Forcing online retail giants like Amazon and Overstock to collect sales taxes from customers would require a tradeoff that Mississippi is not yet prepared to make.
On one hand, the state could gain in the neighborhood of $300 million annually.
But on the other, it would need to revamp its sales tax system to meet the specification set by Congress, the only governmental body authorized to mandate an across-the-board sales tax on cyber sellers.
“Our sales tax code would have to be completely rewritten to comply” with what is known as the Streamlined Sales Tax Agreement, a blueprint adopted by 44 states and the District of Columbia to simplify sales and use tax collection. Mississippi has so far declined to become…
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info