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Non-Cattle Specific Topics
Every Thing Else Board
Income tax
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<blockquote data-quote="Jogeephus" data-source="post: 299167" data-attributes="member: 4362"><p>The tax I think is so crazy is the "intangible tax". Say for instance I buy a squeeze chute for my operation. I pay 7% sales tax on it when I buy it. Then because I own it and it is useful to me in making a profit - but you really can't put a figure on the profit I make with it because it is Intangible. I have to pay a yearly tax on its usefulness. (Farm equipment is exempt from this, I just used this as example but you should get my drift.)</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 299167, member: 4362"] The tax I think is so crazy is the "intangible tax". Say for instance I buy a squeeze chute for my operation. I pay 7% sales tax on it when I buy it. Then because I own it and it is useful to me in making a profit - but you really can't put a figure on the profit I make with it because it is Intangible. I have to pay a yearly tax on its usefulness. (Farm equipment is exempt from this, I just used this as example but you should get my drift.) [/QUOTE]
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