Loading ...Congress Considers The Marketplace Fairness Act
Federal legislation has been introduced intending to address the collection of sales and use taxes from consumers by out-of-state sellers for the states in which those consumers reside.
The Marketplace Fairness Act, introduced in the Senate as S. 336 and in the House as HR 684, reflects several states’ acceptance of the Streamlined Sales and Use Tax Agreement (SSUTA) in 2002. The SSUTA is essentially a multi-state agreement to simplify national sales tax laws by establishing a uniform system of administering and collecting sales tax on out-of-state retail transactions—these transactions alone add up to several trillion dollars. The SSUTA was approved in 2002 by a vote of representatives of 33 states and the District of Columbia. That number currently stands at 44 states.
Read more about the the Marketplace Fairness Act and the debate over the collection of sales and use taxes from consumers by out-of-state sellers in PPAI’s Washington Report. It is timely information that will help you become more aware and better prepared to advocate for your business, profession and industry.
One Response to Congress Considers The Marketplace Fairness Act
It will be interesting to see how this shakes out within each State, and then drilled down to the location where the company resides. If in a state, if 80% of the revenue is generated in one county, or area, does that mean that county or area gets 80% of the tax revenue? The sticky wick is not going to be what we all think of taxes, sooner or later the government(s) national and state will figure out a way to get taxes, just like they will figure out a way for 1099′s who have health insurance and are paid a draw, and whose employers are not paying taxes on them etc… sooner or later those types of taxes will be paid too. Maybe we will get lucky some day and have a flat tax for all, with no loopholes, yeah right……..