Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2015
Property Tax Annotations
205.0000 BUSINESS INVENTORY EXEMPTION
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.