Congress Not Looking to Pass Internet Sales Tax Anytime Soon
Ever since the Internet became a worldwide sensation, there have been those who think it should be taxed, especially Internet sales from state to state. Taxing the Internet would be a huge source of extra revenue for the government, but for those who use the Internet to shop (which is just about everyone these days), those taxes would be a real headache.
However, the latest attempt at taxing the Internet may not be going anywhere. That’s because the Main Street Fairness Act, a bill that would allow state and local governments to charge and collect taxes on Internet sales from companies that are located in another state, has run into a brick wall in Congress. The bill already passed the Senate in May of 2013, but so far Congress has not jumped on board.
Even though the bill will not be moving forward this year, according to Speaker of the House John Boehner, proponents of the bill could always bring it up again next year, but it would have to start over fresh in Congress.
Those who oppose the bill claim that it will be another tax on consumers who use the Internet to shop. Plus, for those companies who sell online, the price to set the system up to collect those taxes would be costly.
For now, though, taxing the Internet is still just an idea and not a reality. The debate will assuredly rage on in Congress, but whether or not it ever becomes a reality is still to be determined. Meanwhile, you can contact GROCO at any time for all of your tax planning needs by clicking here.
Partnerships for Strategic Conservation – Barry Gold
Barry Gold Outlines a Bold Vision for Conservation and Sustainable Development Africa is on the brink of a transformation—one that will define the future of the continent and, ultimately, the planet. With its population projected to double from 1.3 billion today to 2.2 billion by 2050 and reach nearly 4 billion by 2100, the demand…
Restoring Gorongosa National Park
Greg Carr’s Mission to Restore Gorongosa National Park: A Story of Conservation and Community Greg Carr’s journey from a successful technology entrepreneur to a dedicated philanthropist restoring Mozambique’s Gorongosa National Park is nothing short of remarkable. What began as a search for a meaningful way to give back has evolved into one of the most…
The Ownership Revolution: How ESOPs Can Strengthen the Middle Class
The Ownership Revolution: How ESOPs Can Strengthen the Middle Class For decades, the American middle class has been the foundation of economic stability, embodying the aspirations of millions. Yet, as Chester Woolley eloquently highlighted in his recent speech, this once-thriving segment of society is in decline. “The middle class seems to be shrinking. It doesn’t…
Dr. Stel Nikolakakis on The Power of Vision Therapy
Unlocking Potential: The Power of Vision Therapy Vision therapy is emerging as a transformative tool for individuals with learning disabilities, ADHD, concussions, and even high-performance athletes. Dr. Stel Nikolakakis, an optometrist and a pioneer in neuro-visual training, discovered the profound impact of vision therapy through a deeply personal experience—his son’s diagnosis with cerebral palsy. His…