Governor, Finance chair do not support internet sales tax

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"Now everybody is going to be collecting sales tax whether you order from Amazon or anywhere online".

Those pennies on the dollar add up, particularly in a state like Florida, which has no state income tax and relies so heavily on the sales tax for revenue.

The 5-4 ruling is widely seen as a victory for brick-and-mortar stores, which previously said online retailers' ability to avoid sales-tax collection gave them an advantage. 2514), which provides that a seller is considered to be doing business in the State and subject to our General Excise Tax if the seller has $100,000 in sales or more than 200 transactions in the current or immediately preceding taxable year. They pay property tax. Get ready to pay a little more.

Nevertheless, there will be a mad scramble by the 45 states that have sales taxes to try to collect sales taxes from out-of-state retailers. Oklahoma could also see a sizeable 2.7 percent gain, Barclays found. Forty five of the 50 states impose sales taxes. Our reading of the ruling is that the case now returns to the South Dakota Supreme Court to evaluate the case on its merits, unfettered by the now antiquated physical nexus standard defined by Bellas Hess (1967) and upheld in Quill (1992). "Today's Supreme Court decision is an important and overdue update to our system", Herbert spokesman Paul Edwards said in a statement to FOX 13.

However, the path is not clear.

The battle may not be entirely over, Kennedy noted, as the law could face legal challenges on other grounds.

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".

But using the compliance services won't be without complications, says Jamie Yesnowitz, an accountant specializing in state and local taxes with the firm Grant Thornton.

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The Supreme Court ruled Thursday in South Dakota's favor after the state sued several online retailers in 2016 based on a separate law seeking to get them to collect the tax.

That led (AMZN.O) to start collecting taxes on its entire platform, including third-party merchants, in Washington starting in January.

Buying stuff online is an easy option that sometimes comes with an extra discount: no sales tax.

Minnesota and Rhode Island passed similar "marketplace laws" a year ago.

"For years, this situation has resulted in substantial loss of revenue to states, thus increasing the tax burden on those who do pay the taxes they owe", said Bill Waltz, vice president of taxation and public finance for the Chamber.

Georgia state officials have been pushing for more internet retailers to pay taxes in recent years. Now the legislature should consider going back into session to broaden that law and "eliminate the disadvantage retailers with physical locations in CT have long struggled to overcome", said Senate Republican President Pro Tempore Len Fasano.

The CEO of Jeffers said that the software required for this new law is not cheap.