201211.27
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Could This Be The Last Cyber Monday?

by in Compliance

2012’s Cyber Monday could be the last year as a tax holiday for shoppers
across the country.

Congress is close to passing a federal law that would

force consumers to pay. Although some gear it could discourage online shoppers, online sales
tax collection is gaining momentum from state governments that are strapped
for money and looking for new revenues.

The convenience of online shopping is you can do it from home. According to
Steven Aldrich, CEO of Outright.com, “The key is that when consumers are
looking to buy a particular item, regardless of what it is, they are first
searching on the web to find it.”

Online sales in the third quarter rose 17.3 percent from the previous year,
compared to total retail sales, which rose 4.6 percent, according to the
U.S. Commerce Department.

ComScore, a digital analytics firm, forecasts online sales will rise another
15-18 percent during the holiday shopping season. Cyber Monday could enjoy
a 30 percent boost in online spending from last year.

$23 billion in revenue could be generated if online sales tax is collected.