Implications Of Passing A Senate Bill Enacting An Online Sales Tax

The Senate Bill Enacting An Online Sales Tax

Congress is currently moving forward with a Senate bill that could place sales taxes on buyers who place orders for items housed out of state. This proposed law applies to e-commerce sites, and the main goal of this online sales tax is to generate revenue for cash-strapped state governments in jurisdictions where online retailers are headquartered. The bill has its opponents among online retail giants such as eBay, and it also has supporters among the President and a number of state government officials.

Only online retailers that gross more than … Read more at 2011 Tax.

Maryland Senate Votes To Increase Tax Rates For High Income Earners

From Tax Cuts to Tax Increases – Maryland Senate Votes to Tax the Rich More

Maryland residents who earn more than $500,000 annually will have to pay more taxes after the Senate voted to increase tax rates for the rich. Many people see this as class warfare launched by liberals.

The proposal dubbed the “millionaire’s tax” was approved after liberal-leaning Senators refused to approve a smaller tax rate for all taxpayers unless the rich took a special hit.

More than 15,000 households will be affected by the new law. Couples filing jointly will have to pay at least 2,752 … Read more at 2011 Tax.