The Chicago Tribune, in today’s editorial, “Buy online? Pay the tax,” lays out the argument for supporting the Marketplace Fairness Act, a federal proposal that would require virtual merchants to collect sales taxes just at brick-and-mortar businesses do now. The idea is to level the playing field among all retailers.
The bill has been approved in the U.S. Senate and the issue now goes to the U.S. House where it may face a tougher road. The editorial urges the House that it’s time to move on it.
“Online businesses will adjust to the new landscape in no time. Every merchant should be treated equally when it comes to collecting sales tax, no matter where and how they operate.
The Illinois Association of REALTORS® supports the Marketplace Fairness Act because it would give states the authority to manage their sales tax laws but also protect the smaller business owner by providing an exemption for concerns with sales up to $1 million. Log in to read more on sales tax fairness in the IAR Action Center.