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WASHINGTON – Sens. Jack Reed and Sheldon Whitehouse are backing an online sales tax bill, The Boston Globe reported.
The senators were scheduled last week to meet with the owners of independent Rhode Island business Learn All About It Toys to discuss the legislation, which would require retailers who sell online and catalog sellers to collect state sales taxes.
The move has the backing of some brick-and-mortar businesses, who complain that online retailers gain an advantage by skirting rules for collecting those taxes.
According to The Globe, Reed’s office says the bill would generate an extra $70 million annually for the state of Rhode Island. Online retailers with less than $500,000 annually in remote sales would be exempt. •