(CMR) Florida will require all out-of-state retailers to charge Florida residents an online tax as of July 1. It is expected to raise an estimated $1 billion a year in revenue that will help pay for a tax cut for some businesses.
On Monday, Governor Ron DeSantis signed into law the plan that will require most retailers selling more than $100,000 a year online to start collecting Florida’s 6% sales tax at the point of sale.
In June 2018, the US Supreme Court ruled that state and local governments had the right to collect sales taxes from purchases made online, no matter where the seller was located. While several states implemented the tax, it was delayed in Florida as both Republicans and Democrats argued against it.
According to Forbes, Republicans were worried they could be viewed as increasing taxes on consumers, while Democrats opposed this particular bill, arguing that it was a break for businesses at the expense of consumers. However, Florida business groups have lobbied for years to require out-of-state retailers to collect and remit sales taxes, saying it is a matter of fairness.
- Fascinated
- Happy
- Sad
- Angry
- Bored
- Afraid
