Supreme Court Rules to Allow States to Collect Sales Tax from Online Retailers
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In a landmark ruling last Thursday, the US Supreme Court decided that states may compel online retailers to collect sales taxes, which could potentially run up to billions.
Justices voted 5-4 in a case involving Wayfair Inc, Overstock.com Inc and Newegg Inc, overturning a 1992 high court precedent that prohibited states from requiring businesses with no “physical presence” there, like out-of-state online retailers, to collect sales taxes.
President Donald Trump, who has frequently bashed Amazon.com, exclaimed his approval of the decision and tweeted – “Big Supreme Court win on internet sales tax – about time!”
Source: Reuters