Marketplace Fairness Act Hearing August 1
- Sales Tax News
- Jul 26, 2012 | Will Frei
The U.S. Senate Committee on Commerce, Science, and Transportation will hold a hearing to discuss the Marketplace Fairness Act (S. 1832), a bill that grants states more power to require online sellers to collect sales tax.
The Senate Committee gives the following synopsis of the Act:
. . . local retailers who compete with online companies are at the mercy of a 6-10% price disadvantage, and state and local governments are deprived of billions of dollars in revenue. Bipartisan legislation co-sponsored by Chairman John D. (Jay) Rockefeller is pending in the Senate that would eliminate this price disadvantage on local retailers and would provide states with the ability to enforce their existing state and local sales and use tax laws in a manner that does not unduly burden e-commerce.
The hearing will be webcast live via the Senate Commerce committee website.
The Marketplace Fairness Act is one of three bills that allow states to make Internet sellers collect sales tax, even if they do not have a physical presence in-state.
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