|This week, the Senate passed the Marketplace Fairness Act, S.743, to enable states to require online sellers with more than $1 million in annual revenue to collect sales tax on transactions outside their borders. Under current law, sellers must have a physical presence in a state before the state can require retailers to collect sales taxes. |
Supporters of this bill believe that small businesses and brick-and-mortar stores are at a competitive disadvantage with online retailers, many of which do not have to collect sales taxes. As such, proponents say that this bill is needed to level the playing field by enabling the collection of a sales tax that is already due.
On the other hand, opponents of this bill argue that it would burden small businesses, forcing them to comply with state and local tax laws from around the nation. Additionally, they argue that the measure would violate state sovereignty, force businesses to be tax collectors for other states without benefitting them, and dissuade entrepreneurial and start-up businesses.
Question of the week: Do you believe that states should have the authority to require online sellers to collect sales tax from individuals living outside their borders?
( ) Yes.
( ) No.
( ) I don't know.
( ) Other.
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Find the results of last week's instaPoll here.
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