On Tue, 3 Oct 2017 10:16:27 -0700 (PDT), wrote:

On Tuesday, October 3, 2017 at 8:51:03 AM UTC-7, Ed Huntress wrote:
On Tue, 3 Oct 2017 10:41:46 -0400, "Phil Kangas"
wrote:


"Gunner Asch"
wrote in message
On 02 Oct 2017 17:11:52 -0300, Mike Spencer
wrote:


Until keeping that stock on the shelf becomes a tax
liability.


And thats exactly what happened. As you stated...it was
very common
for shops to run a ****load of parts..ship what was
ordered, then put
the balance in storage until the next order.

This is one of the reasons I have a **** ton of nuts,
bolts and
fasteners of all sorts..plus material that they were made
of. They
had to get rid of the inventory else it was taxed several
times..and
yearly. And this couldnt be passed along to the customer

That inventory tax has to be the most stupid and
unfair tax on the IRS books! Who is the jackass
that pushed for that?

It should not surprise you to learn that Gunner is full of ****.
Inventory tax is a state tax, not a federal tax, and it only applies
to a few states:

https://taxfoundation.org/does-your-...ess-inventory/

Gunner's state of California is not among them.

He may be thinking about business ad valorem taxes, which are state or
local property taxes. They are not inventory taxes, and, again, they
are not federal taxes.

Dobe Dave used to bitch here about the business property taxes he paid
on his machine shop, in Texas.

--
Ed Huntress

Several distinct issues are being conflated here, Ed.
I'm not surprised...

Right. Note that inventory taxes are mostly a red-state thing, and
kind of a throwback to days when state governments would jump through
hoops to hide taxes and to avoid taxes on individuals. Politics, ya'
know.

--
Ed Huntress