Friday, April 27, 2018

Internet Sales Tax: A Game Changer?

Keypoints Retail Newsletter

Have you been paying sales tax on your online purchases?

A 1992 US Supreme Court ruling says that a state can only require a retailer to collect sales taxes if the businesses has a physical presence - a store, office, distribution center - in that state. Therefore, if an online retailer is not required to add the tax, the consumer is still expected to remit the sales tax that should have paid to the resident state in the form of a use tax. Most states include a line their income tax forms where they ask you to declare any use tax you might owe on such purchases.. . . more