On April 17th 2018, US Treasury Secretary Steve Mnuchin and “advisor” to the President, Ivanka Trump, came to New Hampshire to speak at a forum about taxes.
This is what we gleaned from the subject of internet taxes.
As you may have heard, Trump has been ranting about Amazon and other internet businesses not paying sales taxes. Mnuchin said it’s a “complicated issue” that will be decided by the Supreme Court. It is claimed that taxpayers are supposed to pay internet taxes because states have a “use” tax as well as a sales tax. Of course any tax on businesses will be passed along to you, the consumer. The bottom line? Mnuchin said: “To the extent the supreme court rules that this has to be collected, we’ll make sure there’s easy mechanisms and that it doesn’t burden small businesses online”. This sounds like he expects them to rule in favor of this tax and is assuring you they will make it easy for small businesses to COLLECT and PAY those taxes. He mentioned “leveling the playing field”. Once again this tax will no doubt simply be passed on to the consumers.
Here is the clip:
You can listen to the full event here.