IN officials react to Supreme Court's online sales tax decision

IN officials react to Supreme Court's online sales tax decision

The nation's highest court previously had determined that out-of-state retailers who don't have a physical presence in a state, such as a store or warehouse, couldn't be forced to collect that state's sales tax on purchases. Supreme Court decision expanding the ability of states to pull in tax dollars from online purchases could have a significant impact in Florida.

Not everyone has been excited about Washington state's new law. Under a previous ruling, if a business was shipping to a customer where the company didn't have a physical presence, the business didn't have to collect sales tax for the purchase. South Dakota does not collect income tax, and therefore relies heavily on sales taxes to keep its coffers full. The decision overturns a 1992 ruling that prevented the practice.

While this ruling is beneficial to state governments, it stands to have a negative impact on retailers and consumers alike.

The decision came on a South Dakota suit against Wayfair.com, with the state claiming the company should collect sales taxes on sales in the state. Noticeably absent is Amazon which has been collecting tax in every state for some time now, perhaps because Jeff Bezos saw this coming and wanted to be ahead of the curve.

The South Dakota statute limits sales tax collection to online retailers that ship $100,000 of goods or services to South Dakota in a year, or 200 annual transactions.

Some online retailers have already been collecting some state taxes.

Under the ruling Thursday, states can pass laws requiring out-of-state sellers to collect the state's sales tax from customers and send it to the state.

During an interview with FOX Business in April, National Economic Council Director Larry Kudlow suggested that changing the law could level the playing field between traditional and e-commerce retailers.

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Instagram will also look to ways for creators to monetize their content - an effort Facebook has been focused on for a while now . The IGTV button is located at the top right of the Instagram app home screen, next to the message inbox button.

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Trump is also looking at new tariffs on auto imports, opening a new front in the trade war. It had previously registered the move with the World Trade Organization (WTO).

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He said Turkey's goal is to make the northern Syrian region a safe zone, after the United States provided weapons to the group. The two countries have disagreed over US support for the Kurdish YPG militia, which Ankara views as a terrorist organization.

Here's a helpful tip from Justice Kennedy: "Eventually, software that is available at a reasonable cost may make it easier for small businesses to cope with these problems".

For a large state like Texas, the combined state and local revenue growth could be as high as $1.2 billion per year and will likely grow over time, Walsh said.

More than 40 other states and Trump's administration asked SCOTUS to overturn Quill v.

Roberts said he agreed that a 51-year-old case partly affirmed by Quill was wrongly decided, but he opposes discarding the physical presence rule because the internet economy has grown in reliance on it. In a dissenting opinion, Chief Justice John Roberts argued that any rules that affect such a large portion of the economy should be legislated by Congress, not the courts.

The Supreme Court's division on this case didn't fall along the usual liberal-conservative fault line.

The ruling opens the door to a new revenue stream to fill state coffers - up to $13 billion annually, according to a federal report - while imperiling a competitive advantage that e-commerce companies had over brick-and-mortar rivals that already must collect sales tax.

"The physical presence rule has always been criticized as giving out-of-state sellers an advantage", the ruling says. Wayfair, Amazon.com, Overstock, Etsy, Shopify, and Blue Apron were all down in the 30 minutes following the ruling, with Wayfair falling as much as 9.5 percent.

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