Online Tax Tangles
Revenue that Virginia officials were anticipating from online sales tax legislation in Congress is now in doubt.
Recently the U-S Senate overwhelmingly approved a measure to make it easier for states to collect sales taxes from online purchases. Since then lobbyists for big online retailers and small business owners alike have stormed House office buildings trying to sway your local representatives.
The reason for the intense lobbying effort is that billions of dollars are at stake. Virginia officials expect to reap more than $250-million from online sales tax revenue.
That is, if the bill passes the House, which is far from guaranteed. House Speaker John Boehner and other party leaders oppose the Senate bill. And conservative groups are labeling the proposal as a new tax.