SCOTUS just ruled that states can collect sales tax on out-of-state purchases. Going to take a while for all of this to settle down but the ruling is really going to shake up the retail world. Don't think this will affect most of us in Texas since the big online guys have a physical presence in the state and we already pay for a ton of our on line stuff BUT it will still affect the bigger picture.
For a while it will be a YUGE nightmare as the Amazons of the world have to develop the system where they comply with the tens of THOUSANDS of local taxing authorities . The small online guys are going to take body blow.
I look for Congress and state governments to step in QUICK to help by possibly some form of tax smoothing where , perhaps, a single tax rate for a state applies much like they do for high ticket item like cars. But short term this is going to be a fun ride for us news junkies.
For a while it will be a YUGE nightmare as the Amazons of the world have to develop the system where they comply with the tens of THOUSANDS of local taxing authorities . The small online guys are going to take body blow.
I look for Congress and state governments to step in QUICK to help by possibly some form of tax smoothing where , perhaps, a single tax rate for a state applies much like they do for high ticket item like cars. But short term this is going to be a fun ride for us news junkies.