Illinois Tries to Squeeze Blood From a Turnip

Illinois, desperate for money to support the Dems mismanagement have decided that the next ripe turnip is online purchases.  But isn’t willing to be that turnip.

From Internet Retailer today:

Lawmakers in Illinois have voted for a 6.25% tax on online retail purchases. The levy, which still needs the governor’s approval, would apply to goods bought through affiliates of online retailers that take in least $10,000 worth of annual sales in the state.

From a press release:

Illinois would only worsen its budget gap if this became law.

“In other states that have tried this approach, including North Carolina and Rhode Island, large online e-retailers who pay affiliate commissions simply canceled their affiliate programs,” said Steve DelBianco, executive director of NetChoice. “The same reaction will undoubtedly happen in Illinois, resulting in no new sales tax for the state. Worse, the lost affiliate commissions would mean that those Illinois small businesses would pay lower state income taxes.”

It’s all pain and no gain, which is exactly what happened in other states that passed similar laws.

Read more here.

About rereno

Real estate investor
This entry was posted in Government, Internet Marketing, Taxes and tagged , , . Bookmark the permalink.

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