Quote:
Originally Posted by Apache
The county property tax, for businesses in Georgia, tax all property that the business owns. This includes chairs, desks, showcases, computers and even inventory. I consider inventory an expense until I sell it. Governments seem to consider inventory an income even if you do not sell it.
Apache
|
Is there depreciation in your area? That opens up a whole new can of worms.
I once saw a court decision which supported inventory taxes on the basis that until it is sold/consumed/whatever, it is property that you own however temporarily. Yet another reason for JIT.