Senate passes nationwide online sales tax bill

Senate passes nationwide online sales tax bill

The US Senate has approved a bill that could one day spell the end of sales tax-free online purchases. The Marketplace Fairness Act of 2013, which the Senate symbolically supported earlier this year and has now passed by a margin of 69 to 27, will give states the authority to collect sales tax from online storefronts, regardless of whether the sellers have a physical presence in the state. Technically, citizens are supposed to estimate and pay internet sales tax on their annual returns, but this is rarely done, leading states to eye Amazon or other sellers as a prime source of uncollected tax revenue. This bill is a centralized effort to address something states have been working on for years, coming at a time when the online market is… Continue reading…

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Senate passes nationwide online sales tax bill

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