1) Business Property Example – Used in a trade or employment

The customer and her spouse have a small commercial fishing business. They own a commercial fishing permit granted by the State Commerce Commission, a boat, and fishing tackle. They have been in business since 2002. The Arizona Corporation Commission records show incorporation in 2003. The customer also provided a copy of their most recent business bank statement for proof of income. The bank statement supports the customer’s statement that the property is currently in use. Since this is a valid trade or business, the boat, tackle and permit are all excluded as essential to self-support.