I don't see it. Please cite the section in HR25 or quote it.
Why don't you just admit that business will need to submit documentation for the NRST?
I have never denied that retail businesses need to submit forms for retail sales tax. For the NRST, the incremental increase over state sales tax reporting requirements already in existence is nil.
Your statment however was:
They want you to compile and file monthly tax returns! You think the IRS takes a lot of your time -- you ain't seen nothing until you look at what the NRST people want you to do.
I don't see supporting that hyperbole as a reasonable contribution to this debate, and quite frankly a misrepresentation of reality. Especially seeing as all businesses, including retail vendors, are relieved of federal income tax returns and associated schedules that go with them which amount, in some cases, literally hundreds of pages of documentation in a single return filed with the IRS.
>>>There is a deminimus dollar amount of sales that one must meet to be a certified
>>> business required to collect and remit taxes under the HR25.
I don't see it. Please cite the section in HR25 or quote it.
Actually two sections are applicable, the first requires the person to pay taxes on goods and services purchased in support of the activity:
As under Section 701, teenage mowing of lawns for spending money it is classifiable as a Hobby and not a business, if the enterprise is determined not-for-profit, (i.e. wages/salary received, taxable property or services purchased and any taxes paid exceed total reciepts).
The second sets the De Minimus level of sales receipts on which a person would not be subject to collecting, reporting and remitting NRST:
Under Section 901, $1, 200 of sales receipts are exempt on casual sales of taxable property or services in a calendar year.
H.R.25Fair Tax Act of 2005 (Introduced in House) SEC. 701. HOBBY ACTIVITIES.
`SEC. 901. ADDITIONAL MATTERS.
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It's under "SEC. 901. ADDITIONAL MATTERS." It is phrased as sales by an individual so that the individual becomes not a business under the clause if:
"`(b) De Minimis Payments- Up to $400 of gross payments per calendar year shall be exempt from the tax imposed by section 101 if--
`(1) made by a person not in connection with a trade or business at any time during such calendar year prior to making said gross payments, and
`(2) made to purchase any taxable property or service which is imported into the United States by such person for use or consumption by such person in the United States.
`(c) De Minimis Sales- Up to $1,200 per calendar year of gross payments shall be exempt from the tax imposed by section 101 if received--
`(1) by a person not in connection with a trade or business during such calendar year prior to the receipt of said gross payments; and
`(2) in connection with a casual or isolated sale."
If beyond these parameters, the "person" becomes a "business" for tax purposes.