Depending on the state, you file a Department of Revenue Sales and Use Tax Certificate of Exemption with your vendors, and you file your Sales and Use tax forms along with your payment of taxes due.
One thing the Fair Use tax will have to do, not covered in the book IIRC, is make collection more fluid. Collecting 23% of retail price and holding it for a month or a quarter in your own business account is not what the government is going to want for you to do with its money. Dip into it and you're going to Leavenworth. Respectfully, Adam Phillip Churvis President Productivity Enhancement > -----Original Message----- > From: Cameron Childress [mailto:[EMAIL PROTECTED] > Sent: Monday, January 28, 2008 11:07 AM > To: CF-Community > Subject: Re: CF-Community Presidential Poll > > Adam Churvis wrote: > > I don't remember if they cover this in the book; I'm just going from > the > > current definitions of things as they stand now. > > > > The reason why I applied it to a Fair Tax scenario is because the > need for > > such classification and corresponding collection of that class of > taxes > > would obviously still exist. > > I've never run a retail business so I really have no idea how taxable > retail goods are tracked. Is it based on the COGS on your books or do > you have to give your fed tax id when you buy from a wholesaler? Some > other way? > > -Cameron > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;160198600;22374440;w Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:252177 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
