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Actually businesses can be forced to pay state or local tax on physical assets. It's called tangible property tax, and rules differ per jurisdiction. That said
by true_religion 9y ago
Actually businesses can be forced to pay state or local tax on physical assets. It's called tangible property tax, and rules differ per jurisdiction. That said the irs doesn't do this and doesn't count unrealized returns.
- jjeaff 9y agoEven in the case of tangible property tax, this would not apply. Tangible property tax refers to capital expenses like buildings, furniture, etc. Inventory would not be subject.