On Friday, July 29, 2011, Sen. Richard Durbin (D-IL) introduced S. 1452, the Main Street Fairness Act, federal legislation that would allow states that are party to the Streamlined Sales and Use Tax Agreement (SSUTA) to require vendors to collect taxes equally on retail sales whether they occur at storefronts or online. Sens. Tim Johnson (D-SD) and Jack Reed (D-RI) joined as original cosponsors of Durbin's bill.
Also on Friday, Reps. John Conyers (D-MI) and Peter Welch (D-VT) introduced identical legislation in the House of Representatives as H.R. 2701. Rep. Heath Shuler (D-NC) joined the pair as an original cosponsor.
By giving these states the ability to collect the taxes they are already owed, this proposal would provide tax parity for bricks-and-mortar retailers and remote internet and catalogue sellers, simplify state tax filing for individuals, and help address state budget shortfalls at no cost to the federal government. For more information on this proposal, please refer to a detailed summary or section-by-section of the bill, as drafted by Sen. Durbin's staff.
The Main Street Fairness Act is supported by a wide coalition, including NAREIT, the National Governors Association, the National Conference on State Legislatures, the National Retail Federation, the International Council of Shopping Centers, the Retail Industry Leaders Association, and the National Association of College Stores. Notably, online retailer Amazon also supports this legislation.
If you have any comments or questions, please contact Dara Bernstein, NAREIT's Senior Tax Counsel at dbernstein@nareit.com.
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