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Sales tax law hits snag

by on
in Small Business Tax

The much-discussed legislation that would impose sales tax on Internet ­sellers appears to have stalled in Congress. In May, the Senate passed the latest version of the Marketplace Fair­­ness Act authorizing individual states to collect the tax revenue from online retailers on transactions within the state. The bill included an exemption for small businesses with less than $1 million in annual sales.

U.S. Rep. Bob Goodlatte, R-Va., recently proposed a modified system that would be so simple the small business exception wouldn’t be needed.

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