The world of online shopping is slowly being overcome by the sales tax shadow, according to a report by USA Today.
Related: CEA Calls for National Policy for Sales Tax Collection
Currently, more than 12 states have enacted legislation that forces online retailers to collect sales tax – this does not include the 10 additional states where similar legislation is pending, according to CCH.
The momentum behind the movement can be attributed to numerous factors, chiefly the government’s budget/debt predicament as well as retail lobbying. The National Conference of State Legislatures has estimated that the lack of online taxation, on average, costs states $23 billion.
The movement is garnering support from various sources, including online retail heavyweight Amazon. Company spokesman Ty Rogers stated that the implementing the tax would be “the only way to level the playing field for all sellers and provide states the right to obtain more than a fraction of the revenue already owed.”
Click here to read the complete article.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More