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State Losing Potential For Millions In Online Sales Tax Revenue

State Losing Potential For Millions In Online Sales Tax Revenue

Cyber Monday may be have been a great deal for shoppers and online retailers, but not for the state. Florida relies on the sales tax and most online retailers don't have to collect it. Amazon Dot Com is setting up shop in Florida which means they'll have to start charging the sales tax next year, but John Fleming at the Florida Retail Federation says that won't solve the problem. He says Amazon is only 10% of the e-commerce market. That leaves 90% who won't be collecting the state sales tax. Flemming says the state loses millions in tax money and local businesses lose sales to out-of-state companies because they have to charge more to cover the state tax.

 

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