Quote:
Originally Posted by JaneFancher
Thanks to the Thor-tool decision, those warehoused books became taxable items not just in the first year of production but for every subsequent year.
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[nitpick]Not quite. The asset itself isn't taxed, but because it must be accounted for at full cost value, it increases pre-tax profit in the accounts, and so increases the amount that must be paid in tax.
There's a very good explanation of the effects of the decision at
http://www.sfwa.org/bulletin/articles/thor.htm