Yes, not all states have it but many do.
Businesses are taxed on unsold inventory one or more times a year.
It’s one reason “Just in Time” became so popular.
Well I learned something new today.
It sounds like a tax that a bureaucrat in a tax office thinks is a good idea.
I used to be a machinist in a shop before “Just iniTime”. We had to do inventory once a year. We had to shut the entire plant down, a machine line with 30 machines. Large ones. A ten acre building. Hundreds of employees. Shut down for a week every year. Huge drag on productivity.