Bargain-hunters beware: U.S. top court lets states force online retailers to collect sales taxhttps://www.reuters.com/article/us-usa-court-taxes/u-s-top-court-lets-states-force-online-retailers-to-collect-sales-tax-idUSKBN1JH23B …
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The Wayfair ruling opens the door to a new revenue stream to fill state coffers - up to $13 billion annually, according to one federal report - while imperiling a competitive advantage that e-commerce companies had over brick-and-mortar rivals:https://reut.rs/2K5Tl6u
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Although Amazon was not involved in the case & already collects taxes on direct purchases, states can now press to collect more taxes on sales made by third-parties on Amazon's platform
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BACKSTORY: I went to South Dakota in February (!) to bring you this:https://www.reuters.com/article/us-usa-court-taxes/south-dakota-urges-supreme-court-to-click-buy-on-internet-sales-tax-idUSKCN1GP1DI …
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By the way, someone did actually write a law review article called "Netflix and Quill," so bravo for thatpic.twitter.com/vDjitM1hL7
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The state of play in terms of the major Supreme Court cases this term with 10 rulings left: http://tmsnrt.rs/2y3eCs6 via
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UPDATE - the latest on today's big ruling: U.S. top court lets states force online retailers to collect sales taxhttps://reut.rs/2K5Tl6u
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Via
@Reuters: Shares of Avalara, a company that provides sales tax software, shot up after today's Supreme Court ruling1 reply 1 retweet 3 likesShow this thread -
Wayfair's bumpy ride today. The sharp drop came when the Supreme Court announced its rulingpic.twitter.com/1jVInjy5jZ
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Online sales tax ruling is a big win for states but legal fights set to continue as new laws are enacted. Latest story: Supreme Court lets states force online retailers to collect sales taxhttps://reut.rs/2yv9qxX
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Throughout the South Dakota v. Wayfair fight and even today following the ruling, Amazon has not commented at all despite being by far the biggest online retailer
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