Internet Taxes
As some of you may have known, the moritorium on internet taxes by state and local
governments is set to expire in about 3 weeks. A change like that could dramatically
impact sales on the internet as well as of course local state tax revenues. A few senators have just
filed a motion to extend the tax-free situation on internet sales for another two
years though (yay). Apparently a big problem is the state tax system is just too complex
(imagine that!)
Under a 1992 Supreme Court decision, states cannot require out-of-state retailers such as catalog companies to collect sales taxes unless they have a physical presence in the state.
Generally speaking, I get stuff online because it's cheaper... but you throw taxes in there and internet vendors are gonna have a much tougher time competing with prices. Then what?
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