HOFFMAN ESTATES, Ill., Feb. 14, 2013 /PRNewswire/ -- Sears Holdings (NASDAQ: SHLD), parent company of Sears Roebuck and Co., Kmart and Lands' End, today expressed support for the Marketplace Fairness Act of 2013. The bipartisan legislation will level the sales tax collection playing field for local businesses by granting the states authority to enforce existing laws and require out-of-state, online-only retailers to collect and remit sales taxes on sales made to its residents.
In a statement released today, the company said:
"We commend Sens. Durbin, Enzi, Alexander and Heitkamp; and Reps. Womack, Speier, Noem, Welch and Conyers for their continued leadership on this important issue. Sears Holdings has been and continues to be a strong supporter of restoring balance and fairness to the system by enabling states, if they so choose, to enforce the collection of taxes that are already owed by every customer making a purchase, whether the purchase is online or in a retail store. Most retailers calculate and collect the tax at the point of sale, as required by law. However, online-only merchants currently do not have to collect the tax broadly, leaving the customer with the responsibility of saving receipts and filing and paying use taxes for those purchases on their state income tax returns. The Marketplace Fairness Act will correct a system that has given a significant and unfair competitive advantage to a handful of online-only retailers, while hurting those that create jobs and invest in local communities. We are grateful to the sponsors and cosponsors of this bipartisan legislation and look forward to working together to enact it."
About Sears Holdings Corporation Sears Holdings Corporation is a leading integrated retailer with over 2,600 full-line and specialty retail stores in the United States and Canada and the home of SHOP YOUR WAY, a social shopping experience where members have the ability to earn points and receive benefits across a wide variety of physical and digital formats through ShopYourWay.com. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, fitness equipment and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, with a broad apparel offering, including such well-known labels as Lands' End, the Kardashian Kollection, Jaclyn Smith and Joe Boxer, as well as Sofia by Sofia Vergara and The Country Living Home Collection. We are the nation's largest provider of home services, with more than 15 million service and installation calls made annually and have a long-established commitment to those who serve in the military through initiatives like the Heroes at Home program. We have been named the 2011 Mobile Retailer of the Year, Recipient of the 2012 ENERGY STAR® "Corporate Commitment Award" for Product Retailing and Energy Management and one of the Top 20 Best Places to Work for Recent Grads. Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation. For more information, visit Sears Holdings' website at www.searsholdings.com. Twitter: @searsholdings | |Facebook: http://www.facebook.com/SHCCareersNEWS MEDIA CONTACT:Sears Holdings Public Relations(847) 286-8371 SOURCE Sears Holdings Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts