Stuart Stone
With regard to the whole currency thing...
Whenever any entity engages in commerce with the corporation, the corporation automatically acts as a currency exchange, converting FRNs (Fed Reserve Notes) into your corporate currency eg: Beverly Bucks...same way as when you go to the funfair & exchange FRNs for tickets/coupons...
The corporation is not accepting FRNs, it is exchanging them for its own domestic currency. It has not been 'paid' in FRNs, so is not liable for the tax (or other statutory rules) on FRNs...
The liability comes from ACCEPTING 'legal tender' (accepting a tender for law), not from your personal currency exchange/corporation disposing of FRNs...this was a principle discussed/described by Scott probably as far back as April this year.
Disposing of/spending FRNs has no liability attached, but ACCEPTING them as income/payment does.
If I can dredge through my notes & find the original comments, I'll post them on here...
Printed copy · Anthology Volume 5, page 1002
