Reed Concerned About Internet Sales Tax Act

The Senate Monday night passed the Marketplace Fairness Act, which would give states the authority to tax merchants from anywhere in the country that sell to customers inside their borders, be it through phone orders, catalogs or the Internet. Congressman Tom Reed said when the bill get to the House, he'll have some questions that need to be answered.


The legislation is intended to level the playing field for brick-and-mortar but Reed says he's sensitive to that argument.

Hoping to ease concerns from the small-business community, the authors of the bill exempted companies with less than 1 million dollars in annual revenue from paying online sales tax.

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