Marketplace Fairness Act Essay Example | Topics and Well Written Essays - 500 words

Marketplace Fairness Act - Essay Example es is defined as goods or services sold into a state in which he is not allowed to pay, collect or remit state or local sales and use taxes unless provided in the act. In case the remote seller uses the CSP and there is an error he/she is forgiven if there is a debt however CSP is not liable if the inaccurate information is fed into it and also both the remote seller and the CSP are not liable if the error is as a result of software provided by state. However the remote seller is liable is does not use the CSP. The act has effect on the remote sellers in that the MFA must pass and become effective law, states that require collection of sales tax must be a member of Streamlined Sales and Use Sax agreement, publish a notice that it is participating in the act, the remote seller must have a minimum of $1 million dollars in remote sales in United State, that the State will provide tax certified software provider and that the remote seller may use the CSP to calculate sales tax collections and the remote seller should remit collected tax to the appropriate state (United States, 115). This bill was passed by Senate with 70% of the vote in the spring agitating that this could become the law of the land. This is on the basis that small businesses are economic backbone of the state and nation (United States, 108). They provide jobs, economic growth, aid support in the communities they serve the loss of customers to the internet stores who sell goods and services at cheaper prices has lead to loss of customers hence higher unemployment, slow growth in the economy, underfunded charities and state and government receiving less revenue while more and more people want assistance. As stated in the Digital Goods and Services Tax Fairness Act of 2011, the house of the Representative has not yet voted for the bill nor has it set date to vote it in. As much as this bill has not passed the House of Representatives it’s doubtful that Congress will not pass some form of legislation