Internet Taxes.. New York ready to take the plunge.

Spend some time online shopping and you will notice the ease of researching different businesses for the same item. Benefits of shopping online also include: comparing shipping costs, saving money on gas by not driving from store to store and at times saving money on taxes. Well maybe not much longer for some shoppers that live in New York. New York is working on passing a law to collect taxes from web retailers that sell product to New York consumers. Once New York gets to take the big plunge, one would assume that other states would jump in as well. Amazon.com took a stance recently by suing New York State regarding the law. It is reported that New York may pull in an extra $50 million by passing the law for a small amount of work. It should be interesting to see if major & small online businesses can slow down the trend and put the brakes on it before it spills to other states.

For more info:
New York Times