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How Might a Tax on Internet Sales Affect Your Business?

The U.S. Senate is considering a bill that would allow states to impose sales tax on all online purchases. Lawmakers voted 74 to 20 to open a debate on the measure, which would allow states to force out-of-state merchants to collect sales tax for them.

The question you may be asking is "how would a tax on Internet sales affect my online business?"

Currently, Internet businesses are faced with fees that don't always apply to brick-and-mortar stores. They may pay additional shipping costs, as well as fees for virtual shopping carts, such as those at eBay and Google Shopping. A sales tax on top of those fees will definitely raise the cost of buying online, which might hurt e-businesses temporarily. However, some e-commerce stores already charge sales tax, so they - and their customers - may not be affected by any new charges.

Unless a simplified version of the sales tax is applied to online sales, businesses may require more hours from their accountants to sort out all the "paperwork," but we think it's obvious that, when it comes to online buying, the cat is out of the bag. The vast majority of online shoppers will not give up the ease and convenience of purchasing from their laptop or smart phone because of a sales tax; a tax they'd have to pay anyway in any brick-and-mortar store in America.

WebArt's Steve Timofeev was asked about the possibility of an Internet sales tax for WNWO TV in Toledo. Watch the interview below.

 

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