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Ed Johnson
Ed Johnson, HR & Business Operations Consultant
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Experience:  Central Michigan University, MSA Candidate; Global Compensation Operations Mngr; AA Degree Lib Arts
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What are inventory tax rates by US state

Resolved Question:

In many US states, businesses pay tax on inventory held in their warehouses. States (and possibly counties) charge different rates. I am looking for the rates charged by each state to enable the high-level comparison of one state versus another.

If the rates vary substantially by county within a state, then county-specific rates would be preffered.
Submitted: 7 years ago.
Category: Finance
Expert:  Ed Johnson replied 7 years ago.

What tax are you speaking about? What kind of inventory.

Many states have a floor tax that is a sales tax, other have a property tax. What tax are you speaking of?

Customer: replied 7 years ago.
I beleive it's considered Property Tax - on the goods that are held in inventory at a warehouse. Im not familiar with "floor tax". The products in question here would be any type of products - typically finished goods.
Expert:  Ed Johnson replied 7 years ago.

DearCustomer

wow, there are 15 states that tax inventory. this will take some time. I am not sure I have the time to do this. when do you need it? Is this a school project?

Customer: replied 7 years ago.
I think you're right - could be too big a request for this venue. I need quickly and should probably pursue other channels.
Expert:  Ed Johnson replied 7 years ago.

I am giving it a shot.

I have found that at least 3 states of the original 15 are no longer assessing inventroy tax, so the list grows shorter.

Here is the final list. As you will see, many states are discovering that the inventory property tax is a dis-ensentive to business and are phasing it out.

 

Time spent to this level, 1 hour 51 minutes

 

Ed Johnson, HR & Business Operations Consultant
Category: Finance
Satisfied Customers: 10760
Experience: Central Michigan University, MSA Candidate; Global Compensation Operations Mngr; AA Degree Lib Arts
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Central Michigan University, MSA Candidate; Global Compensation Operations Mngr; AA Degree Lib Arts