Real Estate Roundtable Commends Supreme Court Decision to End Tax Discrimination Against Main Street Retailers
Billions in Revenue From Online Sales Taxes Will Support Local Community Services and Infrastructure Investment
WASHINGTON, June 21, 2018 /PRNewswire-USNewswire/ -- Real Estate Roundtable President and Chief Executive Officer Jeffrey DeBoer released the following statement on today's Supreme Court decision (5-4) in South Dakota v. Wayfair expanding States' authority to collect sales and use taxes on Internet consumer purchases from retailers who do not have a physical presence in a state.
"The Real Estate Roundtable commends the Supreme Court for their decision today that ends tax discrimination against Main Street retailers by expanding States' authority to collect sales taxes on e-commerce purchases.
Today's ruling is long overdue and rejects an antiquated "physical presence" standard. That test exempted on-line retailers from collecting sales and use taxes – yet imposed those obligations on traditional "brick-and-mortar" retailers.
The ruling will enable states to collect much-needed revenue to provide public services and invest in local infrastructure projects. Research data from The National Conference of State Legislatures and International Council of Shopping Centers shows that nearly 26 billion dollars in state and local sales taxes from online sales went uncollected in 2015.
Many issues remain for Congress to craft a uniform, efficient system. We stand ready to assist policymakers should they respond to today's decision with legislation that provides our nation's businesses with fair standards to collect the tax that is owed on online sales."
The Roundtable on March 5, 2018 joined The International Council of Shopping Centers, Investment Program Association, Nareit®, the National Association of REALTORS® , the National Multifamily Housing Council, NAIOP, the American Farm Bureau Federation and the South Dakota Farm Bureau Federation in filing an amicus curiae brief.
The Real Estate Roundtable brings together leaders of the nation's publicly-held and privately owned real estate ownership, development, lending and management firms with the leaders of national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy.
SOURCE Real Estate Roundtable
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