Consumers can expect to see sales tax charged on more online purchases – likely over the next year and potentially before the Christmas shopping season – as states and retailers react to the court’s decision, said one attorney involved in the case.A 2015 estimate put the total loss to states at $26 billion. The state could bring in up to $40 million more per year from taxing online sales, he estimated. “As much as I like the internet, real harm has been done”, says Mike Brey, owner of two Hobby Works stores in Maryland. North Dakota (Quill), in which the Supreme Court held that states could only require a company to gather and submit sales tax on its transactions if it maintained an in-state physical presence.”The internet’s prevalence and power have changed the dynamics of the national economy”, Justice Anthony Kennedy wrote in the court’s majority opinion. It’s rarely enforced on individual purchases, however, according to Grant Thornton sales tax expert and University of Minnesota adjunct professor Dale Busacker.Big Supreme Court win on internet sales tax – about time!Jackley says it may take several months before the state law can be applied to all online retailers. USA Today points out… Read full this story
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