States sign the Streamlined Sales Tax Project — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
On May 5, officials from 19 states signed on to the Streamlined Sales Tax Project (SSTP), a collective effort among 42 states and the District of Columbia to impose sales taxes on remote sellers of products and goods over the Internet. It simplifies the collection of state sales tax by assessing the tax based on the point of destination. In addition, some states amended their laws to accommodate uniformity for sales tax purposes. Bottom line: The SSTP is expected to have a significant impact on individuals and businesses buying and selling in cyberspace.