Delaware has developed a reputation for being very aggressive in its unclaimed property auditing procedures through the use of third-party contract auditors. Several appeals filed in federal court challenging Delaware’s...more
The deadline for filing a 2014 Abandoned and Unclaimed Property Report with the Pennsylvania Treasury Department is April 15. Major changes were made to PA's Disposition of Abandoned and Unclaimed Property Act (the...more
In This Issue:
Fuel Taxes Increased to Solve Transportation Funding Shortfall; PA Supreme Court Upholds Rejection of Township Business Privilege Tax; Unclaimed Property - Challenge to Delaware’s Auditing Procedures;...more
12/13/2013
/ Audits ,
Business Privilege Tax ,
Contaminated Properties ,
Contractors ,
Environmental Assessments ,
Exempt Organizations ,
Mining ,
Property Damage ,
Purchase Price ,
Repairs ,
Sales & Use Tax ,
Tractor-Trailers ,
Unclaimed Property
Many companies are particularly susceptible to significant unclaimed property exposure in Delaware because holders of property for which the owners’ addresses are unknown generally must report and remit such property to their...more
Most states require the holder of “abandoned” or “unclaimed” property to report (and remit) such property after the expiration of a certain number of years (the “holding period”). These “escheat” laws generally apply to any...more