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. •
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.