Local tax collector ruins children’s entrepreneurship event
Aug 31, 2019 0:55:04 GMT
allene likes this
Post by Leon on Aug 31, 2019 0:55:04 GMT
Every summer, a Utah non-profit agency called the Libertas Institute holds an entrepreneurship event for children.
It’s a wonderful idea– children as young as 5 gather together in a marketplace to buy and sell products and services that they’ve created to one another.
And parents are strongly encouraged to step back and let their kids be in charge– advertise, negotiate, count money, and make the sale. So it really is children doing business with other children. Obviously no one is getting rich from this; the larger point is to start cultivating the desire within the next generation to build and grow their own companies.
The Libertas Institute held one such event at Spanish Fork, Utah a few weeks ago on August 7. And for the first time since they’ve been holding these, the local tax collectors showed up, demanding that the kids pay city sales tax on the day’s transactions.
Moreover, the tax collectors insisted that even kids who didn’t make a single sale that day should still file tax forms with the state government.
Click here for the full story.
It’s a wonderful idea– children as young as 5 gather together in a marketplace to buy and sell products and services that they’ve created to one another.
And parents are strongly encouraged to step back and let their kids be in charge– advertise, negotiate, count money, and make the sale. So it really is children doing business with other children. Obviously no one is getting rich from this; the larger point is to start cultivating the desire within the next generation to build and grow their own companies.
The Libertas Institute held one such event at Spanish Fork, Utah a few weeks ago on August 7. And for the first time since they’ve been holding these, the local tax collectors showed up, demanding that the kids pay city sales tax on the day’s transactions.
Moreover, the tax collectors insisted that even kids who didn’t make a single sale that day should still file tax forms with the state government.
Click here for the full story.
