Say It Ain’t So…Taxes on Items Bought on the Internet?
If you’ve gotten used to paying less when you buy online, you should expect that to change after a new Supreme Court decision that says states can now require internet retailers to pay a sales tax.
According to an article on thepennyhoarder.com, your online purchases could jump in price after the ruling from the Supreme Court.
In the past the online retailers didn't have to charge you sales tax unless they had a storefront in that state. It's changed that big retailers that make more than $100,000 in annual sales, or make at least 200 transactions in a state, will be required to pay a sales tax.
For the consumer this will make it to where the cost of that TV, computer or bicycle may stay the same price online until they tack on the sales tax; thus, possibly making it about the same price that you would pay in store.
The online story states that in most cases, the sales taxes only add up to a few extra dollars for you, but for state and local governments, that can mean millions in extra tax revenue — and nationally, it’s billions of dollars.
Time will tell on how quickly you'll see the changes.