Archived Trump 'Strongly' Favors Imposing Online Sales Tax, Mnuchin Says (fortune.com)
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Archived Trump 'Strongly' Favors Imposing Online Sales Tax, Mnuchin Says (fortune.com)
submitted ago by Smokrates
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[–] derram ago
https://archive.fo/7u1R0 :
'President Donald Trump “feels strongly” that the U.S. should impose a sales tax on purchases made over the Internet, Treasury Secretary Steven Mnuchin said Thursday. '
'Since a 1992 Supreme Court ruling established the precedent for exempting online retailers from sales taxes, various states have enacted “Amazon laws” to tax online sales the same way that brick-and-mortar sales are taxed. '
'The prospect of an online sales tax has been a long-standing point of contention between Internet-based retailers and their brick-and-mortar rivals. '
'But Amazon still avoids charging shoppers sales taxes when they buy from one of its third-party vendors — sales that make up about half the company’s volume. '
'Untaxed third-party sales might provide an advantage over brick-and-mortar retail chains, which have their own robust online operations but have to collect sales tax on all purchases in states where they have physical presences. '
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