By reviewing the capital leased equipment for the hospital and discovering they had been reporting leases that were also being reported by the lessor, causing the equipment to be double assessed, we were able to save them over $33K.
$33,000 in Savings For Local Hospital
Executive Summary
A nationwide health care chain engaged PVS to file the business personal property tax return for a Missouri hospital. In reviewing their prior-year return, PVS identified a double taxation issue with their capital leases.
Challenges
The forensic effort to audit the trail that prompted the collector to tax both the lessee and the lessor along with finding the documentation to prove the double taxation was extensive. This research was necessary to confirm that the select pieces of equipment were, in fact, being taxed twice.
How PVS Helped
PVS analyzed the lease agreements, pass-throughtax reimbursement invoices and tax bills from the previous calendar year and identified assets that were assessed to both parties and prepared refund requests for the taxes that were paid by the taxpayer.
Results
PVS was able to secure over $33,000 in business personal property tax savings for the client.
