INTERNET MARKETING

 

 
INTERNET MARKETING

New 2019 Laws Affecting NY Businesses (Feb 2019)

New 2019 Laws Affecting CA Businesses (Feb 2019)

New 2019 Laws Affecting Businesses in the North East (Feb 2019)

5 Instagram Marketing Mistakes To Avoid In 2019

6 Digital Marketing Predictions for 2019

6 Tips for Running a Successful Small Medical Practice
 States With No Corporate Income Tax Rate
Nevada
South Dakota
Texas
Washington
Wyoming 
States With No Personal Income Tax
Alaska
Florida
Nevada
South Dakota
Texas
Washington
Wyoming
States With No Corporate or Personal Income Tax Rate
Nevada
South Dakota
Texas
Washington
Wyoming
Key Economic Indicators 
Item  Rate 
CPI: -0.1% (Dec 2018) 
GDP Growth:   3.4% (3rd QTR 2018)
Bank Prime Interest Rate:   5.5%
Consumer Confidence:  120.2% (Jan 2019) 
Small Biz Confidence:  104.4% (Dec 2018) 
Avg Gas Price:  $2.27 
 
 
 
 

 

 

 

 

 

 

 

SMALL BUSINESS NEWS

Jul 2018

 

Email this page    

 

New Ruling on Intenet Tax Could Negatively Impact Your Smallbiz

In June 2018 the Supreme Court ruled that States could collect Internet Sales Tax.

The ruling comes from the SOUTH DAKOTA v. WAYFAIR, INC., ET AL.

The decision overturned previous rulings in 1967 and 1992 in which the court ruled that Illinois and North Dakota could not force the collection of sales taxes from sellers with no presence in those states.

In 1998 Congress passed the Internet Tax Freedom Act which prevented the collection of Internet Sales Tax.   It prevented statutes from collecting Internet Sales Tax from companies that did not have a physical presence in that state. 

It became the burden of individual consumers to pay the sales tax [at the end of the year] to their respective states if their states required it.  Many consumers did not comply with that rule. 

In order to force the collecttion of taxes many states began to pass laws requiring consumers in their states to pay Internet sales tax and passed laws that define what it means for a business to have a presence in their states. 

More than 20 states define a seller's physical presence as including any affiliated website. Ten states require out-of-state sellers to notify buyers and inform states of the unpaid sales taxes.  Today the top 100 Internet Retail Sellers remit about 90 percent of the taxes owed.  They include large retailers such as Amazon, eBay, etc.

So, what happens next.  States will be implementing laws to start taking advantage of this new tax source.  It is now up to Congress to step in and provide clear Internet Sales Tax rules with a strong protections for small business. 

Learn more about States Internet Sales tax.
 

Sources:
Supreme Court Ruling: SOUTH DAKOTA v. WAYFAIR, INC., ET AL.
Internet Tax Freedom Act

By Bill Williams

 

 

 

 

 

 

 

 

 

 
 

 

  
 

SBZ Home

News Home

Extra News Home

  

  

     
INTERNET MARKETING

                  Report broken links               Contact us              About us           Become a Contributor to this site            Link Exchange 

2012-2015 The Small Business Zone, Inc.  All rights reserved.