Online shopping once again in the tax legislation crosshairs
In many ways it was inevitable. With consumers stepping up their shopping through online and mobile means, it was only a matter of time until brick & mortar retailers once again claimed foul on the tax disparity. While this is new online sales tax legislation draft continues the dialog of the past decade, the larger question in our minds is what happens to tax receipts as even more brick & mortar stores shut locations and shift their business model increasingly online?
Various forms of online sales tax legislation have been introduced in Congress over the past 15 years but none have won passage. And now there is a new proposal.
The new draft online sales tax legislation was released Thursday by House Judiciary Committee Chairman Robert Goodlatte. His proposal, The Online Sales Tax Simplification Act of 2016, is aimed at addressing disparity in sales tax collection obligations between Main Street retailers and online-only retailers. It would allow states that take certain steps to require online sellers to collect sales tax.
Source: New online tax legislation proposed | Chain Store Age
