Wyoming Senator Mike Enzi leads sponsoring internet sales tax
Vote on the ‘Marketplace Fairness Act’ expected May 6
by Pinedale Online!
May 5, 2013
After years of trying, U.S. Sen. Mike Enzi, (R-Wyoming), is hoping Congress will pass a bill to allow taxation of internet sales. Enzi is a key sponsor of the Marketplace Fairness Act, along with U.S. Senators Dick Durbin (D-Illinois) and Lamar Alexander (R-Tennessee).
The Marketplace Fairness Act grants states the authority to compel online and catalog retailers, no matter where they are located, to collect sales and use tax at the time of a transaction. Advocates say keeping track of a few thousand local tax rates is no longer an insurmountable technical, administrative, or financial burden for businesses. They argue the bill would level the playing field between online-only retailers and Main Street businesses by giving the States the option to charge sales tax.
Opponents say the bill undermined States sovereignty by giving states the ability to level taxes beyond their own borders and allows taxation without representation for consumers, and puts a heavy burden upon small businesses requiring them to face the task of collecting and remitting taxes to nearly 10,000 taxing jurisdictions.
The Internal Revenue Service defines a small business at $20 million in annual revenue. The Marketplace Fairness Act arbitrarily defines a small business that would be required to collect the sales taxes as having $1 million in revenue.
The Senate will vote on final passage of the Marketplace Fairness Act of 2013 on Monday, May 6, 2013.
Click here for related articles on this topic:
Marketplace Fairness Act
Marketplace Fairness Act Wikipedia
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