Local Businesses Support the Marketplace Fairness Act
JEFFERSON CITY- Customers won't see much of a change when they checkout with online purchases due the Market Place Fairness bill, but they could see the results in other ways. The bill will enforce the collection of sales tax from online businesses. This additional revenue could impact both businesses and communities across Missouri.
Local business owner John Pelzer recently went to Washington D.C. to show his support for the Marketplace Fairness Act. Pelzer was selected by the Missouri Retail Association to represent all business owners in Missouri. While in Washington he spoke with many state and national senators. "I went to explain from a retail owner standpoint exactly how this effects me," says John Pelzer. Owner of Busch's Florist.
The Market Place Fairness Act recently passed the U.S. senate. The bill would require businesses to collect sales tax for online sales. This bill will not create new taxes or increase current taxes. This bill is also supported by several national businesses such as Amazon and Best Buy.
The impact of this bill would not only affect businesses, but community members themselves."It provides a means for state and local governments to collect additional revenue to fund certain public projects." said Andrew Wesemann, an MU researcher. A study done by MU said that over the next four years the state could lose out on over $1 billion in revenue.
Pelzer says he supports this bill to help limit the completive disadvantage his company has to solely online retailers. "Those of us in brick and mortar businesses on Main Street support our school systems with taxes," says John Pelzer. He says that this bill will not effect his customers wallets. It simply is a tax collection issue.
The bill is now in the U.S. House. No date is set for when this bill will be voted on.