Online sellers consider how to comply with sales tax ruling

24 June, 2018, 23:47 | Author: Teresa Adams
  • Supreme Court closes online sales tax loophole

"The old physical presence rule created these pockets where businesses were structuring and locating in states where they didn't have a lot of sales so they could sell online and sell across the border, not having to collect sales tax", North Dakota Tax Commissioner Ryan Rauschenberger said. They had resulted in some companies not collecting sales tax on every online purchase.

The ruling means states can force people who purchase goods online to pay sales tax.

You'll have to pay up if the state you live in passes laws that require online retailers to collect sales tax, says Joseph Bishop-Henchman, the executive vice-president of the Tax Foundation. The estimates of the amount of sales tax lost to sellers outside of a jurisdiction is from $8 billion to $33 a year according to the Supreme Court decision.

The General Accountability Office estimates that states could have taken in $13.4 billion more in revenues a year ago with an online sales tax.

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The Retail Industry Leaders Association, another trade group, said the ruling allows retailers to compete "without government's thumb on the scale" and called it "a win for all those who believe in free markets". Small and medium size businesses are most negatively impacted These business are faced with a huge problem because compliance is complicated. In criticizing Amazon and its founder, Jeff Bezos, who also owns The Washington Post, Trump said Amazon did not collect sales taxes.

This law affects IL shoppers that check out of shopping sites without paying sales tax, and the sites are now required to add them.

While online shoppers will surely groan about paying more sales tax, Washington County Finance Director Mitch Meredith said 100 percent of those dollars, at least in Washington County, will go toward education.

Second, Hawaii is not a member of the Streamlined Sales Tax Agreement and can not be a member unless its laws are amended significantly. "With our state's growing economy, I don't want to reach into West Virginians' pockets when we don't need to", he said. IL residents are required to pay state sales tax if the site doesn't add it. Oklahoma has benefited to the tune of about $25.9 million, he said, while OKC has seen an increase of $4 million and Moore has netted about $320,344 in additional taxes. If you have a million residents buying stuff online, you're not going to chase a million people.

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"It really is a disadvantage to local brick and mortar stores". The ruling clears the way for states, including MA, to collect an estimated $13 billion or more in extra taxes every year.

Meanwhile, the biggest players like Amazon have had little choice but to establish true physical presences (warehouses and such) and start collecting tax in all or virtually all states.

In Oklahoma and in Norman, the biggest online retailer, Amazon, was already voluntarily remitting sales tax which comes to the city from the Oklahoma Tax Commission as a use tax.

While almost impossible to determine how much revenue Johnson City or Washington County loses to online sales, state officials estimate Tennessee loses between $200 million and $450 million annually.

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