The nrst will help businessNot if you're a (Fairtaxable) service business or even a retail business.
The 23% fairtax rate is a income tax on the business gross, not a sales tax on the consumer.
Tally up your gross taxable receipts (AKA gross income), remit 23% to the feds...
Not a business tax?...HA!
snicker... why do you want to keep the income tax lewislyn?
Having the true cost of government on every store receipt instead of hidden in the price of goods would just be horrible. The people might just notice that their taxes are just too damned high.
You are talking a gross receipts tax where the burden is on the business. Not so, the Fair Tax is a sales tax where the payment is on the consumer.
Not quite.
If you're a RETAIL business then you remit 23% of gross receipts to the state sales tax authority and earn 1/4% of receipts for your trouble. Remember only retail is taxed - not business to business - only retail.
It's pretty easy to calculate 23% of gross - I think even you could do it lewis - lumber isn't retail so you wouldn't have to worry 'bout it. Even if you did, you would have no additional compliance costs and most likely less. No payroll dept or employee "contributions". And you'd earn 1/4% on remittance.
“” ‘NRST eliminates business taxes.
The nrst will help business’
Not if you’re a (Fairtaxable) service business or even a retail business.
The 23% fairtax rate is a income tax on the business gross, not a sales tax on the consumer.
Tally up your gross taxable receipts (AKA gross income), remit 23% to the feds...
Not a business tax?...HA! ‘’
And who do you get the income from, if not consumers???