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In the case of a dealer whose sales from dealer’s motor vehicle inventory are made predominately to dealers, the chief appraiser shall appraise the dealer’s motor vehicle inventory as provided by Section 23.12 (Inventory) of this code.
Some people believe that inventory can be used as a line item deduction, but unfortunately you can’t deduct inventory expenses from your taxes. In fact, in some states, inventory carries additional taxes, though the exact amount varies by location.
If the place of taxation of the intra-Community distance sales of goods is in the Member State in which the goods are located at the time when dispatch or transport to the purchaser ends, account for the VAT due can occur in two ways. The supplier may choose to register for tax purposes in the country of consumption.
This inventory tax statement must be filed by a dealer of motor vehicles pursuant to Tax Code Section 23.122. This statement is filed together with an amount equal to the total amount of the unit property tax assigned to all motor vehicles sold in the preceding month.
8 mar 2008 · Texas levies an inventory tax of .02% on the retail value of all products in a company’s inventory each year, but lots of car dealerships try to sneak the fee over to the consumer.
Section 23.12 through 23.128 of the Texas Property Tax Code describes how a county appraisal district appraises special inventory for property tax purposes and how dealers pay their property taxes on this inventory. The four types of dealers include: Motor Vehicle; Vessel, Trailer and Outboard; Heavy Equipment; Manufactured Housing Retailers
For local property tax purposes, Texas law requires a motor vehicle dealer’s inventory to be appraised based on the total sales of motor vehicles in the prior year. A dealer must file an annual declaration of total sales from the prior year with their county appraisal district.
