The Senate has approved, by a 69 to 27 vote, the Marketplace Fairness Act of 2013. The bill would allow a state to enforce collection of state and local sales taxes on most remote sellers.The bill exempts sellers with less than $1 million in annual sales from the rules and requires states to provide information regarding the taxability of items, provide software free of charge for remote sellers that calculates sales and use taxes due on each transaction at the time the transaction is completed, that files sales and use tax returns, and that is updated to reflect rate changes, and among other things, provide simplify administration and reporting requirements. Despite the majority in the Senate, passage is far from assured. The bill is expected to have a harder time in the House.
Now is the time to contact your congress critters to let them know your opinion.
Kenneth Hoffman of K.R. Hoffman & Co., LLC is a highly sought after tax and business counselor. Counseling Entrepreneurs, Professionals and Select Individuals who are struggling with ever changing tax laws and who are paying too much in taxes. All the while he is protecting his clients from the IRS and other taxing authorities using proactive tax planning strategies, ensuring compliance with minimal tax liability.
Discover how I can help you overcome your tax and business challenges. To start the conversation or to become a client, call Kenneth Hoffman at (954) 591-8290 Monday - Friday between 8:30 a.m. to 1:00 p.m. for a no cost consultation, or drop me a note.