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July 30th, 2012

Online Sales Tax is Coming!

Last week some governors have dropped opposition to a federal law allowing collections on sales tax on items bought online from a company that does not have a presence in the purchaser’s state.   States figure that they are losing more than $20 billion a year according to estimates by Streamlined Sales Tax, a Nashville-based advocacy group. Almost two dozen states could have collections up and running within 90 days of a federal law change.  If the law changes, it will end a controversy bedeviling federal courts since the 1930s.

Summary by Nicholas Shearer, CREDC Intern

Source article from The Wall Street Journal


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