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Taxation and the Internet
With the rising popularity of online shopping, many state governments are growing more and more concerned with the lack of proper law governing taxation. A typical, traditional purchase requires payment of state sales tax at the point of sale but with online purchasing this location is nonexistent. Since buyers and sellers are located anywhere in the world is becoming increasingly harder to establish law requiring the payment of sales tax. Regardless, many states are implementing new laws to help curb tax revenue losses.
Massive benefits come from the collection of sales tax. While some states do not require it, others use its revenue as a primary source of income to pay state employees, build roads, and improve state education. With e-commerce profits climbing above $150 billion a year, massive revenue amounts could be collected and used to further fund state activities. Surprisingly, little has been done to collect on those numbers.
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Title: Taxation And The Internet
Approximate Word Count: 880
Approximate Pages: 4 (250 words per double-spaced page)
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