Here Is Why Online Shoppers Will Soon Pay Sales Taxes
Online retailers are now required to pay state and local sales taxes. Supreme Court justices won in a unanimous 5-4 vote. This decision will affect online consumers across the country.
It is said that under National Bellas Hess, Inc. v. Department of Revenue of Ill., 386 U. S. 753, and Quill Corp. v. North Dakota, 504 U. S. 298, South Dakota has lost between $48 and $58 million dollars annually because it doesn’t collect sales taxes.
This means that the act requires retailers who make more than $100,000 in annual sales or at least 200 transactions in a state will have to pay sales tax.
The price of a company product may not change but upon check out you will soon see a few extra dollars being charged. A few extra dollars may not mean anything to you but to the government it equates to millions of dollars in extra revenue. Once it hits on a national level, it equates to billions.
Expect Changes Sooner Rather Than Later
Some states will soon implement sales tax within the next 60-90 days according to The New York Times. A select number of states will still have to pass laws and jump threw over a few extra hurdles before you will begin to see the change.
The power over the internet has finally taken over. Looks like convenience may not be so convenient after all. It may soon make more sense to go into your favorite retailer and shop in person again.