The state of Colorado recently passed a law that requires online retailers to notify the state of all purchases made by residents so it can collect sales tax from them. This seems to go against a Supreme Court ruling that said retailers who do not have a physical presence in a state do not have to collect and remit sales taxes there.
Opponents of the law say this is the first domino to fall and, if this works to generate more sales tax in a struggling economy, many more states could follow.
You can read the article BY CLICKING HERE, then ponder how it could affect your business in the future. If you sell online to a Colorado dentist and don't have an office in the state, your business is being discussed here. Be sure to read the quotes by Overstock.com CEO Jonathan Johnson near the start of the article.
What do you think? Let us know.
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