Global Market Data
Global News Journal
Pakistan: Now or Never?
Front Row Washington
David Cay Johnston
The Great Debate
Reuters Money Blog
Personal Finance Video
Life & Culture
Japan intervenes to tame soaring yen ahead of G20
Did Corzine's risk taking cripple MF Global?
Dreaded "Brazil cost" may dim Foxconn's iPad dreams
Qantas resumes flights grounded by labor dispute
Haqqani network may be linked to Kabul suicide attack
Rare, deadly October storm hangs on in Northeast
Firms to charge smokers, obese more for healthcare
Slideshow: Snowfall in New York
Video: The world reaches 7 billion people
Great Debate: A nation of vidiots
Insight: Firms to charge smokers, obese more for healthcare
30 Oct 2011
Corzine's MF Global files for bankruptcy
Kim Kardashian Divorce: The Best Jokes on Twitter
Millions without power after Northeast snowstorm
Millions without power after US Northeast snowstorm
Insight: U.S. firms to charge smokers, obese more for healthcare
Two abortion clinic employees plead guilty to murder
Jobless US vets say military experience not valued
New CPR technique revives man after 63 minutes without pulse
Thu, Oct 27 2011
Video purports to show Gaddafi capture
Mon, Oct 24 2011
Shoppers flee mall under siege in Mexican resort town
Sun, Oct 30 2011
Battles by states over online taxes may yield little
Five ways income inequality happened, and will continue
Fri, Oct 28 2011
Amazon profit forecast disappoints, stock slumps
Tue, Oct 25 2011
Republican candidates' tax plans may fall flat
Fri, Oct 21 2011
UPDATE 5-McGraw-Hill profit falls as ratings demand slows
Thu, Oct 20 2011
Analysis & Opinion
Do tech giants really need a tax holiday?
Beyond the 1 percent
Mon Oct 31, 2011 2:35pm EDT
(Reuters) - America's state governments won't see many revenue gains any time soon if they triumph in battles to tax sales by out-of-state Internet retailers, a leading Wall Street credit-ratings group said on Monday.
Standard & Poor's Ratings Services said that state governments were increasingly targeting Internet sales outside their borders but still faced legal hurdles and were unlikely to see much top-line benefit soon.
"At this time, Standard & Poor's Ratings Services does not think that the amount of revenue states are foregoing by not collecting tax on Internet sales is significant enough to influence state or local ratings," S&P analyst David Hitchcock said in a report. "Nevertheless, Internet commerce is growing faster than overall retail sales, and if trends continue the loss of tax revenue could become significant."
California is among the states that have locked horns over sales-tax collections with online retailers such as Amazon.com Inc, but the effects on state revenue were far from clear, either in the near term or longer, according to S&P.
(Reporting by Michael Connor in Miami; Editing by Padraic Cassidy)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Social Stream (What's this?)
Back to top
New York Legal
Support & Contact
Advertise With Us
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.