KANSAS CITY, Mo. (AP) – Researchers say Missouri misses out on millions of dollars each year in tax revenue that could be collected on Internet sales.
The Kansas City Star reports that Missouri is one of the U.S. states that haven’t signed onto a 1999 agreement to simplify and encourage voluntary collection of sales taxes by e-commerce retailers. About 1,400 retailers voluntarily collect sales taxes under the agreement.
Researchers at the University of Missouri Truman School of Public Affairs estimate that Missouri has been losing about $468 million annually in potential e-sales taxes.
The researchers say that participating in the program would be only a short-term solution for Missouri. The report says the better, long-term solution is for Missouri legislators to lobby Congress to pass new federal legislation.
Information from: The Kansas City Star, http://www.kcstar.com