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Apr 21 2009

Internet… Sales Tax?!?

Published by vinnievegas at 5:26 am under Economy Edit This

According to Yahoo, a bipartisan duo in congress is set to introduce a bill that would put a national sales tax on all internet and mail order sales. Apparently there has been a law on the books since the internet burst onto the scene to prevent exclusively taxing internet sales so that the fledgling medium could grow. However, it’s not really a fledgling anymore and state governments are desperate for funding so this is looking more and more like it will happen.

Internet Sales Tax

The loophole in the law says that it can’t be an exclusive sales tax, but they’re getting around that by taxing mail order businesses as well. You can read the rest of the details through that link.

I personally don’t see a problem with taxing internet and mail order sales, they’ve had a free ride for a long time but it’s going to be a logistical nightmare for retailers and ebay sellers alike. Hopefully they have a good plan to implement that or it’s really going to curb sales for them. People don’t want a big hassle which is the point of buying on the internet in the first place! We’ll see how far this bill gets, hopefully it will die in the House.

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