Archive for December 2006
 

The Fair Tax Act of 2005, Part XVI

December 29, 2006  ·  Category: Education
Continuing with the FCA, particularly some extraneous details about family size: `(c) Children Living Away From Home- `(1) STUDENTS LIVING AWAY FROM HOME- Any person ...
Posted by James Kidd  ·  31 Comments »

The Fair Tax Act of 2005, Part XV

December 28, 2006  ·  Category: Education
I am hoping this next section will generate some more comments, as it affects everyone and for some, is one of the most controversial segments of the bill, the Family Consumption Allowance. `SEC. 301. FAMILY CONSUMPTION ...
Posted by James Kidd  ·  7 Comments »

The Fair Tax Act of 2005, Part XIV

December 27, 2006  ·  Category: Education
Finishing up on credits and refunds here: `SEC. 207. REFUNDS. `(a) Registered Sellers- If a registered seller files a monthly tax report with an overpayment, then, upon application by the registered ...
Posted by James Kidd  ·  No Comments »

The Fair Tax Act of 2005, Part XIII

December 21, 2006  ·  Category: Education
Since I have little to do today, I'll kick in one extra portion of the bill: `SEC. 206. INSURANCE PROCEEDS CREDIT. `(a) In General- A person receiving a payment from an ...
Posted by James Kidd  ·  No Comments »

The Fair Tax Act of 2005, Part XII

December 21, 2006  ·  Category: Education
The next section covers bad debts: `(a) Financial Intermediation Services- Any person who has experienced a bad debt (other than unpaid invoices within the meaning of subsection (b)) shall ...
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The Fair Tax Act of 2005, Part XI

December 20, 2006  ·  Category: Education
Continuing on to Chapter 2, Credits and Refunds: `SEC. 202. BUSINESS USE CONVERSION CREDIT. `(a) In General- For purposes of section 201, a person's business use conversion credit for any month ...
Posted by James Kidd  ·  No Comments »

The Fair Tax Act of 2005, Part X

December 17, 2006  ·  Category: Education
Continuing on in our series now that I am back from a business trip: `SEC. 103. RULES RELATING TO COLLECTION AND REMITTANCE OF TAX. `(a) Liability for Collection and Remittance of ...
Posted by James Kidd  ·  5 Comments »

The Fair Tax Act of 2005, Part IX

December 11, 2006  ·  Category: Education
`SEC. 102. INTERMEDIATE AND EXPORT SALES. `(a) In General- For purposes of this subtitle-- `(1) BUSINESS AND EXPORT PURPOSES- ...
Posted by James Kidd  ·  2 Comments »

The Fair Tax Act of 2005 Part VIII

December 9, 2006  ·  Category: Education
Moving right along to the next section which details the imposition of the Sales Tax. `SEC. 101. IMPOSITION OF SALES TAX. `(a) In General- There is hereby imposed a tax on ...
Posted by James Kidd  ·  17 Comments »

The Fair Tax Act of 2005, Part VII

December 8, 2006  ·  Category: Education
The final set of definitions: `(15) UNITED STATES- The term `United States', when used in the geographical sense, means each of the 50 ...
Posted by James Kidd  ·  8 Comments »

The Fair Tax Act of 2005, Part VI

December 7, 2006  ·  Category: Education
Continuing on with some more definitions: `(13) TAX INCLUSIVE FAIR MARKET VALUE- The term `tax inclusive fair market value' means the fair market value of taxable property or services plus the tax imposed by this subtitle. This ...
Posted by James Kidd  ·  4 Comments »

The Fair Tax Act of 2005, Part V

December 6, 2006  ·  Category: Education
We continue with definitions from Sec. 2: `(9) REGISTERED SELLER- The term `registered seller' means a person registered pursuant to section 502. This is something we'll cover later, but essentially means any business that will collect sales ...
Posted by James Kidd  ·  4 Comments »

The Fair Tax Act of 2005, Part IV

December 2, 2006  ·  Category: Education
In this section we will cover about half of the definitions in SEC. 2. `SEC. 2. DEFINITIONS. `(a) In General- For purposes of this subtitle-- ...
Posted by James Kidd  ·  2 Comments »

The Fair Tax Act of 2005, Part III

December 1, 2006  ·  Category: Education
Let's start with section 201, which details the Sales Tax. SEC. 201. SALES TAX. (a) In General- The Internal Revenue Code of 2005 is amended by inserting before subtitle B (as ...
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