businessbrief.com/salesmarketingupdate » Internet sales tax about to become a reality

Internet sales tax about to become a reality

August 21, 2012 by Christian Schappel
Posted in: In this week's e-newsletter - Sales & Marketing, Industry Spotlight - Sales & Marketing, Latest News & Views - Sales & Marketing, online marketing

It looks inevitable now: Businesses will have to collect sales tax online.

The House Judiciary Committee just held a hearing on the Marketplace Equity Act, which would let states require online merchants doing business in their state to collect sales tax.

Lawmakers, business groups in favor

Although it isn’t likely to be passed with the presidential election drawing near, most major business groups seem on board with it. So it’s coming.

Those in favor of the main concepts of the bill include the Direct Marketing Association, National Retail Federation and Electronic Retailers Association.

There’s just one hang-up: Logistics.

Most of the groups supporting the concept of an online sales tax say it won’t be easy for businesses to collect for the roughly 9,600 tax jurisdictions.

The True Simplification Trust Coalition, for example, is proposing every state charge the same sales tax rate for online purchases.

Lawmakers say an online sales tax could generate $20 billion for states.

Share
Trends, Tips & Resources to Increase Revenue
Get the latest sales & marketing news and insights you need to make smarter business decisions - delivered weekly.

Join over 929,000:

privacy policy

Tags: ,



advertisement

Stock Quotes

INDUN/A  chartN/A
NASDAQ6629.0532  chart+23.9863
S&P 5002575.21  chart+13.11
MSFT78.81  chart+0.90
GE23.83  chart+0.25
IBM162.07  chart+1.17
INTC40.43  chart+0.34
1970-01-01 00:00

Whitepapers


advertisement