An Internet sales tax is inching its way closer to being the law of the land: The U.S. Senate supported a non-binding vote of approval, 75-to-24, for a law that would allow states to collect taxes from Internet retailers. If enacted as is, it would allow states to levy taxes on some online retail purchases from businesses with over $1 million in gross receipts.
There are some exceptions: Amazon currently charges California residents sales tax, and will soon charge residents of Massachusetts and Connecticut,?after new offices and acquisitions gave it a significant presence in those states.
An equally self-interested set of lobbies, such as the National Retail Federation, representing the big box likes of OfficeMax, Macy?s, And Saks, argue that an Internet sales tax ban gives online retailers an unfair advantage and deprives states of billions in revenue.
This is just wrong! What our economy needs right now is for the market to be flooded with consumer confidence. Businesses of all shapes and sizes, online or offline needs customers to feel confident and start purchasing again. I am very much opposed to an internet sales tax because businesses who market primarily online will definitely take a hit. What do you think about an internet sales tax? Seems to be the government when provided with new revenue just finds some other way to mismanage it.
See full story on techcrunch.com
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