JA Supports Introduction of Marketplace Fairness Act of 2015
March 15, 15
(IDEX Online News) – Jewelers of America (JA) has said that the introduction of the Senate’s Marketplace Fairness Act of 2015 (MFA) keeps the “momentum” on the issue of tax collection for online businesses alive.
The organization said that it continues to fight for legislation that would close an Internet sales tax loophole that has hurt traditional jewelry businesses.
The MFA gives states the option to require the collection of sales and use taxes already owed under state law by out-of-state businesses, rather than rely on consumers to remit those taxes to the states.
Currently, brick-and-mortar businesses collect sales and use taxes from customers who make purchases in their stores, but many online and remote retailers do not.
If the act becomes law, the measure would give states the option to require the collection of these taxes by out-of-state sellers if the state simplifies their sales and use tax systems.
The Senate passed a previous version of the bill in 2013.
Jewelers of America is also a member of the Marketplace Fairness Coalition, a group of businesses and associations that support e-fairness.