O/K, I stand corrected, there is a local (county) inventory tax on all new &
used cars as well as Sears/Wal-Mart shelf inventory, this is a "business tax"
and here in Prince William County of Virginia that amout is .0012 of inventory
at "cost", this figure is then passed on to the "federal Govt. as a cost of
doing business tax deduction, and yes we still depreciate each month the total
amount of $$$$ inventory at cost on hand. "FT"
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