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US Supreme Court says states can collect online sales tax

2018-06-22 16:46 by

 

The Supreme Court changed the landscape of online shopping Thursday, freeing state governments to compel retailers beyond their borders to collect sales-tax revenue from consumers and giving a boost to brick-and-mortar stores.

The decision will have a huge impact on American ecommerce, with large companies required to calculate, charge and hand over billions of dollars through dozens of different taxes.

The losers could be large online retailers that had dodged collecting the taxes — Overstock, Wayfair and Newegg were parties to the suit. Also hit could be small companies that say they are ill equipped to comply with the requirements of more than 10,000 taxing jurisdictions across the country.

Forty-five states currently levy sales taxes. But before the high court's ruling on Thursday, online retailers could not be forced to collect sales taxes in states where they did not have a "physical presence."

Many states have complained about tax-free online sales and will likely jump at the chance to collect taxes from e-commerce sites that have been able to avoid them so far.

Read more -here-

 

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