do you think many small businesses are going to pull out of space like amazon so they don't have to do the heavy lifting of complex tax tracking? Do these platforms offer a way to collect that kind of data at present? Radical change for the online landscape or just complicating business as usual?
When I was doing background on that sales tax op ed thing I did.
There are states right now that have statutes on the books that say that out of state sellers are required to collect, report and remit sales tax on any sale to that states residents. Those statutes have been tied up in lower courts, and I think when this Wayfair case went to the supreme court, the cases were tabled waiting for a ruling - now with the ruling I expect them to be dismissed.
What I did find though when I came across those state statutes, was that some of the states had a floor - sell less than this amount, and no sales tax reporting is required. The issue is that is not consistent state to state presently - hopefully they will get together and set a common reporting floor. Doubtful though.
But some of them, there is always a but, did have the requirement to report sales below that floor, while not remitting - how that would work I can not imagine since you must have collected sales tax if you sell via one of the major marketplaces like amazon.
Keep in mind, amazon, ebay, etsy, et al WILL report sales to the states, and will add that sales tax to your sale, so part of the deposit you receive will be sales tax due to some other state. Except of course for the states they have an agreement with to collect and remit.
What a mess this is going to be. It can be tracked in desktop, difficult but doable
impossible in QBO without auto sales tax, and of course with auto sales tax too.
If intuit thinks they paid a lot when the IRS got them for false returns using turbo tax (lack of internet security by the way), this is going to be worse.