For California, entrepreneurs just starting out who plan on using the Internet to sell products, might want to keep an eye on the Marketplace Fairness Act. The U.S. Senate just passed the legislation on Monday, May 6, 2013, and now it heads to the House. According to a spokesman for the White House, the legislation has the support of President Obama.
The Marketplace Fairness Act would change the way online retailers handle the issue of sales tax on goods they sell over the Internet. Up until now, consumers have typically not had to pay sales tax on items they bought online. This is because the older laws only required retailers to collect sales tax if they shipped an item they sold to a state where the retailer had a physical address, such as a store or warehouse.
The reason why the older laws haven't changed before is because it would have been too complicated to keep track of all the different laws in the various states. There are five states that do not have a sales tax, but for the other 45 states, trying to keep track of the various tax rates for different items was seen as a burdensome task.
With the latest computer software, though, that task is no longer considered a burden. In fact, advocates for the task say collecting sales tax will be easily automated, although state governments that want to participate will need to provide business owners with free software to do so. In addition, each state will need a revenue department created specifically to receive the sales tax payments.
Opponents to the tax say that it will hurt businesses who solely conduct business online. Some want exemptions for companies with out-of-state revenues of less than $10 million annually or fewer than 50 employees.
Should the legislation become law, the earliest states could begin compelling businesses to collect sales tax on online sales is October 1, 2013.
Source:? 5newsonline.com, "Internet Sales Tax: What You'll Pay and When" No author given, May. 07, 2013
Source: http://www.kermitdmarshlaw.com/blog/2013/05/senate-passes-internet-sales-tax-legislation.shtml
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