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How Online Sales Tax Impacts Different eCommerce Models

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Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. That all changed last year with the Wayfair vs. South Dakota ruling that sought to level the playing field for brick-and-mortar stores. Will this increasingly regulated online sales tax environment affect this growth?

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Remote Seller Taxation: A Job For Tax Automation

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Aftershocks from the South Dakota v. Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. To date 43 states and Washington, D.C. Implementation.

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Who Pays A Higher Price For Online Sales Tax?

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The 2018 South Dakota v. Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October.

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Casino Reopenings Draw In Gamblers Despite Online Gaming Surges

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Over in Deadwood, South Dakota, 13 of the 21 casinos in have opened again. The mayor, who is also a table games manager at a local casino and hotel, said per the report that he has come across people traveling from states that are close by as well as those that have come from Florida, Texas, New Mexico and New York.

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Deep Dive: The Unfolding Legacy Of South Dakota v. Wayfair

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Governments rely on tax revenues to fuel the vital services they provide to residents and businesses – from firefighting and public education to water system repair and road maintenance. Retail sales taxes have long been key sources of state governments’ budgets and have been their greatest single stream of revenue since the mid-1900s. .

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Wells Fargo’s Q2 Disappoints After Scandals

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The current quarter included a 10-cent per share income tax expense. . Second-quarter net income was impacted by a $481 million one-time expense resulting from a key Supreme Court decision related to online sales, South Dakota v. Wayfair, which impacted how states may collect taxes on sales made by out-of-state sellers. .

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What The Streamlined Sales And Use Tax Agreement Means After Wayfair

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Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

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