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The fight over online sales tax and how it impacts you
For over 20 years, the internet has made purchases easier than ever in human history. With one-click buying and free-shipping programs, people have flocked online to buy nearly a quarter of a trillion dollars of stuff per year. Many of those transactions happen without the burden of sales tax, making online shopping not just convenient, but also cost-efficient. That may all be about to change.
US Senate passes internet sales tax bill, faces a stiff fight in House
The debate over taxing out-of-state online sales in the US has been raging for years, but there are signs that the often messy saga is finally winding to a close... well, maybe. The Senate just voted 69-27 in favor of the Marketplace Fairness Act, a bill that would make internet retailers collect out-of-state sales taxes that Americans are already obligated to pay, but rarely do under a current system that puts the onus on (frequently unaware) buyers. Don't be too hasty in cheering or jeering the apparent conclusion, however. The bill's next stop is the House of Representatives, and the reception may be decidedly colder this time around. The act could be submitted to the President this year if it does survive the gauntlet, although a six-month buffer would likely push any tax changes to 2014 if the bill is ever signed into law. [Image credit: Scrumshus, Wikipedia]
