What’s New – Marketplace Fairness Act

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Fairness-actMarketplace Fairness Act – if you haven’t heard of this legislation yet, this will soon impact every merchant that sells goods and services online.  This bill was overwhelmingly passed by the Senate and will likely be approved by the House soon.  When in effect, all ecommerce companies will be required to assess, collect, and pay sales tax to the more than 13,000 tax jurisdictions in the country!  How the heck can I be expected to comply with this law you might ask?  By engaging with Certified Service Providers who can provide the software which integrates with your shopping cart that will provide real time updates on tax rates, manage the tax billing to the merchant each month, and facilitate the tax payments to every state, county, or state agency.   This legislation was destined to happen as bricks and mortar retailers have been crying foul for losing business to online stores and because government agencies have had to give up tax revenue as such sales have shifted online.   Dharma has your back and will provide further guidance as developments become available.