Tax Free: Coming to an end?

Prepare to say goodbye to the good old days of tax-free online shopping. In recent weeks, there’s been a flurry of articles written on the proposed Marketplace Fairness Act. The Marketplace Fairness Act is a “bipartisan” proposal that would require out-of-state retailers to collect taxes on items sold in states where they have no physical presence.

A new rule allowing states to collect online sales tax is likely to be passed by Congress by the end of the year, according to the Wall Street Journal.

The Marketplace Fairness Act is currently in the Senate.  As usual these days, you can expect some to cloak themselves in the mantle of “helping small businesses.”  However, keep this in mind:  small businesses do not have one single interest in this. 

Article by Ganna Klymenko

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