Senate passes Internet Sales Tax
GREENSBORO, N.C.–Market America in Greensboro is a global online sales company that ships products to customers all over the world.
The company makes nearly $500 million a year in online sales, however, customers who buy from the company may soon have to pay a little bit more for their purchase.
Monday afternoon the Senate passed a bill that would make it easier for 45 states and the District of Columbia to collect sales taxes for online purchases.
The new legislation would only apply to online retailers who make $1 million a year in out-of-state sells, but critics say that number is too small.
Small online sellers are also worried about the potential audits in nearly every state. They believe it would be hard to determine if the money collected from the internet sales tax would benefit the services the taxes are intended to.
Market America makes nearly $500 million a year in online sales.
The Internet sales tax will go to the House next, where it’s expected to face some opposition.