I gotta throw this one out. A buddy has a truck repair shop. He routinely would replace a starter or generator or tranny. then have the old one rebuilt and stick it in a cubby area over the shop. Over a few years, it became a spare parts repository for a good bit of stuff.
Enter the revenuer. "You gotta inventory everything, and pay an inventory tax on it every year." Nope. "Either you do, or I'll come back with the police". Bring 'em on....
About a month later, here comes this fool- I'm sorry, Government Man- and two of the biggest State Troopers he could round up. Buddy pointed to a ladder, and said, 'Have at it'. About fifteen minutes up in that attic area, in the middle of July, the G-man came down and asked for a fan. 'Don't have one, go get your inventory done...' About five more minutes passed, and the G-man reappears. "Would you think there is $100,000 worth of parts up there?" Nope- go finish your inventory... Another five miutes, and "Would you settle for $50,000?" Nope- go do your work... About five more minutes, and all three appeared, looking like well done lobsters. They offered $10,000, and my bud then suggested $100. He paid his inventory tax and hasn't been reassessed since.....
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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