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H.R. 5267, The Business Activity Tax Simplification Act of 2008 (3 comments ↓ | 3 wiki edits)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 5267 would regulate certain State taxation of interstate commerce.
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Visitor Comments
Jim Monteros
July 15, 2008, 10:07pm (report abuse)Our company sells products to customers across the country. We only have 11 employees. We currently have to file 356 tax returns witht he associated quarterly reports in 26 states. It's not the taxes but the burden of all the paperwork required by the cities, counties, sales tax boards, state income tax authorities that is killing our business. Congress needs to pass a law forbiding any government from taxing a foreign corporation that has no employees or offices in their location. Just selling product to their residents should not be enough of a reason to require a coporation to file a tax return and pay taxes in that location. Small companies like ours can not handle the paperwork burden of every city, county and state asking for a return.
Bob Baker
July 15, 2008, 10:13pm (report abuse)There are 20,000 cities in the country. If this bill does not pass every business that sells nationally may be required to file 20,000 tax returns per year.
The US economy will be seriously damaged as cities seek more ways to increase revenue as conditions get tougher. If we don't pass this bill our economy will tank.
Marge M
August 19, 2008, 3:08pm (report abuse)Streamlined sales & use tax and common nexus standards for all 50 states will make compliance much easier for both sides while helping taxing authorities collect the revenue they are currently denied by internet sales by companies without nexus.