Breaking: Supreme Court Rules States Can Tax All Internet Sales

Breaking: Supreme Court Rules States Can Tax All Internet Sales

6 years ago
Anonymous $cyhBy-qkd5

https://wccftech.com/breaking-supreme-court-rules-states-can-tax-all-internet-sales/

Today the U.S. Supreme Court ruled 5-4 to reverse a 1992 ruling that mandated states could only tax e-commerce if the retailer in question has a physical presence in the state. So if popular computer hardware vendor, Newegg, did not have a warehouse or hub in your state, you could buy a video card and pay only for the product and shipping costs.

All that is soon to change as today’s landmark reversal gives states the authority to start demanding their fair share of internet sales tax. The Federal Government estimates this to be as much as $13 billion annually. For instance, South Dakota is hoping to collect as much as $50 million per year which is still fairly noticeable for a state that only collects $1.5B in total revenue per year. A nice 3% boost to a state’s budget can do a lot of good if used wisely..

Breaking: Supreme Court Rules States Can Tax All Internet Sales

Jun 21, 2018, 9:22pm UTC
https://wccftech.com/breaking-supreme-court-rules-states-can-tax-all-internet-sales/ > Today the U.S. Supreme Court ruled 5-4 to reverse a 1992 ruling that mandated states could only tax e-commerce if the retailer in question has a physical presence in the state. So if popular computer hardware vendor, Newegg, did not have a warehouse or hub in your state, you could buy a video card and pay only for the product and shipping costs. > All that is soon to change as today’s landmark reversal gives states the authority to start demanding their fair share of internet sales tax. The Federal Government estimates this to be as much as $13 billion annually. For instance, South Dakota is hoping to collect as much as $50 million per year which is still fairly noticeable for a state that only collects $1.5B in total revenue per year. A nice 3% boost to a state’s budget can do a lot of good if used wisely..