Supporters of the Marketplace Fairness Act, including co-sponsor U.S. Sen. Ben Cardin, D-Md., say the failure to collect taxes on Internet sales is only taking money out the pockets of retailers with a physical presence. Improved Internet tax law, said Cardin, would’ve helped Maryland capture $375 million in revenue, enough to solve the doomsday budget problem in Annapolis and eliminate the need for the special session of the legislature.Read More
Tag: Internet tax
As legislative staff presented over $1 billion in potential new revenues from taxing professional services and Internet sales in Annapolis Tuesday, Senate leaders insisted repeatedly that they weren’t actively considering sales tax hikes. “This is an effort in the main part to be prepared for any situation,” said Senate Budget and Taxation Committee Chair Ed Kasemeyer, D-Howard. “They’re not priorities. They’re a list of potential revenue sources.”Read More
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