New Online Tax Law Brings in $1 Million and Counting in Revenue

Black Friday and Cyber Monday were record-breakers for shoppers, and this year, that means more revenue for states. 

Over the summer, the Supreme Court decision on South Dakota v. Wayfair required all online retailers to collect state sales tax. North Dakota implemented the change back in October. Since then, more than 2-thousand businesses have already applied to remit the state local taxes. Tax Commissioner Ryan Rauschenberger says the state has already seen one MILLION dollars in additional revenue so far, and those numbers don’t even include holiday shopping.

Tax Commissioner Ryan Rauschenberger : “So the online sales is growing, and growing rapidly. That’s one of the reasons we set the October 1 date, to make sure we’re capturing these holiday sales and in February we’ll have a much better idea of how much North Dakota spent online, and how much was remitted by these newly registered online companies.”

Rauschenberger says new businesses are still applying to remit taxes each day.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss