Biz Briefs: Returns due, Cold Train sues BNSF
Business personal property returns due April 30
The deadline for filing business personal property returns with the Grant County Assessor’s Office is April 30.
Delinquent listings postmarked after April 30 will be subject to a 5 percent penalty per month, up to a maximum of 25 percent of the tax.
Most personal property owned by individuals is exempt and is not subject to property tax. However if these items are used in a business, property tax then applies. All personal property used for farm and commercial businesses must be filed annually with the county.
Personal property is all equipment, furniture, fixtures, small tools, computer software, machinery, irrigation and supplies used for a business. Household furnishings are exempt and need not be listed.
If a taxpayer has not yet received a form in the mail, personal property forms may be obtained from the assessor’s office. For more information, call 754-2011, extension 2608.
Cold Train files lawsuit against BNSF
Two former executives of Cold Train filed a multi-million dollar federal lawsuit against BNSF Railway Co., blaming the railroad for the failure of the refrigerated rail service at the Port of Quincy’s intermodal yard.
Steven Lawson, former president and CEO of Cold Train, and Mike Lerner, former managing member of the company, say they were forced to shut down their rail service because BNSF failed to meet its promise for 72-hour delivery times.
The case, filed in federal court in Spokane, seeks $41 million in damages, according to a press release.
The complaint alleges that the 72-hour “on-time percentage” steadily dropped from 92 percent in August 2013 to 3 percent in April 2014.
The executives contend BNSF’s scheduling issues, favoring oil and coal over fresh produce, resulted in Cold Train losing most of its fresh produce business, which was more than 70 percent of the company’s business.
“The shutdown of Cold Train was caused by a significant slowdown in BNSF’s service schedules on its northern corridor line beginning in the fall of 2013 because of increased rail congestion as a result of BNSF hauling larger volumes of oil and coal from the Northern Plains region,” the press release states.