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Is use tax levied on items purchased for resale?

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  • Is use tax levied on items purchased for resale?

Is use tax levied on items purchased for resale?

If goods are purchased by an individual for the purpose of resale and then consumed or used instead of being sold to a retail consumer then use tax would be due on those goods. Additionally, in many jurisdictions, if those goods are held in inventory and not sold by the end of the year, use tax would be paid in lieu of the sales tax that would have been collected if they were sold.

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Updated on November 10, 2020
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