Senate Passes Internet Sales Tax Bill

Washington- Monday May 6, 2013, the U.S. Senate passed the internet sales tax bill named the Marketplace Fairness Act.“After 20 years, there is finally light at the end of the tunnel for our brick-and-mortar businesses,” said Rep. Steve Womack, R-Ark., the bill’s House sponsor, according to the New York Times. “Saving local retail business depends on it, and it’s now up to the House to act.”

The bill will now have to pass the House where it could face more resistance that it did in the Senate. If it does become a law, individual states will still have to meet some requirements before they can compel companies to pay state sales tax. They must simplify their tax processes for collecting state taxes.