'It's a recurring repetitive tax,' one business owner said. 'We're paying tax when we buy the product... and then we're turning around and paying tax year after year after year on the same product.'
"It's a recurring repetitive tax," one business owner said. "We're paying tax when we buy the product... and then we're turning around and paying tax year after year after year on the same product."Inside the Spring Branch factory for Pieper Houston Electric, workers are fabricating parts for upcoming jobs.
His company pays $40,000 per year in inventory tax - money they could use to grow their business and help their 350 employees. The discontent with the tax has sparked a lot of conversation in Austin at the state capitol. It would take a change in state law to alter or do away with the tax. Texas is one of only nine states that still have an inventory tax. Another four states partially tax inventory. Right now, businesses only have a $2,500 exemption. In his inaugural address, Lt. Gov. Dan Patrick promised something much larger.
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