Tax & Accounting Blog

United States Senate Passes Marketplace Fairness Act

United States Senate Passes Marketplace Fairness Act

On May 6, 2013, the United States Senate Passed the Reid amendments to S.743, the Marketplace Fairness Act,  on a bipartisan vote of 70-24.   The Marketplace Fairness Act imposes an obligation on out-of-state sellers to collect sales tax for companies with remote sales in excess of $1,000,000.  S.743, Section 2 (c).  Sellers who … Read More

Internet Sales Tax Bill Passes in U.S. Senate

Internet Sales Tax Bill Passes in U.S. Senate

On Monday, May 6th, 2013 the Senate voted 69-27 approving the collection of sales tax from retailers with no physical presence in a state. This bill will move to the House of Representatives for voting where if approved the President has indicated “he would sign it into law” . Source: http://www.pcworld.com/article/2038026/us-senate-approves-internet-sales-tax.htmlRead More