This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Nightmare of Sales Tax for Everyone

Even-small business trade organizations and lobbyists have had a hard time agreeing to a position on the issue, primarily because their constituents are both online and bricks-and-mortar retailers. The National Federation of Independent Business and the National Small Business Administration declined to comment for this story.

There are four bills between the House and Senate proposing Internet sales tax regulation: the Marketplace Equity Act of 2011 ( H.R. 3179); the Main Street Fairness Act ( H.R. 2701) and its correlating Senate bill, ( S. 1452); and the most recent bill, the Marketplace Fairness Act ( S. 1832), introduced in November by Sen. Mike Enzi (R-Wyo.) and 11 co-sponsors -- and the most likely to pass, observers say.

"This one has enough potential and effort to get moved through even in an election year. The pain that states are in is putting more pressure on both the states and the government to do something," says Steven Aldrich, CEO of, an online accounting program to help small e-commerce sellers.

Backers of the Marketplace Fairness Act, which has been referred to the Senate Finance Committee for review, says it means "states would have the option to collect sales and use tax revenues from out-of-state sellers through a new, simplified tax system."

The legislation would streamline "the country's more than 7,500 sales tax jurisdictions and provide two options by which states could begin collecting sales taxes from online and catalog purchases."

States that become members of the Streamlined Sales and Use Tax Agreement (24 have already) can require online sellers to collect sales taxes. The agreement would "bring uniformity to the definitions of items in the sales tax base, reduce the paperwork burden on retailers and incorporate new technology to modernize administrative procedures."
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMZN $507.08 0.00%
EBAY $22.49 0.00%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs