Supreme Court Ruling May Benefit Big Retailers
Good news for large online retailers! With its recent Wayfair ruling, the Supreme Court has paved the way for widespread collection of sales taxes by overturning its 1992 Quill decision, which only required that retailers collect and remit sales tax if they had a "physical presence" in the state where the sale took place. Erasing the “physical presence” requirement means more remote sellers will need to begin the process of collecting and remitting sales tax on transactions.
This could drive more retailers to use third-party sellers or marketplace facilitators, providing fresh opportunities for many e-commerce giants. According to Wired.com, big online retailers (many of whom are already collecting and remitting sales tax on their direct sales) could turn this ruling into a new revenue stream, by helping smaller retailers with the process and charging a fee for the service.
Click here to learn more about the benefits.
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