Senate Offers Preliminary Support For Internet Sales Tax

U.S. Senators voted 75-24 on a nonbinding measure that would give states more power to collect sales tax on online purchases made by their residents on out-of-state goods, reports the Associated Press.

It’s estimated that as much as $20 billion a year in sales tax is uncollected due to existing online purchasing laws. Companies that sell less than $1 million in goods per year would be exempt from such taxes.

Read the full story here.

Click to comment