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Online shopping is not only the best way to pass time at the office (sorry, boss) but it’s also the way to find some of the best bargains on the web, if you do it right.
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But a new sales tax proposal may have you shelling out a little more from your wallet, especially when it comes to scoring deals on sites like eBay and Amazon.
Federal lawmakers from both parties today are unveiling their plan to close a loophole in federal tax law that has let retailers like Amazon and eBay avoid charging sales tax to shoppers in many states.
As reported by Reed:
In an effort to help local Main Street businesses compete more effectively against out-of-state Internet sellers and retailers, U.S. Senator Jack Reed (D-RI) today joined with a bipartisan group of 53 Senators and Representatives in introducing the Marketplace Fairness Act of 2013.
The bill provides states the authority to enforce existing sales and use tax laws, if they choose to do so, but would exempt small businesses that earn less than $1 million annually from out-of-state sales.
Looks like online shopping is about to get real political! Don’t be shocked when your cart total is bumped up with a little something extra.
SOURCE: Reed
