Some interesting info on the states that are/ going to be charging sales tax on internet transactions I thought I'd share.
QUOTE
Online merchants will collect and remit taxes for sales originating in any of 11 states that have fully amended their state laws to comply with the project's standards. In the other seven states, collection is optional until their tax codes are brought into compliance. In either case, taxes that retailers collect are based on the rates in effect where the buyer lives and retailers will be compensated for the cost of collecting and remitting that revenue to the states.
More than 30 major retailers already have agreed to join the program, Diane Hardt, of the Wisconsin Department of Revenue, told United Press International.
Online sales accounted for more than $104 billion in 2003 and state and local governments lost an estimated $15.5 billion in revenue, because they could not effectively collect sales and use taxes on e-commerce purchases, according to a report commissioned by the National Governors Association and the National Conference of State Legislatures.
Full members of the project include Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, North Carolina, Nebraska, Oklahoma, South Dakota and West Virginia. New Jersey will become a full member Oct. 1. Arkansas, North Dakota, Ohio, Tennessee, Utah and Wyoming are associate members. Nevada and Hawaii are in negotiations to join, Hardt said.
More than 30 major retailers already have agreed to join the program, Diane Hardt, of the Wisconsin Department of Revenue, told United Press International.
Online sales accounted for more than $104 billion in 2003 and state and local governments lost an estimated $15.5 billion in revenue, because they could not effectively collect sales and use taxes on e-commerce purchases, according to a report commissioned by the National Governors Association and the National Conference of State Legislatures.
Full members of the project include Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, North Carolina, Nebraska, Oklahoma, South Dakota and West Virginia. New Jersey will become a full member Oct. 1. Arkansas, North Dakota, Ohio, Tennessee, Utah and Wyoming are associate members. Nevada and Hawaii are in negotiations to join, Hardt said.
to update the software to add the thousands sales tax rates that will need to be set up as this goes into force?