Washington Watch - September 19, 2018


Washington Watch - September 19, 2018

The Entrepreneur Vote 2018

The 2018 mid-term elections are right around the corner and we want to hear from you, please complete this quick 10 question survey and share with us what will be driving your decisions in the voting booth.

2018 Mid-Term Member Survey

Wayfair Ruling Spurs Congressional Action

For over two decades, Congress has introduced legislation to address the issue of online sales tax collection, given that until June 2018, the Supreme Court ruled that tax collection had to prove a physical presence in their state to assess taxes on the purchase. That all changed in June with the Supreme Court ruling in favor of South Dakota’s law that would allow the state to collect sales tax from online purchases. While we believe strongly that every individual and business should be in compliance with all laws and regulations, the Court’s ruling creates significant challenges and exposes small businesses to a complicated and burdensome tax structure.

As state by NASE CEO & President, Keith Hall, after the ruling, “Because of last week’s ruling, millions of self-employed businesses offering their goods and services for sale online could now have to navigate a nightmarish web of compliance challenges. The Government Accounting Office recently released a report showing that this ruling could cause the compliance costs for small businesses to skyrocket. Many of the small ‘Mom and Pop’ business owners we represent would incur the highest cost if Congress doesn’t act.”

The NASE continues to monitor activities by Congress to address some of the uncertainty created by the Court’s ruling. Just last week, Representative Sensenbrenner (R-WI) along with a bipartisan group of lawmakers, including Rep. Eshoo (D-CA), Rep. Lofgren (D-CA), and Rep. Duncan (R-SC); introduced, “The Online Sales Simplicity and Small Business Relief Act” which would ban any retroactive taxation, established an orderly phase-in of compliance obligations, and creates a $10M small business exemption.

NASE Express Support of Retirement Security Executive Order

Signed by the President on the eve of the Labor Day holiday, the retirement security executive order would open multiple employer plans (MEPs) to small businesses and “expand(ing) access to workplace retirement savings plans for American workers.

The executive order would no longer require small businesses to have formal business ties and instead would allow small, independent employers to join together through MEPs to offer workers access to 401k retirement savings plans.

The NASE believes multiple employer plans are one option in helping pave the way for America’s small business community to enjoy the same retirement security available to the rest of our nation’s great workforce.

Washington Watch Online

Visit NASE Advocacy to view archived editions of Washington Watch. While you’re there, read the latest updates from the Washington, D.C. office, write your Congressperson, and find out how you can join the fight for micro-business.

Courtesy of NASE.org