I resale items I purchased and paid taxes on. Will I be taxed on those same items when I resell?

[KochuK]

Hi rsc1925m, thanks for post the question.

When you purchase an item for resale, it becomes your inventory. You may pay sales tax at purchase if you do not have a resale license. But there is no income tax for purchases.

Generally, when you sell inventory for a profit: sales less cost less administrative expenses = net profit which is subject to income tax and self employment tax.

Hope the above clarifies.