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U.S. Senate Passes Internet Sales Tax Bill

The U.S. Senate passed the Marketplace Fairness Act on Monday to make it easier for states to collect sales tax from merchants on Internet purchases. The margin was 69 to 27. Under the current bill, online sellers that make less than US$1 million in out-of-state sales would be exempt for directly collecting taxes.

The bill will have to pass the House of Representatives before being signed by President Barack Obama. The president expressed his support for the bill on April 22 during his statement of administration policy.

Thanks to Daniel Zelter for the news tip.

Source: USA Today