Supreme Court Calls Tax Petition Invalid

US-POLITICS-SUPREME COURT

US-POLITICS-SUPREME COURT

The high court ruled in 1967 and again in 1992 that companies without a physical presence in a state did not have to collect sales taxes. B&H doesn't require that buyers pay sales tax if they place orders outside of NY or New Jersey, and while you're supposed to later pay those uncollected funds when tax time comes around, the vast majority of people don't.

The case decided was South Dakota v. Wayfair; South Dakota was suing Wayfair, an e-commerce retailer that does not collect state taxes. But for 65 percent of them, online sales accounted for 5 percent or less of their revenue. "New York's a big one for me as well". Airbnb has been collecting sales and resort taxes for more than two years. They pay property tax. When Amazon opens a fulfillment center in a state, it starts collecting sales tax, noted the report. Those retailers may face headaches complying with various state sales tax laws, though there are software options to help.

"Not only that, but those local merchants are the ones who make contributions to the Red Cross, to Little League baseball, the Girl Scouts and all of those contributions that really make a community".

Major online retailers' stock prices dropped.

Sellers that use eBay and Etsy, which provide platforms for smaller sellers, also haven't been collecting sales tax nationwide. Even Amazon fell as much as 1.9 percent even though it may eventually benefit from the decision. This was due to 50 years' worth of legal rulings which prevented states from charging sales tax on purchases made from out-of-state retailers.

The House hasn't taken up the measure, however, and legislative leaders say they won't have time to finish work on it by the end of the General Assembly's session next week.

"We are a revenue neutral legislature". I don't think it ever went into effect because we were waiting to see (the Supreme Court ruling).

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The ruling means some states can expand their tax collection systems, but it will take months to get systems up and running, Behlke said.

"As in so many other areas, technology has evolved faster than the law and left us with at times freaky, unfair results", she said.

Another question for states to consider will be whether to push to collect tax on previous transactions. Bob Krist, the Democratic candidate for governor, said Ricketts' actions delayed the state from getting needed revenue.

The Quill ruling had required businesses to collect state sales taxes only from residents of states where the business had a physical presence.

"Naturally, in a more rural area like Northeast Tennessee and specifically Washington County, we get a smaller share than the more dense, heavily populated areas", Grandy said. "I do California, Illinois, several of the Midwest states".

Tax lawyers including Richard Jones, a tax partner at Sullivan and Worcester in Boston, said they interpreted the decision as meaning sales tax could be applied retroactively -- perhaps on sales as far back as 10 years.

"We are talking about middle-market businesses that have a CFO and maybe no tax department and that rely on an accounting firm to be their tax department", RSM's Kirkell said.

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