Senate to debate whether online retailers must collect sales tax
The Senate could soon decide whether consumers will have to shell out taxes on more of their online purchases.
The U.S. Senate Committee on Commerce, Science, and Transportation is scheduled to hold a hearing today to examine the current policy that exempts many online retailers from collecting sales tax. The present ruling is based on a 1992 Supreme Court decision, which found that businesses without a physical presence in a state are not required to collect state sales tax.
But up for debate this afternoon is the Marketplace Fairness Act (PDF), which would reverse the Supreme Court decision. Senators … Read more