So, KEEP your personal reciepts, you may need them! In the context of the ENTIRE bill, my understanding is correct.
For large ticket items your absolutely right, it certainly behooves one to keep their receipts to protect their purchases from numerous possible problems, not to mention warranty as well as tax considerations if you wish to sell them, don't you already?
However, as far as sales tax collection is concerned there must be a probable cause for the state tax authorities to even get to the point of inquiring about prior payment of tax under the provisions of presumption of innocence and lawful behaviour in the Principles of Interpretation as pointed out in #416.
Just as today state sales tax agencies are not running around rifling peoples pockets and shoeboxes for receipts even for that car you bought or sold last year, you won't find them doing so under the NRST. That is unless you start acting like alot like a business, then probable cause crops up and yep you better be able to account for those items that aren't obviously out of someone's garage sale, or last years dinged up widgets in the flea market.
Engage in retail sales, expect to be open for questions as to sales license or proof you already paid tax on it, thats the way it is in my state anyway.
Really??????? Where does it say that in the bill? The actual bill says just the opposite!
`(b) Examinations and Audits- The sales tax administering authority has the authority to conduct at a reasonable time and place examinations and audits of persons who are or may be liable to collect and remit tax imposed by this subtitle and to examine the books, papers, records, or other data of such persons which may be relevant or material to the determination of tax due.