The Court’s decision in South Dakota v. Wayfair overturns a 1992 ruling, Quill v. North Dakota, that, in essence, made the Internet a tax-free zone.
The latest ruling gives states broader taxing power that, according to various estimates, could allow them to reap anywhere from $8 billion to $23 billion more sales taxes annually.
Currently, all but five states—Alaska, Delaware, Montana, New Hampshire, and Oregon—impose sales taxes. The ruling was a particular victory to South Dakota, whose law requires dealers with more than $100,000 in sales or 200 transactions per year in the state to pay a 4.5% tax on purchases, including those made with buyers in states where the seller might not have a physical presence.
At least 16 other states have laws similar to South Dakota’s that would allow them to start collecting taxes from online sellers.
Online retailers such as Wayfair and Overstock opposed the South Dakota measure because, they assert, smaller sellers would be hit with onerous compliance costs.
What does this decision mean to your business?
Very few people understand the intricate implications, how to prepare for it and what are some solutions. Brian Fricano, CEO and Founder of Sustainable Supply is one of the few. He will join the Home Improvement eRetailer Summit to discuss, clarify and offer solutions to this recent federal ruling.
Read more here http://www.eretailersummit.com/press-releases/
If you haven’t registered yet, please do at https://www.eretailersummit.com/eretailers-info/request-an-invitiation/ and take $300 off with code ATTEB because we all should understand what this decision means to our business and our market. Hope to see you November 7-9, 2018 at the Hotel Monaco Chicago in Downtown Chicago.
Sonya Ruff Jarvis, is the Managing Member of Jarvis Consultants and Founder of the eRetailer Summit. Sonya has extensive experience in creating original innovative solutions to overcome major business challenges.
Sonya has spent most of her career visiting headquarters across global industries and has built strong business relationships across diverse brands.
Sonya has a M.B.A. in Marketing. She is married and has a daughter and they live in Fairfield County Connecticut.
Please follow the eRetailer Summit showcase page on LinkedIn here.