By Erika Winters
Bipartisan support for federal Internet sales tax legislation marks a bold political shift. The Wall Street Journal's Monica Langley reported that "both parties are attempting to speed up action on a bill they wrote to give states authority to compel online companies to collect sales taxes." The legislation would result in a more expensive online shopping experience for consumers but would potentially benefit cash-strapped states with an estimated $23 billion in revenue.
JCK's Rob Bates puts it this way, "This legislation arguably doesn’t invent a new levy; it just regulates one that’s almost never collected. (Yes, you are supposed to list all your online purchases on your income taxes. No, I haven’t spoken to any person who’s ever done this.)"
