Court Rules Online Stores Will Collect State Sales Tax
- 6 years ago
U.S. states could now make billions in online sales tax revenue.
The Supreme Court ruled Thursday that e-commerce companies must pay state sales tax.
The ruling came about in the case of South Dakota against Wayfair Inc and two other online retailers.
States can now create legislation requiring companies to collect sales taxes for goods bought online.
Reuters reports that as many as 24 states could see tax revenue gains of at least 1 percent.
The Supreme Court ruled Thursday that e-commerce companies must pay state sales tax.
The ruling came about in the case of South Dakota against Wayfair Inc and two other online retailers.
States can now create legislation requiring companies to collect sales taxes for goods bought online.
Reuters reports that as many as 24 states could see tax revenue gains of at least 1 percent.