US Senate Passes Internet Sales Tax Bill
Photo: Image by courtesy senate.gov
From A Press Release WASHINGTON, D.C. – U.S. Senator Roy Blunt (Mo.) issued the following statement regarding the Senate’s passage of the “Marketplace Fairness Act,” which he voted for and co-sponsored.
“This bill will help to level the playing field for Main Street retailers in Missouri and across America. It does not create a new tax – it simply allows states to collect sales taxes they are already owed from out-of-state and online businesses, if they choose to do so.”
The Marketplace Fairness Act provides states with the option to collect sales taxes they are owed from online retailers and out-of-state businesses through a new, simplified tax system. Current law requires individuals to pay these taxes when they file each year; however, most taxpayers do not. The bill includes an exemption for online sellers who generate $1 million or less in annual gross receipts. Blunt serves as a member of the U.S. Senate Committee on Appropriations and the U.S. Senate Committee on Commerce, Science, and Transportation.