Etsy also said this ruling opens the door for Congress to act. Volume 8. By Alessandra Malito Reporter. Get a daily roundup of the top reads in personal finance delivered to your inbox. Home Personal Finance. Brick-and-mortar businesses suffer a competitive disadvantage because they must collect sales tax when some online vendors do not, according to Pew.
By Alessandra Malito. Walmart Inc.
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Sign up here. Volume 7. This ruling, however, will likely change the dynamics of small online businesses too.
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These internet retailers are now looking to Congress to standardize the ways in which they must collect and pay sales tax. States have lost billions of dollars because of Quill, studies suggest.
Amazon shares fall after Supreme Court ruling on sales tax, as brick-and-mortar retailers gain. Also see: Without such revenue, however, states face budget deficits and may be forced to cut publicly-funded programs or seek money from other sources.
Small businesses selling goods on these sites will charge their customers any additional sales tax. MarketWatch Partner Center. Volume 3. Advanced Search.
In the 5-4 decision , Justice Anthony Kennedy said the internet has completely changed the way people buy and sell goods. The company already increased the fees it charges its sellers earlier this month, which will allow Etsy to increase direct marketing spending and make investments in new features such as customer support, the company told MarketWatch. Alessandra Malito is a personal finance reporter based in New York.