Business Seeks Benefit of Internet Sales Tax
COLUMBIA- The Market Place Fairness Act of 2013 would no longer allow tax free online shopping. The bill would cause online retailers to charge sales tax on items sold in states that the biasness doesn't have a presence in.
Nic Parks, President of The Pinball Company in Columbia does 98 percent of his business online. In regards to the bill, "I don't think that it's the right approach. I think that politicians are going to frame it as a way to level the playing field between me and traditional brick and mortar retailers," said Parks.
Over the past decade, Missouri lost approximately $468 million annually in online sales tax, according to MU researchers. Mike Brooks, President of Regional Economic Development Inc., said this bill could have a greater impact then that of just online consumers. "From the standpoint of the community collection of those sales tax would provide a significant positive impact on Columbia," said Brooks.
Parks said he uses the no sales tax as a selling point for his business. This is clearly stated on the front page of his website in bold letters. Overall, he said he feels there is a way to overcome the change. "If you really sell a good product that customers want, I don't think it will effect our business too much," said Parks.
The U.S. Senate is currently debating the bill and a vote is expected later this week.