Thursday, December 1, 2011

Overstock Takes Stand On Internet Tax Bill

Salt Lake City-based Overstock.com has taken a stand on the various Internet sales tax collection bills, saying that a number of them would "poison the Internet's fertile ground for growing new, innovative E-commerce firms." Overstock, which has been a vocal opponent of various efforts by states to tax Internet businesses, offered up their own, proposed bill, the Equity in Sales Tax Collection Act bill as an alternative Wednesday evening. So far, Amazon.com is supporting competing efforts to tax Internet retailers, while both Overstock and eBay are opposing those measures. Overstock's Patrick Byrne was among a number of Internet executives testifying in front of a congressional committee yesterday on thee tax efforts.