Realtors® Commend Supreme Court Decision Promoting Fairness Between Online, Main Street Businesses

The eBay Inc. application is seen on an Apple Inc. iPhone in this arranged

It was a South Dakota case that led to Thursday's high court decision, which opens the door for consumers to see sales tax on more online purchases and eventual reductions in the state sales tax rate that were built into a 2016 tax hike to raise teacher pay. Wayfair, which sells home goods, came in for a lashing from Justice Anthony Kennedy, who wrote the majority opinion. "I'd much rather have people buy their tickets at our front desk and keep the tax local".

Do you agree or disagree with how the Supreme Court ruled in this case? The Government Accountability Office estimated that state and local governments could have collected between $8 billion and $13 billion in sales taxes in 2017 "if states were given authority to require sales tax collection from all remote sellers". "South Dakota has a uniquely simple law since it generally taxes all consumer purchases instead of carving out a bunch of exceptions, and online sellers can remit their taxes to the state instead of each and every locality". Under the agreement, retailers can use a sales tax compliance service of their choice without charge for transactions in the participating states, according to Craig Johnson, executive director of the Streamlined Sales Tax Governing Board.

The New York State Department of Taxation and Finance didn't respond to a request for comment. "The challenge for smaller players will be significant, and the concern here is that complexity could stymie innovation and entrepreneurialism", he said.

"When you are dealing with the virtual cloud, it gets complicated", Reed said. Reaction to the ruling is mixed Companies with a physical retail presence in states have cheered the decision since before they were at a competitive disadvantage with online sellers.

Lawmakers have tried unsuccessfully to pass online sales tax legislation for years, with the most recent attempt failing after several conservatives called the provision a tax increase on online shoppers.

More news: Photo showing Melania Trump in 'don't care' jacket is real

The Illinois law takes effect on October 1, and it's built on legislation passed in South Dakota that is the focus of the recent Supreme Court decision. Out-of-state sellers that meet minimum standards can be required to charge, collect and remit sales tax.

"So this is about sales tax collection, but it's also about equality and support of those people who have businesses in our community".

"One report says West Virginia stands to have the second-biggest gain on a percentage basis in the country by collecting on online sales", he said. Large states, in particular, have been reluctant to join, in part because of the flexibility they must give up in customizing their sales tax rules. The Court in Wayfair overruled Quill as well as an earlier physical presence case, National Bellas Hess v. Department of Revenue of IL.

HBK's Tax Advisory Group (TAG) will provide updates about the decision as they become available. If a company doesn't expect to reach the threshold in a state, it may decide not to collect tax. Congress could also step in and block retroactivity, Jones said.

Related News:

  • Saudi and UAE coalition forces enter Yemen’s Hodeidah airport

    Saudi and UAE coalition forces enter Yemen’s Hodeidah airport

    The port city is the entry point for 70 percent of essentials to war-torn Yemen where millions are at risk of starvation. The Houthis seized control of Sanaa in September 2014, later pushing south toward the port city of Aden.
    Portugal 1-0 Morocco

    Portugal 1-0 Morocco

    Portugal's misses mattered little, however, as the European champions secured their first win of Russian Federation 2018. The 33-year-old scored a first half header in four minute for Portugal against the Lions of the Atlas.
    Canada Has Just Passed a Landmark Bill Legalizing Recreational Marijuana

    Canada Has Just Passed a Landmark Bill Legalizing Recreational Marijuana

    Canada has legalised the recreational use of marijuana, with the Cannabis Act passing its final hurdle on Tuesday. The federal government and the provinces also still need to publish regulations that will govern cannabis trade.
  • Saudi Arabia could see potential $10bn windfall from MSCI upgrade

    Saudi Arabia could see potential $10bn windfall from MSCI upgrade

    Other sectors including utilities, insurance, retail and real estate account for the remainder", Merrill Lynch said. Saudi authorities say they plan to sell up to five percent of oil giant Aramco within the next 12 months.
    Prince Harry and Meghan join the queen at first Royal Ascot together

    Prince Harry and Meghan join the queen at first Royal Ascot together

    A tonally coordinated box clutch and sensible heels were a nice complement to the crowning accessory: a Philip Treacy hat. Markle opted for an understated white silk belted silk dress by Givenchy , her favourite go-to designer.
    Starbucks to close 150 stores amid slowing sales

    Starbucks to close 150 stores amid slowing sales

    Starbucks now operates about 13,900 locations in the US , putting it within sipping distance of the 14,400 restaurants operated by McDonald's.
  • Supporters of Trump steadfast despite immigration uproar

    Supporters of Trump steadfast despite immigration uproar

    Elizabeth Warren plans to visit the border on Sunday, and Booker is planning a separate trip at roughly the same time. Unlike in the past, adults will not be turned over to the Justice Department when they face criminal charges.
    Trump threatens additional tariffs on $200 billion of Chinese goods

