The Senate's side of the Capitol Building in DC. (Photo credit: Wikipedia)

Senate Bill On Internet Taxes Passes First Hurdle

Recently, the United States Senate passed a bill concerning Internet tax collection. Online retailers currently don't have to collect sales tax from every single sale. If a person places an order from a state where that business doesn't have any physical presence, then the company doesn't need to collect taxes. Unfortunately, states lose out on billions of dollars in taxes because of this loophole.