To: Your Nightmare
BTW, I was wonder if you could clear something up for me. What exactly does this part of the law mean?:
It compensates for taxes embedded in business inventory held before the NRST takes effect. Inventories are is presumed to have been financed with a business' after tax dollars thus implicitly carry embedded taxes from the income/payroll tax system.
The credit is to provide compensation for those embedded taxes in business inventory existing prior to implementation of the NRST to reduce the potential for double taxation of inventories sold under the NRST.
26 posted on
05/28/2004 1:37:21 PM PDT by
ancient_geezer
(Equality, the French disease: Everyone is equal beneath the guillotine.)
To: ancient_geezer
It compensates for taxes embedded in business inventory held before the NRST takes effect. Inventories are is presumed to have been financed with a business' after tax dollars thus implicitly carry embedded taxes from the income/payroll tax system.
The credit is to provide compensation for those embedded taxes in business inventory existing prior to implementation of the NRST to reduce the potential for double taxation of inventories sold under the NRST.
How much is this credit going to cost?
To: ancient_geezer
Will my "after tax" dollars in my retirement savings be given similar favorable treatment?
161 posted on
05/30/2004 9:22:23 AM PDT by
GregoryFul
(who ya gonna call?)
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