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There May be No Easy Resolution for Internet Sales Tax, but it is been Worked out to Be Fair and Square
Surely you have heard of the Marketplace Fairness Act? It is a proposed pending legislation to United States Congress which would enable state governments to collect sales taxes and use taxes from remote retailers without being physically present in the state.
Talk about the great equalizer? Collecting sales tax for ‘out of state’ purchases have been in conversation since 1992. It has been reported that lack of sales tax on internet purchases decrease the ability of state and local tax bases and also decrease sales for local businesses that charge sales tax. Legislations like Marketplace Fairness Acthave been attempting to correct this loophole.
The cost of sophistication of collecting sales tax poses a huge burden. There are many states that don’t have sales tax, and many tax exemptions exist on certain items. To lessen the cost and expertise, the legislation requires offering free tax compliance software.
Expert speaker Brent Meyers will prepare attendees of this session for what is currently being discussed and what should be coming soon. The better prepared you are for any changes the better you can deal with the outcome.
Brent Meyers has extensive knowledge of the accounts payable process in today’s business environment. He is responsible for business development and commercial card services within the Midwest Territory. He specializes in Automated Accounts Payable, regulation compliance, and expen...
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.