Product Sources, Retail News & Internet Strategies
The long-debated Internet sales tax issue is nearing an end with the U.S. Senate's passage of the Marketplace Fairness Act by a binding vote of 69 to 27. Now the bill must go before the U.S. House of Representatives for approval. The legislation would allow the 45 states, and the District of Columbia, that currently charge sales tax to require large online retailers to collect tax on purchases ... [Read more]
The U.S. Senate has voted 75 to 24 in favor of proposed nationwide Internet sales taxes, a move that several major U.S. retail groups applaud. The law, which exempts businesses with annual out-of-state sales of less than $1 million, "is proof-positive that the federal government's special treatment of online-only retailers will soon be a thing of the past," said Retail Industry Leaders Association ... [Read more]
Ask Roberta Bonoff, CEO and president of Creative Kidstuff, a specialty toy store based in Minnesota, how her company has stayed in business for 30 years and she’ll tell you, “First and foremost, it’s about offering your customers and your community an experience and service they won’t find anywhere else. Second, it’s about staying relevant and staying competitive.” One way to remain ... [Read more]
While government regulations and business tax laws continue to concern independent retailers, some of the policies enacted in January are having a positive effect on small businesses and startups. The JOBS Act, an acronym for Jumpstart Our Business Startups, was recently passed by Congress as a means of enabling entrepreneurs to raise up to $1 million from the general public. Business owners ... [Read more]
The Taxpayer Relief Act of 2012 delivered some good news to America’s 28 million small businesses, as the legislation extends some of the tax credits President Obama signed into law during his first term. Under this law, more than 98 percent of Americans and 97 percent of small businesses will not see their income taxes go up, avoiding a negative impact on small business revenues. Below are ... [Read more]
To the relief of many Americans, the House has approved a bill to avert the fiscal cliff, staving off widespread tax increases and deep spending cuts. In the 257 to 167 vote late Tuesday, 172 Democrats and 85 Republicans favored the bill, while 16 Democrats and 151 Republicans opposed it. The Democratic-led Senate had overwhelmingly approved the bill early Tuesday before passing it to the ... [Read more]
California is the most recent state to require online retailers with in-state affiliates, from Amazon on down, to charge sales tax. But, soon, many online retailers in every state may have to collect sales tax if, as anticipated, federal legislation known as the Marketplace Fairness Act, passes the House and Senate. If you run an online store, it's time to think about how changing sales tax laws ... [Read more]
Advocates for a law that would require web-only retailers to collect state sales tax are optimistic that Congress will be enacting such legislation in the near future. While Internet retailers have benefitted from a 1992 Supreme Court ruling that exempted them from collecting sales tax if they didn't have an offline presence in the state of the purchaser, state governments and brick and mortar ... [Read more]
Advocates for a level playing field between traditional brick and mortar retailers and their online only competitors are celebrating the implementation of sales tax fairness in California. Beginning September 15, online only retailers, such as Amazon.com, will begin collecting state sales tax in California. “Modern retailers operate in a competitive environment that requires them to compete on ... [Read more]
Senior VP of the National Federation of Independent Business (NFIB), Susan Eckerly, recently released an open letter on behalf of the organization, advocating the Red Tape Reduction and Small Business Job Creation Act. The NFIB recognizes this legislation as a source of relief from regulations placed on small businesses, hindering the creation of jobs. The Act would ultimately allow for, "more ... [Read more]
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