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Illinois passes one-of-a-kind swipe fee restrictions

American Banker

The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be subject to Illinois sales taxes.

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The State-By-State Complexities Of Sales Tax Compliance

PYMNTS

Retailers that want to sell merchandise nationwide must pay attention to how each state’s tax code treats their goods. Data: 2018: Year of the Wayfair ruling, which limited retailers’ physical presence to tax-exempting states. percent: Tax rate imposed on online sellers in Illinois starting in 2020. $4M:

Taxes 131
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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

PYMNTS

The eCommerce retailer has reportedly registered many entities in the country in recent times. The social media firm purportedly contravened an Illinois state law via a “Tag Suggestions” functionality that enabled users to identify their friends from photos put on the platform in the past.

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Amazon Faces EU Antitrust Charges Over Seller Data

PYMNTS

Amazon didn’t comment to FT and has in the past downplayed antitrust concerns, pointing to the many retailers with private label goods. . PYMNTS ’ most recent big tech compliance tracker indicates that investigations into Amazon’s business practices as well as other big tech firms have been ongoing in the EU and the U.S. In the U.S.

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As The Online Tax Man Cometh, Will Smaller Retailers Embrace Marketplaces?

PYMNTS

The ruling meant that online retailers could be mandated to collect sales tax — and taxes can be levied by states on firms that do not have physical presence in those states. One consideration is the fact that economic presence within a state means that retailers have to collect and remit taxes in those states.

Taxes 116
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A ‘Diaper’ By Any Other Tax Code: The Complexities Of Selling Across State Tax Laws

PYMNTS

Even the ways retailers package their items can make a difference in their taxes. This month’s Next-Gen Sales Tax Tracker examines these compliance complexities and their impact, as well as ongoing efforts to streamline how retailers can fulfill their obligations. Easing tax compliance helps governments and retailers alike.

Taxes 130
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When One State’s Tax-Exempt Necessity Is Another’s High-Tax Discretionary Purchase

PYMNTS

Incontinent adults frequently become homebound and isolated, avoiding socializing or even visiting doctors if they do not have enough clean diapers, Adam Greenberg, president of incontinence products retailer NorthShore Care Supply , said in a separate PYMNTS interview. “If Managing compliance. Sales taxes’ price tags.

Taxes 146