The Ruling on the Zakah of a Fabric Shop and the Method of Paying It

Question:
A questioner says: We have a shop for selling fabrics. Is zakah obligatory on us for it? And what is the method for paying it?

Answer:
The one who has a shop for selling fabrics, or cars, or other things, or for trade, pays zakah on it when the lunar year has passed. When the year has passed, he knows its value. The goods, or the vessels, or the cars he has for sale, when the year is completed, he assesses their value with people of expertise, consulting with them until he knows their value, then he pays zakah on it every year. As for the tools used for sale, such as chairs or mats used for sale, there is no zakah on them. Zakah is due on items for sale: vessels, clothes, cars, goods for sale, a house for sale. This is not haram; you pay a quarter of a tenth of its value. From forty thousand, from one hundred thousand, half, and so on, a quarter of a tenth. Yes.