Thursday, May 30th, 2013
We’ve heard from a number of retailers using Yahoo! Merchant Solutions regarding the Marketplace Fairness Act, proposed legislation currently moving through Congress. If this legislation becomes law, it will affect a certain number of you — specifically those of you who sell more than $1 million in goods and services out-of-state annually.
We wanted to take an opportunity to share a brief summary of current U.S. law, as well as a summary of the proposed legislation. We want to help merchants stay on top of the latest information, as it may have an impact on their online business.
Some states impose a sales tax, some states do not. This proposed legislation would not change that. Under current law, states can require businesses with a physical presence in the state to collect sales taxes from their customers. In addition, online shoppers in 45 states are required to report the sales taxes they owe on their Internet purchases to their state tax department. The proposed legislation would change the way these taxes are collected [...]
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