New Internet Tax Bill Passes in Senate, Moves to House

The U.S. Senate passed a bill on Monday that would subject online shoppers to state sales taxes. The 69 to 27 vote drew support from both sides of the aisle, but it is expected to face a greater challenge in the House from conservatives who view it as a tax increase. President Obama has expressed his support for the bill, which does not include businesses with less than $1 million in online sales. Current law stipulates that states can only require online retailers to collect sales tax on goods sold if the store has a physical presence in the state requiring the tax. Continue reading New Internet Tax Bill Passes in Senate, Moves to House