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Get your taxes done using TurboTax
If you pay sales tax on inventory, you can include that as a deductible business expense.
However, I think that most states will give you a sales tax exemption when you are purchasing inventory that you sell on to other customers, as long as you charge sales tax on the finished product. You will have to check with the Utah Secretary of State or tax department to understand your eligibility for any exemptions as well as your obligations to collect sales tax from your customers.
I think it is unlikely you can get a refund for tax already paid, but you may be able to apply for an exemption from sales tax for future inventory purchases.
‎September 7, 2023
2:04 PM