[2016 Camaro SS]

Originally Posted by Koa

According to Texas state tax code 23.122, which this pamphlet referrs to, this vehicle inventory tax (VIT) is taken at the sale of each vehicle, not simply having them on the lot. The VIT form must be completed regardless whether or not there have been any sales, but in the event of no sales, the VIT form will report $0 levied taxes to the dealership pertinent to this specific sales tax

http://www.statutes.legis.state.tx.u.../htm/TX.23.htm

We'd live in a sick, sick country if we were taxed by simply having inventory on hand. We're not far off, though. A good rule of thumb for taxation is that for every dollar one earns, the government is looking for their share. Exemptions in the form of tax credits are the only safeguard from all revenue sources- the rest are just temporary shields or, even worse, prepayments.

This is also why I never became an accountant, lol.