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duty tax

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babybuggs

Member
What is the name of your state? north carolina

is duty tax paid for commercial use and absorbed by a business eligible for a tax deduction?

are the services of a hired customs broker tax deductible (perhaps under professional services?)?

are ad valorem processing fees charged by CBP officers tax deductible?

thank you.
 


LdiJ

LdiJ

Senior Member
babybuggs said:
What is the name of your state? north carolina

is duty tax paid for commercial use and absorbed by a business eligible for a tax deduction?

are the services of a hired customs broker tax deductible (perhaps under professional services?)?

are ad valorem processing fees charged by CBP officers tax deductible?

thank you.
Click to expand...
Duty and customs brokerage fees need to be factored into the cost of the goods you have purchased, and should be deducted as costs of goods sold, as the products are sold.

Therefore yes, they are deductible, but not as an expense, but rather as cost of goods sold.
 
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