FoodPlaces - 2:57 am on Feb 7, 2003 (gmt 0)

Of course Walmart and other big retailers like this idea.

First, a business wasnt previously allowed to charge tax in a state it didnt have taxation jurisdiction in (one they have an office in and are registered with that state). Now these states (currently) in agreement are acting like, following the law previously and only taxing in states where you had the right to do so was a criminal act - "but that's ok - start now and we will forgive you".

As for Walmart and gang... how many of you collect taxes? This is an easy one. Let's say you pay quarterly (like in my state), and you do $10,000 in business a month. That means you are sitting on (at lets say 5%) somwhere around $500-$1,500 in your account earning interest or raising your credit for any bank checks. Now that might not be much to earn anything off of, or to float for other purposes... but let's say you are Walmart with 58 billion in sales in a quarter ( walmart sales [216.239.57.100]) - then that tax you are sitting on amounts to as much as 2.9 BILLION dollars.

Still wonder why "reallybig" business is going to keep pushing for this?

- Rob

[edited by: NFFC at 11:58 am (utc) on Feb. 8, 2003]
[edit reason] Fixed side scroll [/edit]