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Sorry, Folks: Sales Tax Is Coming to a Website Near You

Image via <a href="http://20somethingfinance.com/internet-sales-tax/">20somethingfinance</a>
Image via 20somethingfinance

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One of the biggest advantages to shopping online—besides browsing in your underwear—has been that many e-tailers haven't had to collect state sales tax. A loophole in tax laws meant that shoppers could save up to 10% on online orders compared to what they'd pay at the shop around the corner. But now, legislators believe they are closer to passing a sales-tax-friendly policy with the Marketplace Fairness Act of 2013, WWD reports.

Introduced to Congress yesterday, the law would give all states the option to collect sales tax from out-of-state businesses. For large retailers like Amazon, who have previously attempted to avoid charging sale tax by housing their distribution centers in tax-free states, the party is over. If passed, e-commerce retails will be subject to a uniform sales tax policy, rather than charging sales taxes in only select states.

One of the reasons this bill is expected to pass where its predecessors failed is that it contains a compromise that will exempt smaller businesses from having to charge the tax. According to WWD, the legislation would prohibit states from requiring "remote sellers with less than $1 million in annual nationwide remote sales" to collect sales and use taxes."

On that note, we can recommend some excellent indie boutiques you'd might like to book mark right about now.
· New Internet Sales Tax Bill Introduced [WWD]
· Amazon's Massive New Warehouses Will Get You Your Stuff Faster [Racked]