Monday, 24 September, 2018

SD may see lower rate after sales tax ruling

The Supreme Court rules against Wayfair and other online retailers and overturns ban on the collection of online sales taxes. Jenny Kane  AP The Supreme Court rules against Wayfair and other online retailers and overturns ban on the collection of online sales taxes. Jenny Kane AP
Elsie Buchanan | 24 June, 2018, 02:58

"(They) pay property taxes, lease or own retail space, support their communities through charitable contributions and help their communities recover after natural disasters".

Last November, the federal Government Accountability Office estimated that states could have collected between $8.5 billion and $13.4 billion in sales taxes in 2017 if they had expanded taxing authority.

CNET reports that this overturns a standing 1992 decision that prevented states from collecting sales tax from online retailers that had no physical presence in their state.

"It will further level the playing field between in-state brick-and-mortar retailers and their online competitors, while also boosting Indiana's sales tax base". They instead suggested that Congress should pass legislation simplifying online sales tax to create a level playing field.

President Trump called the decision a "big victory for fairness" in a tweet posted Thursday afternoon. North Dakota focused on catalog and mail-order purchases and required that businesses must have a physical presence within a state for the state to collect income taxes.

Gov. Pete Ricketts indicated that he's determined to convert the potential revenue into local property tax relief, not state programming.

Alli remains a doubt for Panama clash
This will be their initial aim against England and Southgate will no doubt have prepared his players for this eventuality. Aside from the two potential changes, it looks as though Southgate will keep the same team that faced Tunisia.


Many online sales sites, including Amazon and Best Buy, already collect Minnesota sales taxes. Attorneys say any state, arguably, now has the space to make online businesses collect a tax from the buyer, then the seller must turn the money collected over to the state the product was sold in. States can, however, begin passing laws that require online retailers to collect sales tax from customers even if they have no physical presence in a state.

So the nation's highest court took another look at the matter and overturned its earlier ruling.

"As a regional destination for working, eating, entertainment, and shopping, sales tax revenue is a major part of how we operate our government and improve our community", said Chris Floore, assistant to the county manager for public affairs for Macon-Bibb County.

"If you're a pure-play online retailer and have very limited geography, say, one distribution center, this is going to be meaningful", said Charlie O'Shea, lead retail analyst at Moody's. Marketplace sellers weren't previously required to automatically collect sales tax on their sales, and the ruling may hurt their sales.

Shane M. Finn directs HBK CPAs & Consultants State and Local Tax ("SALT") Practice.

But NetChoice, a trade association for e-commerce firms, warned small businesses would have trouble complying with the different tax requirements in each state.

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