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To: Turbopilot
No. Why wouldn’t I owe the FairTax in the first place?
I'm talking about purchases for your business.
35 posted on 06/18/2007 7:13:51 AM PDT by Your Nightmare
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To: Your Nightmare
Oh, OK. No, I wasn't specifically aware of the method by which business purchases at retail would get their taxes refunded. It sounds like basically the same process I have to do every month anyway to match up my receipts with my company credit card statement - just a matter of taking what I already do and mailing a copy in somewhere.

Actually, you could probably make it even more efficient - for example, issue magnetic-strip cards (like a credit card) with whatever information identifies your business. When purchases are made for business, that card gets swiped (or the number gets entered) right after the credit card is swiped, or a check written, or whatever, and the FairTax is not collected. There's already some similar method for tax-exempt organizations to avoid paying state sales tax when buying at retail.

In any event, it's not like doing it manually is a big deal. Once we get the FairTax passed, we can worry about streamlining the details.

36 posted on 06/18/2007 7:56:37 AM PDT by Turbopilot (iumop ap!sdn w,I 'aw dlaH)
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