Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.
This week Dave and Mark discuss the proposed Internet tax in Congress and implications for state revenue, sales tax, and brick-and-mortar stores.
When to Listen
You can hear The Bottom Line each Friday at 5:50pm.
Senator Jack Reed and Governor Lincoln Chafee are urging Congress to pass the Marketplace Fairness Act. The bill would require online merchants to pay state sales taxes. Chafee and Reed say it’s a matter of fairness.
Reed and Chafee stood side by side in a West Warwick furniture store to urge Congress to allow a vote on the Marketplace Fairness Act. Chafee said the bill – which would require online merchants to pay state sales taxes – would add $70 million a year to the state treasury.
Senator Jack Reed and Governor Lincoln Chafee are asking Congress to pass legislation that allows state to collect taxes from online purchasing.
Senator Jack Reed is a co-sponsor of the “Marketplace Fairness Act,” which would open the door for states to collect sales taxes from online retailers. Right now it’s up to shoppers to pony up when filing their income taxes.