Navigating The Internet Sales Tax Laws

QUESTION:
I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

ANSWER:
I hate to burst your internet bubble, Katie, but they are within their rights to audit your business and demand payment of sales tax on items purchased on the Web.

Internet sales taxation has been a topic of contention even before Amazon sold its first book and Priceline booked its first flight.

One of the more controversial points is that no one, including our own government, seems to have a clue how to implement a fair and logical Internet taxation process.

With over 7,500 different local, county and state taxation systems in the United States, you can understand the controversy. In 1998, Congress did what it usually does when faced with a potentially explosive issue like Internet tax collection -- it decided to put off making a decision. Congress enacted a three-year moratorium on the collection of taxes to give an appointed advisory board time to come up with an acceptable solution.

That moratorium ended last year and opened the door for municipalities to begin collecting sales tax on their own.

Here in Alabama the sales tax collection department is airing radio spots asking Alabamians to step up to - and toss dollars into - the proverbial collection plate. The commercial kindly suggests that if I have purchased anything from an online retailer, I am honor-bound to proclaim such purchases and submit the appropriate sales tax to the collection department right away. They thank me in advance for my cooperation.

So, Katie, when the auditor shows up at your door the best thing you can do is smile politely and be totally forthcoming. The sales tax that you pay is a small price for the convenience of shopping online.

Now where did I put all those Amazon.com receipts?

Small Business Q&A is written by veteran entrepreneur and syndicated columnist, Tim Knox. Tim's latest books include "Small Business Success Secrets" and "The 30 Day Blueprint For Success!" Related Links: http://www.smallbusinessqa.com http://www.dropshipwholesale.net

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7 changes in income tax laws that come into effect from Sept 1  Economic TimesHere is the list of the seven main changes in tax laws that will come into effect from September 1.
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News18 Wrap: Sitharaman Announces Historic Corporate Tax Cut, Houston Flooded Ahead of PM's 'Howdy Modi' ...  News18News18 Wrap brings you some of the biggest stories on News18.com today to help you stay updated at all times.
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Govt Move to Cut Corporate Tax Will Boost Net Income of Companies, Says Moody's  News18New Delhi: Moody's Investors *Service* on Friday said the government's move to cut corporate tax rate will boost net income of Indian firms, and is a credit positive ...
Lower corporate tax will prop up earnings numbers: Nilesh Shah, Envision Capital  Moneycontrol.comReduction of corporate tax was the kind of stimulus which the industry and markets were waiting for, Nilesh Shah, MD & CEO, Envision Capital, said in an ...
What to expect from the Direct Tax Code  Forbes IndiaA report, which aims to overhaul the Income Tax Act, has not been released to the public, but its recommendations are expected to cover four primary areas.
Farm bodies exempted from 2% tax at source on payments above ₹1 crore  LivemintNEW DELHI : To give relief to the rural economy, the government has exempted agriculture produce marketing committees (APMCs) from the purview of the 2% ...
Is interest paid on foreign home loan tax-deductible in India?  Moneycontrol.comInterest on housing loan paid outside India can be claimed as a deduction in calculating income from house property, only if some important conditions are met.
College student tried to hack into Trump’s taxes by creating a fake FAFSA application  The VergeTwo college students are facing federal prison time for attempting to hack into President Trump's tax returns, as reported by CyberScoop. Andrew Harris, 24, and ...
Amid Slowdown, Cars Get Pricer Due To Road Tax Hike In 9 States  ZigWheels.comPrice hike ranges from Rs 5000 to Rs 57000 (on-road) depending upon the model.
By paying tax Shivakumar cannot turn tainted property into untainted, ED tells court  India TodayJust by paying the tax on it Congress leader D K Shivakumar cannot turn his tainted property into untainted one, the Enforcement Directorate said Thursday ...

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