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.
- Small Business Tax Deduction Strategies No matches