Excise Tax Enquirer

FET on the resale of a truck body

October 5, 2011
Rose-Michele Nardi
Weiner Brodsky Sidman Kider PC
​​​​​​​A few months ago, we purchased a new truck body for use in our business. The body was taxable, and we did not purchase it for resale, so our invoice included a charge for FET. Now, we no longer need the body for use in our business and would like to sell it. Would FET apply to our sale? Does it matter if we have owned it for less than six months?
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