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Who pays inventory tax in Texas?

The VIT is a property tax assessed on the dealer, not the purchaser, and is a negotiable item on the sales agreement.

What is a vit?

Vehicle Inventory Tax (VIT)

How much is inventory tax in Texas?

Its huge, says Zavary, Its close to 3.6 to 3.7%. So, if you have a million dollars worth of inventory, at the end of the year, you have to pay that 3.6 to 3.7%. For those who need a little help with the math, that million dollars worth of inventory means a $36,000 to $37,000 tax bill every single year.

Is there a federal inventory tax?

Yes. Inventory tax is a taxpayer active tax. That the taxpayer (business owner) must calculate it.

Who pays the vehicle inventory tax in Texas?

The VIT is a property tax assessed on the dealer, not the purchaser, and is a negotiable item on the sales agreement.

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