Sales tax you pay for inventory used in manufacturing your goods is a cost of goods sold. The inventory you purchase is also a cost of goods sold; however, the sales tax expense for the inventory is ...

When a business purchases property, plant or equipment -- fixed assets that generally have a useful life in excess of one year -- generally accepted accounting principles, or GAAP, require all ...

Compare what you paid in sales tax to your state and local taxes. Deduct the larger of the two. But there's a catch. Many, or all, of the products featured on this page are from our advertising ...