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Online Sales Simplification Act 2016

Update On :03 September 2016

Online Sales Simplification Act 2016

A discussion draft on Online Sales Simplification Act of 2016 which hasn’t yet been formally introduced in the U.S House of Representatives is circulating for about a week. The drafted bill proposes a more streamlined system to determine the sales tax collected on online orders. 

It would allow e-retailers to remit the collected monies to their home state revenue office in the same manner they already remit taxes collected on web sales to in-state residents. It addresses weaknesses in prior tax bills and eases e-retailers’ burden of collection and remittance. This simplified online tax bill has received the support of many online retailers. 

A letter organized by the True Simplification of Taxation (TruST) Coalition voicing support for the Online Sales Tax Simplification Act and sent Thursday to Rep. Bob Goodlatte, chairman of the House Judiciary Committee and author of the drafted legislation, garnered more than 100 signatures from e-retailers, catalogers and retail industry associations.

The TruST Coalition is a lobbying group that champions keeping interstate commerce and competition free from what it considers unfair tax burdens imposed at the state level. Its members include the American Catalog Mailers Association, the Direct Marketing Association and the Electronic Retailing Association. 

North American e-retailers supporting the bill include: Overstock Inc, Colony Brands Inc, Crutchfield Corp, Mason Companies Inc, Blue Nile Inc, Potpourri Group Inc, Christianbook LLC, Baudville and Harriet Carter Gifts Inc. The letter of support calls on Congress to bring certainty and rationality to the online tax situation.

News Source From : https://www.internetretailer.com/2016/09/02/e-retailers-begin-lining-behind-simplified-online-tax-bill

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