[William Tell]

Arthur Wildfire! March said: You mean to say that if Wal*Mart keeps a million dollars worth of medicine and/or food on stock that is not tallied as ‘assets’?

No, that's not what I am saying.

"Inventory" is a subset of "assets".

Under California's inventory tax law, which I believe no longer exists, businesses would have to periodically count their entire inventory and pay a tax based on the value of the inventory. Other types of assets would not be included for the purposes of calculating the inventory tax.

For all other purposes, inventory would simply be treated as other assets would.

[Arthur Wildfire! March]

Ah! Cleared up then.

Right. I didn’t mean any special ‘inventory’ tax. But inventory is part of the ‘assets’ that get taxed.

All cleared up then.

Sorry to confuse you.