Quote:
Originally Posted by Little.Egret
Inventory taxes are a fairy story.
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I wish the State of Georgia would considered the taxes I pay on my inventory to be imaginary. Of course if I don't pay them I can lose my business and go to jail. I would also lose the $200.00 for bypassing GO on the way to jail.
Inventory taxes, in Georgia, fall under property taxes and are considered income by the State of Georgia. I consider anything I have yet to sell as an expense. Of course since Georgia sets the laws my opinion is just gas. And if you do not sell it ion the first year you will continue to pay taxes on it until you do. So IMO you are wrong.
Apache