Many of you heard the Senate passed the bill for sales tax on internet purchases. The bill now hits the House for an uphill battle with key members indicating they are not in a hurry. The House Judiciary Committee has jurisdiction over matter affecting state taxes and they will be taking their time with this matter. The word from House Members is they consider the exemption for small retailers on the Web to be too low and they want rules for sellers in states without sales taxes to be less stringent.
The proposed bill says the earliest collection could begin the first quarter that occurs six months after the bill is enacted. This tells us no purchases during 2013 will be affected. Stay tuned for updates as information becomes available.
- Getting ready for an Internet sales tax (cnn.com)
- Senate passes bill allowing states to tax online sales (nbcnews.com)
- The Senate Looks Poised To Pass New Internet Sales Tax (businessinsider.com)