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Online Petition Supporting Main Street Fairness Act Launched
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The Federal Tax Authority, a private company working to launch a service to assist online sellers in collecting and remitting local and state sales tax, has created yes5660.com, an online petition that consumers and retailers can sign in support of the Main Street Fairness Act.
The Federal Tax Authority, a private company that is working to launch a service to assist online sellers in collecting and remitting local and state sales tax, has created yes5660.com, an online petition that consumers and retailers can sign in support of the Main Street Fairness Act (H.R. 5660).
H.R. 5660 would authorize the 24 states in the Streamlined Sales and Use Tax Agreement (SSUTA) to require remote retailers to collect and remit sales tax. The Streamlined Sales Tax Governing Board has designated the Federal Tax Authority as a “certified service provider.”
According to a press release issued by the company, once the Main Street Fairness Act becomes law, the onus will no longer be on consumers to track their online purchases and to remit the required use tax to their home states.
In addition, the Federal Tax Authority release noted that the Main Street Fairness Act benefits local communities by providing a way for them to receive more sales tax revenue, which pays for services such as schools, police, and libraries. The decline in sales tax revenue over the last 10 years is directly related to the increase in online sales. According to a 2009 University of Tennessee study, uncollected sales tax on online purchases will reach $8.6 billion this year alone.
Consumers and retailers who want to help protect consumers’ right to privacy can go to yes5660.com to find the Internet petition in support of the Main Street Fairness Act.