Posted on behalf of Harbin & Burnett on Jun 21, 2018 in General Interest
The Supreme Court, in a 5-4 ruling, held that states can collect sales tax from most online retailers. This closes a loophole that many brick and mortar store owners claimed gave an unfair advantage to online retailers such as Amazon. Previously the Court held that a company needed to have a physical presence before a state could require them to collect taxes. South Carolina already has a law that requires the purchaser of items to pay the sales tax, but this would require the seller to collect the tax.
The biggest impact could potentially be felt by smaller online sellers, such as EBay vendors or other smaller stores. They will now be required to know the tax rate for numerous jurisdictions.
For more information: USA Today.