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Senate Passes Online Sales Tax Bill

Your online shopping could get a little more expensive.    The Senate passed the Marketplace Fairness Act Monday, which gives states the power to force retailers outside their borders to collect online sales tax. The legislation forces retailers with more than $1 million in annual sales to collect taxes from buyers. As it stands now, states can only require merchants with a physical presence within their borders to collect taxes, making many online retailers a budget-friendly option for consumers. However, brick-and-mortar stores have said the tax loophole puts them at a disadvantage and makes them a showroom to consumers to check out a product, who  then buy it cheaper online.   "Online retailers are increasingly moving toward same-day or next-day delivery which means they have to be close to customers in terms of distribution centers and truck fleets to make this happen," explained David French, senior vice president for government relations at the National Retail Federation. "This m...

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  1. US Group Hilco Rescues HMV Music Retail Chain

    The U.K. arm of U.S. restructuring specialist Hilco on Friday said it has secured a deal to rescue HMV, Britain's last remaining high street music retail chain.Hilco...

  2. Wal-Mart Mulls Having Customers Deliver Packages

    Wal-Mart Stores Inc (NYSE:WMT) is considering a radical plan to have store customers deliver packages to online buyers, a new twist on speedier delivery services tha...

  3. Best Buy founder Schulze rejoins as chairman emeritus

    Best Buy Co Inc founder Richard Schulze, who left the board last year and later failed in his effort to take the company private, will rejoin the retailer as chairma...

  4. Schulze to be Chairman Emeritus at Best Buy

    Best Buy Co. (BBY) founder Richard Schulze is returning to the company as chairman emeritus, a few weeks after the big-box retailer ended talks over a deal in which ...

  5. Best Buy Founder Returns as Chairman Emeritus

    Best Buy (NYSE:BBY) founder Richard Schulze, after a failed attempt to make a takeover bid, is back at the retailer as its chairman emeritus.In a statement released ...

  6. Buy Retail Stocks That Cater to 18-34 Year Olds?

    Experian Marketing Services Managing Director Bill Tancer on the state of the retail sector.

  7. Death of Brick and Mortars?

    International Council of Shopping Centers CEO Michael Kercheval on brick and mortars retailers being killed by online tax loopholes.

  8. Fed Beige Book: District-by-District Summary of Conditions

    The U.S. economy expanded and the labor market improved a little in January and February, amid higher payroll taxes and lingering uncertainty over Washington's spend...

  9. Best Buy Loss Narrows on Fewer Charges

    Best Buy Co.'s (BBY) fiscal fourth-quarter loss narrowed sharply as the big-box consumer-electronics retailer recorded fewer one-time charges, although core earnings...

  10. Best Buy's 4Q Results Beat; Sees 1Q Under Pressure

    Electronics retailer Best Buy Co. said Friday its fourth-quarter loss narrowed to $409 million, or $1.21 a share, from $1.82 billion, or $5.17 a share, a year earlie...

  11. How to Earn Rewards Through Credit Card Portals

    Want to shop smarter online? You may want to check out your credit card's Internet "shopping portal."It's one of the fastest ways to rack up rewards points, and all ...

  12. Best Buy takeover attempt by founder in jeopardy: sources

    Best Buy Co Inc founder Richard Schulze's effort to take the company private is in trouble after attempts to secure financing faltered while an alternative strategy ...

  1. What You Shouldn't (and Should) Buy in May

    What Not to buy in MayLooking for bargains in May? Forget the TV, and step away from the lawn mower. Instead, enjoy a picnic on the patio.May has plenty of discounts...

  2. Best Buy Exits Europe with Carphone Sale

    In a move that is being cheered by investors, Best Buy (NYSE:BBY) announced plans on Tuesday to sell its 50% stake in its struggling European business to Carphone Wa...

  3. Exclusive: EBay recruits users in push against sales tax legislation

    EBay Inc Chief Executive John Donahoe began emailing millions of users of the company's online marketplace on Sunday in an unprecedented lobbying effort to change lo...

  4. Mommy's Bliss Founder Brings an International Treatment to a U.S. Audience

    CEO Yasmin Kaderali runs a business founded by her mother, who was dismayed by a lack of “Gripe Water” in the U.S., after using it to calm fussy babies in Tanzania and Scotland.

  5. U.S. Retail Sales Fall 0.4%

    U.S. retail sales dropped in March as spending at gasoline stations tumbled and consumer purchases were mixed elsewhere.Retail and food service sales contracted by 0...

  6. U.S. Retail Sales Fall 0.4% In March, Largely On Gasoline

    ===================================================== US Retail Sales Mar Feb ! Consensus: ! Overall: -0.4% +1.0%r ! -0.1% ! Ex-Autos: -0.4% +1.0% ! Actual: ! ! -0.4...

  7. EU Gives Green Light to Penguin, Random House Merger

    European Union regulators have given the unconditional green light to the proposed merger between Bertelsmann SE & Co.'s Random House and Pearson PLC'S (PSON.LN) Pen...

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