An innocuous-sounding bill before Congress, the so-called Marketplace Fairness Act, has the potential to crush many of Connecticut’s small businesses and stifle entrepreneurs.
The bill was handily passed in the Senate by a bipartisan majority and is now before the House. Under the measure, all “remote sellers” (including online stores and print catalog merchants) must collect sales taxes in every state and all taxing entities where they have customers. Businesses with less than $1 million in revenue would be exempt.
I’m all for fairness, but this bill will make the work of small businesses difficult and likely eliminate a key source of their revenue.