Many Online Businesses Will Need to Collect Sales Tax

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By the Price of Business Show, Hosted by Kevin Price.  The Price of Business is a media partner of this site. 

The recent Supreme Court decision, South Dakota v. Wayfair, in favor of South Dakota, will mean that many online businesses will need to collect sales tax on their out-of-state sales. Very small business will likely be exempted.

Kevin Price interviewed a spokesperson from Kiplinger Newletter.

Will businesses now need to collect? The Tax Answer Company — TTRUS — said in a statement: “In South Dakota, the answer is clear.  If your company sells more than $100,000 or has 200 or more separate transactions for the delivery of goods and services into South Dakota in a year, then your company must collect sales tax now.

“In other states with laws similar or identical to South Dakota – the answer is also clear – If your company sells more than $100,000 or has 200 or more separate transactions for the delivery of goods and services into those states in a year, then your company must collect sales tax now.

“In other states without laws similar to South Dakota – follow the law (if it exists) and contact a tax expert if there is no law or you are not sure whether your business activities fall within the law.”

https://www.kiplinger.com/article/business/T062-C021-S010-supreme-court-internet-sales-tax-ruling.html

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