November 25, 2012

IF BRICK-AND-MORTAR RETAILERS HAVE THEIR WAY, the next Cyber Monday will be taxed.

Cyber Monday is the marketing term for the Monday after Thanksgiving, when many online retailers offer steep discounts and promotions. The day is a counterpart to Black Friday, one of the biggest shopping days of the year.

Under current law, states can only collect sales taxes from retailers that have a physical presence in their state. People who order items online from another state are supposed to declare the purchases on their tax forms, but few do.

This’ll happen sooner or later. If it has to happen, I favor a single uniform tax, to get rid of the complexities of trying to account for city and county taxes across the nation.