    Trump threatens additional tariffs on $200 billion of Chinese goods

    American semiconductor makers saw larger losses at 2 percent or more due to their high exposure in China, according to CNBC . But, he said, "the United States will no longer be taken advantage of on trade by China and other countries in the world".
    OPEC braces for tough Vienna talks on hiking oil output

    OPEC braces for tough Vienna talks on hiking oil output

    After yearlong rise in oil and gasoline price, there's a call to control Oil price from rising too far and too fast. For one, the confrontationist attitude shown by the United States government has rattled world currency markets.
  • Magnificent Musa gives Nigeria victory over Iceland

    Magnificent Musa gives Nigeria victory over Iceland

    June 19-24, 2018 - The FIFA World Cup takes place in Russian Federation , with 32 teams competing to be crowned World Champions. Musa kept a calm head, rounded the Halldorsson, then took his time before slamming the ball into the net at the Volgograd Arena.
    World Cup match report Serbia v Switzerland 22 June 2018

    World Cup match report Serbia v Switzerland 22 June 2018

    The result moves Switzerland to four points in World Cup Group E, level with Brazil, while Serbia are one point behind. His family, like Shaqiri's, hail from Kosovo, whose independence is not recognised by Serbia for historic reasons.
    How will online sales tax ruling affect consumers?

    How will online sales tax ruling affect consumers?

    Heitkamp suggested that states follow South Dakota's lead and enact laws tailored not to target small businesses. If a business had a physical address in a state, it's required to charge sales tax for all orders in that state.


Most liked

Legal pot gets green light after Canadian senators sign off
This comes shortly after Canadian lawmakers passed the bill to legalize marijuana in the country via a 52-29 vote in the Senate. If that number holds true, marijuana would pass the liquor industry's profits in Canada .

England must be more clinical against Panama
Gomez screened the back four well against Belgium, which would be no easy task for any player, let alone a 34-year-old. Walker said Holland had apologised to the squad at Friday's training session for allowing the picture to be taken.

Priest slaps baby because it won’t stop crying during baptism
People on YouTube took to the comments section to express their outrage at the priest's behavior. The priest got irritated and was speaking loudly, in a bid to raise his voice over the screams.

North and South Korea Discuss Reunion For Families Separated By War
Then, in South Korea, the Pentagon agency responsible for prisoners of war and missing troops would take custody of the remains. In particular, some South Koreans feel that they have been shortchanged by North Korea and betrayed by the United States.

European Union says it will start to impose tariffs on USA on Friday
The tariffs will hit $3.2 billion in USA imports to the European Union. "He's right, we make great cars in the United States". The targets include steel, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice. .

Former prosecutors call on Sessions to end border 'zero tolerance'
Almost 2,000 minors have been separated from their families since Sessions announced the policy in April. Sessions, however, say they are glad he isn't bending to the pressure.

Paul McCartney's Carpool Karaoke Leaves James Corden In Tears
As he and Corden began singing the classic song, Corden got visibly emotional, tearing up as he harmonized with the music legend. I didn't see that one coming round the corner.

Prince Louis' christening date confirmed by Prince William and Kate Middleton
Guests can expect to chow down on a slice of William and Kate's wedding cake, which was a fruit cake envisioned by Fiona Cairns. Meghan was also confirmed shortly after her baptism, meaning that she was then able to join her husband at Holy Communion.

Prince Louis' christening to be held at Chapel Royal on July 9
Since his birth, Louis has not been seen in public although his family did issue official photographs of the new royal last month. Prince Louis will be christened by the Archbishop of Canterbury, Justin Welby, on Monday 9 July, Kensington Palace has announced.

Disney ups Twenty-First Century Fox to more than $70.3 billion
For all the certainty Iger projects, many observers believe the Disney-Fox-Comcast intrigue is in early innings. That offer is now valued at $52.6 billion based on the latest number of outstanding shares provided by Fox.

Dustin Johnson sends classy tweet after US Open
The day's only other sub-par round was Kiradech Aphibarnrat's 68, which put the Thai into a tie for seventh on six-over. Fleetwood bogeyed the ninth, but he dominated the 12th through 15 holes, birdieing each one to move himself to two over.

United States plans to withdraw from UN Human Rights Council
Israel's ambassador in Geneva, Aviva Raz Shechter, castigated the council for "spreading lies against Israel". Human Rights Council, saying the group should make it easier to expel states with poor human rights records.

China’s Xi praises North Korea’s Kim for Trump summit, promises support
According to Reuters , Xi commended Kim for the meeting with Trump last week and was grateful for the outcome. Despite reports of differences, China remains a close ally of North Korea.

Jose Mourinho Wants £60m Brazil Star At Manchester United
Willian can be a flawless fit at Old Trafford and one can expect the Red Devils to go all out for the Brazilian winger this summer.

Shock win over Germany could help Mexico overcome last-16 jinx
The squad had not lost a World Cup opener since 1982 and won its four previous initial matches by a combined score of 20-2. Mexico repeatedly targeted the right flank to great effect with Lozano given the freedom to run the channels.