Filed under: Business, World wide web, News
You know how if you live in most says in the US you don’t have to pay sales tax on items bought online? Yeah, that’s about to change for about 19 million residents of New York Say. Legislators have approved a bill that requires huge online stores to collect sales tax for anything shipped to New York.
Technically, the tax isn’t new. Consumers were supposed to be reporting these purchases on their tax returns all along, but nobody really does. The law just passes the burden from consumers to retailers.
While the bill doesn’t become a law until Governor David Paterson signs it, he’s expected to do so soon, as the measure is expected to raise $50 million and help balance the say budget.
Companies that collect less than $10,000 per year from sales to New Yorkers will be exempt. But something tells us that means you’ll be paying taxes on purchase from huge stores like Amazon.
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