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States to collect Online Taxes
Posted: Thu Jun 21, 2018 3:15 pm
by _moksha
Reuters - Thursday, June 21, 2018
The Supremes, in a 5-4 ruling against Wayfair Inc (W.N), Overstock.com Inc (OSTK.O) and Newegg Inc, overturned a 1992 Supreme Court precedent that had barred states from requiring businesses with no "physical presence" in that state, like out-of-state online retailers, to collect sales taxes.
Not Newegg! That is heresy. Bad things happen with Trump.
Re: States to collect Online Taxes
Posted: Thu Jun 21, 2018 4:24 pm
by _MeDotOrg
When internet commerce was a fledgling industry the decision was made not to collect taxes. In my opinion, internet commerce does not need a tax break anymore, so I actually agree with this one. Make the internet play on the same field as brick and mortar stores.
Re: States to collect Online Taxes
Posted: Thu Jun 21, 2018 4:36 pm
by _Xenophon
MeDotOrg wrote:When internet commerce was a fledgling industry the decision was made not to collect taxes. In my opinion, internet commerce does not need a tax break anymore, so I actually agree with this one. Make the internet play on the same field as brick and mortar stores.
I think I'll support this as long as legislation that is drafted by the states (or maybe federally if the Nation Retail Federation has their way) looks similar to South Dakota's. Mainly the $100,000 break point where they begin charging sales tax, a solid win for the state but also not prohibitive to small businesses or craftsmen selling their goods online.