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The Taxman Cometh to Online..

IGBT

IGBT

Lifer
Text

Selling online? Think you may never have to charge a sales tax?

Think again.

State governments, tired of seeing an estimated $15 billion in revenue go uncollected, are organizing themselves. And that doesn't bode well for companies selling goods over the Internet.

The latest salvo came last week when the Council of State Taxation (also known as COST, cute, no?), state legislators and some retailers agreed on the outlines of a plan they hope will start them on the path to collecting sales taxes on online transactions.


Why has time run out? Well, the money moving around online has gotten too big. And state governments?strapped for cash?are looking for help paying their bills. With more than $60 billion in sales taking place on the Net, it's no wonder they're looking online. In some respects, they're just joining the crowd.
 
Originally posted by: IGBT
Text

Selling online? Think you may never have to charge a sales tax?

Think again.

State governments, tired of seeing an estimated $15 billion in revenue go uncollected, are organizing themselves. And that doesn't bode well for companies selling goods over the Internet.

The latest salvo came last week when the Council of State Taxation (also known as COST, cute, no?), state legislators and some retailers agreed on the outlines of a plan they hope will start them on the path to collecting sales taxes on online transactions.


Why has time run out? Well, the money moving around online has gotten too big. And state governments?strapped for cash?are looking for help paying their bills. With more than $60 billion in sales taking place on the Net, it's no wonder they're looking online. In some respects, they're just joining the crowd.
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they already did it with cigarettes...I wouldn't be surprised to see this gain speed real soon.
 
..the infrastructure is in place..all that's needed is legislation and a deadline for collection to start.
 
Its gonna be tough to enforce.

If you charge sales tax on Joe Blow for putting his wife's old rocking chair up on ebay then whats to stop you from taxing him if he sells it in a garage sale?

The only reason they can do this is because there are records of all the transactions in online sales.
 
Why does government always think raising taxes will solve their budget problems? I think online sales tax will kill online sales. In-state sale + tax < Out of state sale + tax + shipping.
 
Originally posted by: Nik
Right, and the post office is going to be charging ePostage for email.

Right.
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You know very well that the post office cannot charge for e-mail.

But it IS possible for the government to tax purchases.
 
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