Long-awaited streamlined sales tax bills introduced in U.S. House and Senate

After months of anticipation, Streamlined Sales Tax legislation titled the "Main Street Fairness Act" was introduced in the U.S. House and Senate on July 29, 2011. The lead sponsor of H.R. 2701 is Rep. John Conyers (D-MI), the Ranking Member of the House Judiciary Committee, and the lead sponsor of S. 1452 is Sen. Richard Durbin (D-IL). As with prior versions, the legislation generally would grant states that are members of the Streamlined Sales and Use Tax Agreement the authority to require remote sellers to collect and remit state and local sales and use taxes. The bills, which are identical, have been referred to the House Judiciary Committee and the Senate Finance Committee, respectively.

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