Supreme Court ruling may boost Virginia tax income by $300M

The eBay Inc. application is seen on an Apple Inc. iPhone in this arranged

The high court ruled Thursday to overturn The Supreme Court says states can force online shoppers to pay sales tax.those decisions. The nonpartisan Government Accountability Office estimated last year that collecting sales tax on all remote sales could bring state and local governments in Florida anywhere from $486 million to $758 million a year. In Wayfair v. South Dakota, the Court concluded that the "sales tax nexus" previously articulated by the Court in Quill v.

In pre-internet times, there was a certain logic to this: Offline tax collection was complex and burdensome - especially since sales tax is often levied not just by states but by municipalities - and consumers did the vast majority of their shopping at brick-and-mortar stores anyway.

President Trump praised the ruling via Twitter: "Big Supreme Court win on internet sales tax - about time!" Lawmakers can model the South Dakota law that was at issue before the Supreme Court, which would require retailers to collect the tax only if they delivered more than $100,000 of goods or services into the state or had more than 200 deliveries a year.

"We are expecting the various States to start issuing statements and guidance for their in-state sellers, as well as to serve as notice to out-of-state sellers, regarding that states understanding of the ruling, relative to the states' current statutes". Rocky Cummings of BDO the accounting, tax, and advisory firm said: "There was very little voluntary compliance with the use tax".

This law affects IL shoppers that check out of shopping sites without paying sales tax, and the sites are now required to add them.

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Local attorneys also suggest that small online business retailers consult with a CPA or tax lawyer because laws change and software might not keep up. Some states have exemptions for collecting sales tax. "With our state's growing economy, I don't want to reach into West Virginians' pockets when we don't need to", he said.

Most sales taxes are called "sales and use tax", because consumers generally have a legal obligation to report and pay use tax when sales tax isn't collected on a sale. Online retail has grown at the expense of physical stores. Oklahoma has benefited to the tune of about $25.9 million, he said, while OKC has seen an increase of $4 million and Moore has netted about $320,344 in additional taxes. Previously, these businesses had to charge state sales taxes on top of their base price in what many consider an unfair advantage since online retailers largely ignored the requirement. He believes the new ruling will "level the playing field" for brick and mortar stores in West Virginia. The ruling authored by Justice Anthony Kennedy revived a 2016 law that required larger out-of-state e-commerce companies to collect sales tax a law that retailers fought in court.

"What this really does is it provides some fairness and equality to your local merchants".

The state government also is expected to receive hundreds of millions of dollars through online sales tax, according to estimates from Georgia State University's Fiscal Research Center.

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