Proposal in Congress could mean $20M for Vt.April 23,2013
The Associated Press
MONTPELIER — Proposals being considered by Congress to require Internet retailers to charge state sales taxes could mean $20 million a year in revenue for the state of Vermont.
Currently, Internet retailers don’t have to impose a state sales tax unless the company has a physical presence in the state.
Vermont Tax Commissioner Mary Peterson tells Vermont Public Radio people who purchase items from e-retailers are supposed to pay the state sales tax, but they rarely do.
Many small retailers have complained that this gives the Internet retailers an unfair price advantage and state officials are upset because they lose revenue.
The U.S. Senate is set to vote this week on legislation requiring most e-retailers to include any applicable sales tax. There is a similar bill being considered in the House.MORE IN This Just InMONTPELIER — This week will be a busy one for the Senate Education Committee as its members put... Full Story
- Most Popular
- Most Emailed