Colorado Can Force Vendors To Rat Out Residents On Use Tax
So the deal now for Coloradans is that if the vendor they order from does not charge them sales tax, they will be reminded of their use tax obligation and, if they spend above the threshold, ratted out to the state tax authorities. I’m thinking that the rule might inspire some vendors to voluntarily collect sales tax (Some already do). Reilly’s Second Law of Tax Planning – Sometimes it is better to just pay the taxes. With the Tenth Circuit ruling, we might expect other states to enact similar statutes.
Sanders Tax Plan Harder On Millionaires Than Billionaires
So mere millionaires will find themselves facing a real dilemma. They can accumulate at a favorable rate, but someday they figure they will have to liquidate. You will find that a lot of people end up borrowing from their closely held corporations, which as long as low interest rates persist and the formalities are observed will work, kind of. And of course, you can have the C corporation buy a corporate retreat and a plane if you are really getting up there, but there are limits to that sort of stuff.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.