I didn't say you could "Write it off". I said it is considered "cost of goods sold" which reduces your tax burden.
If it doesn't sell it is then a "write-off". You can't deduct it as a loss because you have already reduced your taxes when the inventory was purchased. But you are not taxed on inventory. Joe -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Nolan Penney Sent: Tuesday, June 24, 2003 9:57 AM To: [EMAIL PROTECTED]; [EMAIL PROTECTED] Subject: RE: Reproduction parts and limited runs? You can write off or depreciate equipment, not inventory. >>> "Joe Curry" <[EMAIL PROTECTED]> 06/24/03 12:12PM >>> What state charges "Inventory Tax"? Inventory costs are part of the cost of goods sold and are therefore a tax write-off not a tax burden. /// [EMAIL PROTECTED] mailing list /// Send admin requests to [EMAIL PROTECTED] /// or try http://www.team.net/cgi-bin/majorcool /// Archives at http://www.team.net/archive /// Send list postings to [EMAIL PROTECTED] /// Edit your replies! If they include this trailer, they will NOT be sent.
