Internet sales tax could change the way many do business - News14 ...

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WINSTON-SALEM -- Every year, hundreds of millions of dollars in sales tax revenue is lost to unreported Internet purchases, but that may soon change if the Internet Sales Tax Bill is passed.

Miss Jenny's Pickles have been pickled, packed and shipped to retailers all over the world. They can even be found online. And with the possibility of a new Internet sales tax going into effect, they're planning ahead.

"I think we're just going to have to adjust our accounting and the way that we take in sales tax and pay sales tax for all the different states," Ashlee Furr, vice president of Miss Jenny's Pickles, said.

But online retailers with less than $1 million dollars in sales would not have to collect the tax.

"Right now, our online sales are not a million dollars or more, but in the future, we'd look that way," Furr said.

Gayle Anderson, president of the Winston-Salem Chamber of Commerce, said she has received a lot of questions about the proposed Internet sales tax.

"I'm not hearing as much concern about the tax itself as I am about just the logistics of how it might have to be done," Anderson said.

Under the legislation, the sales tax would be sent to the states where the shopper lives. The Internet sales tax would also require states to provide free software to businesses to help sort everything out.

"The bottom line is that states are losing millions and millions of dollars by not collecting the tax and I think they're going to figure out some way to collect it one way or the other," Anderson said.

Supporters say this tax would just level the playing field. Current law says states can already require businesses to collect sales tax on online purchases if the store has a physical presence in the state.

"I know it'd be a big boost to the economy with taxes taken in, and you know we need things like that right now," Furr said. "We're not back to where we were."

The U.S. Senate passed the Internet Sales Tax Bill. It will now go on to the House for a vote.

Source: http://triad.news14.com/content/top_stories/693802/internet-sales-tax-could-change-the-way-many-do-business

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