Re: Brinks Home Security Gets Caught Stealing From Its Customers

[Jim Rojas <jrojas@xxxxxxxxxxxx>]

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).
>
>
>