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White Water Rafting Site Recommendation
Christopher Davis, Liquita James, and Susan Williams
ACC/543
August 13, 2012
Linda Miller

White Water Rafting Site Recommendation
White water rafting is a new sport that has gained popularity in recent years. Because of this popularity the white water rafting business has expanded. Our client is interested in opening a white water rafting business. The client has three states in which they are interested in Alabama, Georgia, and Virginia. The client has requested that the accounting firm research to see which location would be best for their new rafting business. Research must be done of the legal ramifications of real property, personal property, business insurance and environmental issues and regulations for each location in order to make the site recommendation. Real Property and Personal Property

Real Property is the land itself and any building, trees, soil, minerals, timbers, plants, and other things permanently affixed to the land. Land and buildings are purchased and the owner may use, enjoy, and develop the property as he or she sees fit, subject to any applicable government regulation. Buildings that are constructed on the property are also real property. Personal property is tangible property such as equipment, vehicles, furniture, and jewelry, as well as intangible property such as securities, patents, trademarks, and copyrights. Determining if a mobile home can be used for the office on the new location is important to the client. Therefore we would need to know in each location if the mobile home is considered real property or personal property. In Toccoa Georgia real property can be purchased for around $150,000 for 2.2 acres on the Toccoa River. Placing a mobile home on this land for the office would be considered real property in Georgia as long as the mobile home is titled to the same party that owns the land. The mobile home must be tied down and blocked in to be considered for commercial use.

In Cahaba River City: Mountain Brook, Alabama the tax assessing official makes the differentiation between real property and personal property by considering the manner in which property is attached to or secured at the location and the purpose for which the property is used. Intangible personal property includes an owner’s representation of rights to property such as shares of stock, annuities, patents, market certificates, etc. Intangible personal property owned by businesses is not taxable under the property tax laws of this state. Business personal property is considered Class II property and is taxed at 20% of market value. Market value multiplied by twenty percent equals the assessment value, which is then multiplied by the appropriate jurisdiction’s millage rates to determine the amount of tax due. The State of Alabama publishes a personal property appraisal manual so that basic methods and procedures can be followed in the personal property appraisal process (“Personal Property”, 2012). Land in Birmingham, Alabama is roughly around 45,000 an acre. Rappahannock River in Fredericksburg Virginia is a combination of rural and urban life. The river is located off a major highway leading north and south of the area. It's it also located between the capital Washington, D.C. and the capital of the state, Richmond. It's a great area for relaxing and family with a country feel. There are major tourist’s sites such as war battlefields, art galleries and antique shops. The mobile home issue as an office would be considered real property in Virginia. Once the home or office t is off the truck and secured on the ground it is considered real property. Lots run from $120,000 up to $700,000.00

Business Insurance

It is also important that we research what each site location business insurance requirements are. Business Insurance will protect our client and their property from damages and any unforeseeable circumstances.

For Georgia the following...
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