Historically, the internet has been untaxable at the state and local levels, barring the seller having some kind of physical presence in the state of the buyer. The Supreme Court set forth this rule in 1992, as requiring otherwise would have been an undue burden on interstate commerce. With the rise of the internet, and sites such as Amazon, the inability to tax these sales has meant that states and municipalities have lost out on a potential lucrative source of revenue. In this blog post, Bill Galkin explains how states are seeking to get around the "physical presence" requirement, and outlines what might be in store for your small business as a result of this determination to tax online sales.
- Summary by FizzLaw Team
Read the Article at:
The Amazon Tax: Coming soon to a state near you