Monday Map: Property Taxes on Business Inventory

September 17, 2012

Today's Monday map focuses on a pernicious aspect of certain state property tax systems – the inclusion of business inventory in the tax base. Eleven states (mostly in the South) do this, with a further three states partially taxing inventories.

Click on the map to enlarge it.

View previous Monday maps here.

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A tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.

The tax base is the total amount of income, property, assets, consumption, transactions, or other economic activity subject to taxation by a tax authority. A narrow tax base is non-neutral and inefficient. A broad tax base reduces tax administration costs and allows more revenue to be raised at lower rates.