The Exclusion Of E Commerce - 3835 Words

AN ANALYSIS OF THE EXCLUSION OF E-COMMERCE FROM THE GENERAL RETAIL SALES TAX Ryan Van Olst PUAD 631-002 A NEED FOR REFORM The inclusion of e-commerce within the general retail sales tax (GRST) would generate substantial revenue, broaden the tax base, reduce distortions, and better accomplish the intended purpose of the consumption tax: collecting revenue from total final consumption. Although Congress has not yet successfully passed legislation to this effect, such legislation is imperative to the continued use, growth, and viability of the GRST to generate state and local revenue. EVALUATING THE TAX BASE: THE GENERAL RETAIL SALES TAX The exclusion of the vast majority of online sales and services from the base of the GRST has significantly reduced state (and to a lesser extent, local) government revenue. Before an assessment can be made of the implications of excluding online purchases from the GRST, it is necessary to understand the importance of the tax base eroded by this exclusion. The GRST is intended to be a broad-based tax on final consumption. The U.S. uses the retail tax extensively, preferring it over alternatives like the Value Added Tax used by many other countries. As revenue from selective excise taxes has declined over the last 25 years, tax revenue from the GRST and companion use tax has become more important than ever. It is the single largest source of state tax revenue, comprising 30.5% of total state government tax revenue in 2012.Show MoreRelatedSocial Networking, E Commerce, Information Systems, It Risk Management Essay1215 Words   |  5 PagesThe purpose of this report is to understand the following topics which are Social networking, E commerce, information systems, IT risk management and how they have influenced the modern day business organizations in terms of Promoting their business through social networks, how important to have a risk management plan in an organization, and how Ecommerce has become essential part of the business, a lso The value of information system is for the people of the modern world. Introduction Social Networks:-Read MoreThe Relationship Between Taxation And Technological Developments During The Industrial Revolution1501 Words   |  7 Pagesrepresents the greatest technological revolution since the industrial revolution. Data show that there is approximately $xxx billion trade occurring through e-commerce, with xxx billion internet users and xx billion domain names as of 20142 and this number keeps changing every second. This paper takes a look at the current tax issues relating to e-commerce and profit shifting and also the new OECD framework aimed at addressing these challenges. Tax Issues Governments and tax authorities face the same problemsRead MoreMeasures for the Protection of E-Consumers1710 Words   |  7 PagesMEASURES FOR THE PROTECTION OF E-CONSUMER In this electronic age there is a need to protect consumers‟ interest and following are the areas of central importance for the effective protection of e-consumers. 1. Correct Information An informed consumer is self sufficient to look after her/his own interests than an uninformed consumer. Appropriate information on the products is very important for e-consumers as that can help the consumers to assess the benefits and risks of entering into a particularRead MoreRelationship Between Jimmy And Tina Electronics Ltd1736 Words   |  7 Pagesacceptance as a webwrap or clickwrap agreement because the buyer agrees to the terms and conditions and places an order by clicking Submit or I Accept . Afterwards, the seller usually sends a Dispatch Confirmation E – mail illustrating again the terms and the date of the dispatch . This email would confirm the final agreement of Jimmy and the terms and conditions formed by the company . Thus, a contract has been formed between Tina Electronics Ltd and JimmyRead MoreIndividual Case Study Report : Fedex1125 Words   |  5 Pagestransportation company, was founded by Frederick Wallace Smith in 1971 (Trefis) .Frederick Smith identified the necessity to improve the shipping method of packages which provides customers and business worldwide with a broad portfolio of transportation, e-commerce and business services† better than the government postal department. As the FedEx website states, Smith created the company â€Å"for the purpose of expanding access through overnight express delivery.† Also, in an interview with the Bloomberg NetworkRead MoreEssay on U.S. V. Wise, 221 F.3d 140 (5th Cir. 2000)1339 Words   |  6 Pagestalks of obtaining information on explosives from the internet. Cain mentioned that he felt that Roberts was trying to recruit him as a ROT member during the meeting. Cain informed Agent Church on April 29, 1998 that Wise and Grebe asked him to find e-mail addresses of the Internal Revenue Service (IRS), Drug Task Force (DEA), Central Intelligence Agency (CIA), FBI, White House, United States Attorney General, Texas Attorney General, and Texas Department o f Public Safety. Wise and Grebe had plansRead MoreFinancial Inclusion Of The Jammu And Kashmir State Essay812 Words   |  4 Pagesof improvement, through disguised form and without the Researchers World -Journal of Arts, Science Commerce ââ€"   E-ISSN 2229-4686 ââ€"   ISSN 2231-4172 International Refereed Research Journal ââ€"   www.researchersworld.com ââ€"   Vol.–III,Issue–4(2),October 2012[117] Financial Inclusion nomenclature and emphasis (Rao – 2007). The complexity faced today is to get rid of barriers which help in financial exclusion of few underprivileged people. These barriers have increased and grown very huge from both the demandRead MoreThe Non Alcoholic Beverage Segment1295 Words   |  6 Pagesabout the effects of diet on health and well-being. This new approach, which has been producing profound effects on consumption habits, will continue to have a significant impact on the trends of this market. Such effects are not limited to the exclusion from consumer’s diet of foods with harmful effects or the mere preference for products with healthier properties. It is not just a matter of substituting bad by good-for-you. These changes open a market for new healthy and functional products thatRead MoreThe Growth And Poverty Improvement Of A Country Essay1539 Words   |  7 PagesInternal Group of RBI on Rural Credit and Microfinance (popularly known as Khan Committee recommendations), guiding principles were issued to increase the reach of banking sector with the help of Information and Communication Technology. Financial exclusion was declared as a nation wide top main concern and the Banks were told upon to make out plans to attain the purpose of Financial Inclusion. All the Banks were given order to endorse their initiatives which include State Level Bankers’ Committee (SLBC)Read MoreMultiracial Families : Multiracial People1174 Words   |  5 Pagesthe age of 18. This remarkable increase is because mixed marriages and families are at an all time high multiracial youth and mixed families often experience unique types of discrimination and micro aggressions. Among the multiple types, one is exclusion or isolation in which multiracial people are excluded due to their mixed status. For example, a Hispanic and white biracial child may not be treated as equally as his or her mono-racial siblings or cousins at family gatherings by disapproving distant