Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > B > 205.0000 BUSINESS INVENTORY EXEMPTION > 205.0245

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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B

205.0000 BUSINESS INVENTORY EXEMPTION

Annotation 205.0245

205.0245 Research and Development Costs. The business inventory exemption applies only to research and development costs that are related to a product that is held for sale or lease in the ordinary course of business. While such costs related to assessable tangible tools or machines are assessable, it does not necessarily follow that all other research and development costs are non-assessable simply because they are "consumed" as part of any research and development process intended to develop a product that eventually may or may not be held for sale. C 12/5/2008.