Dive Summary:
- Key figures in retail property are encouraged by the recent momentum for the Marketplace Fairness Act of 2013, citing it as a crucial factor is leveling the playing field for consumer dollars between physical and digital storefronts.
- 23 U.S. states currently have or are working to complete the process for online tax legislation.
- We've always felt that online and bricks and mortar should be treated equally," says Jones Lang LaSalle Retail President and CEO Greg Maloney.
From the article:
The potential benefits of a sweeping federal tax-equalizing bill are undeniable and the current proposal seems to be fair and workable, said Rick Chichester, president and chief operating officer of Faris Lee Investments. However, both bricks-and-mortar and online and mail order sellers may need to significantly re-engineer their sales and data-gathering practices for the bill to apply equally to all.
