On Fri, 10 Aug 2012 22:31:46 -0500, The Daring Dufas
wrote:

On 8/10/2012 8:27 AM, Kurt Ullman wrote:
In article ,
The Daring Dufas wrote:



I seem to recall something called an "ad valorem tax" where a business
must pay a tax on the value of its assets like tools and equipment used
in the operation of the business. That one always struck me as odd. O_o

Ad valorem is just latin for property tax. I would suspect that most
states with property taxes have some sort of tax on this type of things.
Some even on inventory.


It's done around here to businesses and it's silly because the owner
paid sales tax on the items when purchased. I think there is something
inherently unfair about paying tax on something you already paid tax on
and be taxed over and over again on the same item. It's conceivable that
if you owned a tool or piece of gear long enough, the total tax you pay
could exceed the purchase price of the item. O_o

Even worse than the ad velorem tax is the gross receipts tax. It's a real job
killer. All taxes are, but the GRT is the worst.