Wednesday, April 23, 2014

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Proposed Senate Bill To Require Retailers To Collect State, Local Taxes For Internet Purchases

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TWC News: Proposed Senate Bill To Require Retailers To Collect State, Local Taxes For Internet Purchases
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If you shop online, you may not be able to get your purchases tax free for much longer.

A bill making its way through the Senate would require online retailers to collect state and local taxes for Internet purchases.

The money would go to the state where the shopper lives.

The Senate voted 74-20 Monday to take up the measure and could potentially pass it as early as this week, but the bill could face an uphill battle in the House, where some Republicans see it as a tax increase.

Under current law, states can only collect sales tax from stores that have a physical presence in the state.

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