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Marketplace Fairness Act enforcing Internet sales tax passed by Senate

04/22, 11:54pm

Bill requires businesses with $1 million annual sales to collect sales tax

The US Senate voted to move the online sales tax bill forward. The bill, known as the "Marketplace Fairness Act," will mandate collection of sales tax for purchases even across state lines by companies having annual online sales of more than $1 million per year. The bill was passed by a 74-20 margin, greatly exceeding the 60 votes is needed for cloture.

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