Wednesday, May 8, 2013
A bill to let states impose sales tax on big online retailers passed the U.S. Senate Monday. Minnesota Sens. Amy Klobuchar and Al Franken voted for the Marketplace Fairness Act, as did many Republicans.
Why should online shoppers pay sales tax? Why or why not? Leave a comment below. You could pay the same sales tax for online purchases as you do for shopping at a physical store if a bill that passed the U.S. Senate Monday becomes law. The Marketplace Fairness Act would allow states to collect sales tax from retailers with more than $1 million in annual gross sales to out-of-state customers. Sens. Amy Klobuchar and Al Franken (both DFL-MN) voted yes, joined by 67 other senators including 21 Republicans. Minnesota Revenue Commissioner Myron Frans praised the Senate action in a press release: "This legislation levels the playing field for all those Main Street businesses in Minnesota and across the country. It also helps large retailers like…
Wednesday, April 10, 2013
Minnesota legislators are debating a new sales tax on licensed clothing, sports memorabilia and luxury suites to cover the state's share of Vikings stadium construction costs.
Do you want to pay sales tax on Twins, Wild and Timberwolves sports memorabilia and licensed clothing to help the State of Minnesota raise money to build the new Vikings stadium? E-pulltab revenues to fund the new Minnesota Vikings stadium have fallen short, so the Minnesota House of Representatives Taxes Committee is considering a new tax on sales of sports-related items to help fill the gap. Watch the House committee debate the issue at its Wednesday meeting starting at 12:30 p.m. above or at TheUpTake.org. The bill (see PDF) by Rep. Ann Lenczewski (DFL-Bloomington) would tax "'Sports memorabilia' ... items available for sale to the public that are sold under a license granted by any professional sports league or a team that is a …
Friday, March 8, 2013
Find out what the governor said he will change next week that will benefit area businesses.
On Friday morning, Gov. Mark Dayton told TwinWest Chamber of Commerce members that he will take a business-to-business sales tax plan out of his revised budget next week, according to media reports. MPR reported the governor "has heard a lot of concerns about his proposal to add sales tax to the services business sell each other." Last month, a tax policy expert told minnpost.com that extending sales tax to these services—such as accounting, advertising and legal—was not a good idea. “It is very rare when all economists agree,” said John Spry, a professor of business economics at the University of St. Thomas and an expert on state tax policy. “But I am still trying to find an economist who studies this area who thinks taxing business-to-…
Wednesday, January 23, 2013
Take our poll; then click on to our Patch stories below to see what legislators and others are saying.
Gov. Mark Dayton this week unveiled a proposed state budget and tax plan that would, among other things, lower Minnesota's sales tax from 6.875 percent to 5.5 percent but broaden it to cover more items such as higher-priced clothing, car repairs and other services. In his quest to avoid a projected $1.1 billion revenue shortfall, Dayton said his plan also includes raising the income on some groups of taxpayers (such as the state's 2 percent of highest-income earners). He is proposing to reduce property taxes and cut the corporate tax rate on businesses. (To see a Patch story and UpTake video of Dayton's speech, click on this link.) Bottom line: The governor said he wants to provide property tax relief, boost funding for K-12 education, …
Friday, January 18, 2013
In this week's Hot Topics conversation, we want to know how you feel about a bill that has been introduced in the State Legislature.
This week, the Senate Tax Reform Committee began working on measures, including one that would expand the sales tax base while lowering the overall rate by half a percent. Under the bill, shoppers would pay sales tax on individual clothing items costing more than $200 dollars. The first $200 would be exempt. The committee did not take action on the plan. The proposal was introduced last week by Sen. Terri Bonoff (DFL-Minnetonka), Sen. Chris Eaton (DFL-Brooklyn Center) and Sen. Ann Rest (DFL-New Hope). Watch committee testimony on the proposal in the attached video by MNSenateMedia. Do you think this plan is a good idea? Why or why not? Tell us your opinion in the comments area below.
Nick
1:57 pm on Monday, May 20, 2013
Actually, a great number of online companies are small businesses here in America. Amazon Marketplace is mostly small businesses, and there is Ebay, as well as many, many small businesses that sell through their own websites. It is much easier for an entrepreneur to start an online business as opposed to a brick-and-mortar business because of the very low overhead and the dropshipping that they … more ›