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If it is classified as a "sale" rather than financing, shouldn't the bank have to pay sales tax (which would amount to billions)?
by smallblacksun 17y ago
If it is classified as a "sale" rather than financing, shouldn't the bank have to pay sales tax (which would amount to billions)?
- byrneseyeview 17y agoThe rules are different for purely financial transactions. It doesn't make sense for someone to pay an 8% sales tax on buying a 90-day T-bill with a .14% yield.