Hearing on Online Sales Tax
2022-08-09T22:00:45-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNTM2XC8yMDIyMDYxNDEwMDQxODAxNF9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Small business owners and tax professionals testified before the Senate Finance Committee on the challenges of businesses collecting sales taxes for out-of-state purchases. Witnesses spoke at length about the high economic costs on small businesses in paying for resources to figure out and comply with states' various tax regulations. They also proposed solutions for lessening burdens for small businesses, such as uniform laws across states. This hearing is a result of the 2018 Supreme Court decision, South Dakota v. Wayfair, which ruled that businesses without a physical presence in a state are still responsible in collecting sales taxes for the state. Technological changes, such as more revenue generated from online sales, was a factor in the Court’s decision.
Small business owners and tax professionals testified before the Senate Finance Committee on the challenges of businesses collecting sales taxes… read more
Small business owners and tax professionals testified before the Senate Finance Committee on the challenges of businesses collecting sales taxes for out-of-state purchases. Witnesses spoke at length about the high economic costs on small businesses in paying for resources to figure out and comply with states' various tax regulations. They also proposed solutions for lessening burdens for small businesses, such as uniform laws across states. This hearing is a result of the 2018 Supreme Court decision, South Dakota v. Wayfair, which ruled that businesses without a physical presence in a state are still responsible in collecting sales taxes for the state. Technological changes, such as more revenue generated from online sales, was a factor in the Court’s decision. close
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