[lewislynn]

Sorry, but you're misinformed if you think land purchases aren't taxed.

`(6) Intangible property-

`(A) IN GENERAL- The term `intangible property' includes copyrights, trademarks, patents, goodwill, financial instruments, securities, commercial paper, debts, notes and bonds, and other property deemed intangible at common law. The Secretary shall, by regulation resolve differences among the provisions of common law of the several States.

`(B) CERTAIN TYPES OF PROPERTY- Such term does not include tangible personal property (or rents or leaseholds of any term thereon), real property (or rents or leaseholds of any term thereon) and computer software.

(14) Taxable property or service-

`(A) GENERAL RULE- The term `taxable property or service' means--

`(i) any property (including leaseholds of any term or rents with respect to such property) but excluding--

`(I) intangible property, and

`(II) used property, and

`(ii) any service (including any financial intermediation services as determined by section 801.

You people really need to read and understand your product before trying to sell it.

[kevkrom]

Lewis -- land is not taxable because it has already been taxed. It is, by definition, a "used" good.

[ancient_geezer]

1) The NRST, is a "National Retail Sales Tax", imposed only on the use or consumption of taxable property and services.

2) If the land in question is not in use for business purposes on the day prior to implementation of the act, (i.e. the NRST), it is residential and the sale of it cannot be taxed by the NRST act as it is defined as used property not subject to the NRST.

 

`Section 2(a)(16) USED PROPERTY- The term `used property' means--

`(A) property on which the tax imposed by section 101 has been collected and for which no credit has been allowed under section 203, and

`(B) property that was held other than for a business purpose (as defined in section 102(b)) on December 31, 2004.

Thus residential land, is not taxed under the NRST

The most that can be taxed under the NRST HR25, as regards residential property, is the sale of a new construction house. And once taxed by the NRST, that cannot be taxed again in future resales of the same house or property it sits on.

Refer: definitions and implementation of the sales tax sections in:

H.R.25, S.1493
SPONSOR: Rep Linder, John
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.