Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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B

205.0000 BUSINESS INVENTORY EXEMPTION

Annotation 205.0315

205.0315 Tomato Paste Bins. If title to tomato paste bins passes to the purchasers of the tomato paste in accordance with the provisions of Property Tax Rule 133(a)(1), then the bin or drum may be considered part of the container of the tomato paste and is eligible for the business inventory exemption. Rigid delivery cases can be considered containers eligible for exemption when the products that they hold, enclose or contain are placed on or in the rigid delivery cases at the time of manufacture and are not removed until the products are ready to be used or consumed by the purchaser. In shipping tomato paste, each foil bag is attached to or placed in a bin or drum prior to being filled with tomato paste, and the foil bag is not removed from its bin or drum until the tomato paste is ready to be utilized by the purchaser of the paste. C 10/25/2005.