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Is there a retail inventory tax for the state of California?

Customer Question
Is there a retail inventory...
Is there a retail inventory tax for the state of California and how does it differ from other states? Is it just a federal tax or is there no tax?
Submitted: 6 years ago.Category: Tax
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Answered in 6 minutes by:
7/12/2011
Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 6 years ago
DanielleCPA
DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 794
Experience: Years of Experience in Business & Personal Taxes
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DMC :

Can you please be a little more specific? Inventory tax on what type of product?

JACUSTOMER :

furniture, electronic and appliances

DMC :

I am not aware of such a tax, but please let me do a little research to confirm.

JACUSTOMER :

Is there something I am suppose to be doing?

That would be great. Thank you!

DMC :

California use to have such an inventory tax; however, it was repealed in 1979.

Very few states have inventory taxes.

JACUSTOMER :

Thank you! Not sure why I thought there might be one. Thank you!

DMC :

And there is no federal inventory tax.

DanielleCPA
DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 794
Experience: Years of Experience in Business & Personal Taxes
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