposit, insurance policies, pensions, contracts and goodwill."
>>
>> It's my guess that Binky wants it both ways.  They want to retain
>> ownership of
>> the equipment (therby leasing the equipment to the end user) -- but --
>> they
>> want the end user to pay the BPP (Business Personal Property) tax too
>> (the
>> owner pays the tax).
>>
>>
>>