“States are under pressure to raise their revenues, and with e-commerce sales rising, they are seeing these revenues go out of state,” Fiorentino said. “I don’t see the states ignoring it for a long time. Sales tax has become an issue for everyone, and in the near future we’ll all be collecting.”
According to a statement released last month by U.S. Rep. Bill Delahunt (D-MA) when he introduced H.R. 5660, the Main Street Fairness Act, sales tax revenues comprise up to a third of most state budgets.
Delahunt estimates $18.6 billion will go uncollected in 2010, and by 2012, based on conservative estimates, the states will be losing at least $23 billion annually. That amounts to a loss of about $55 billion between 2009 and 2012.
The goal of the proposed Main Street Fairness Act is to allow approval for the 24 states that have joined the Streamlined Sales and Use Tax Agreement to revise their sales tax laws to make it easier for all retailers to collect.
See full article at: Systemax’s Fiorentino: Online Sales Tax Collection is Coming.
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