Legislators say South Dakota is missing out on some big bucks. Internet sales tax that is not being collected by the State is putting revenue in the federal government’s pockets, and legislators say it’s only fair that South Dakota asks for it back.
Senator Larry Lucas says that on the last Cyber Monday shoppers spent one and a half billion dollars online. He says South Dakota relies heavily on sales tax collections and the state can’t afford to let it slip away any longer.
“It’s estimated that we’re losing as much as 38.8 million dollars a fiscal year – 2012 – because we’re not collecting this internet sales tax. And if in fact we could collect on phone and mail order sales it could be as much as 60.8 million,” says Lucas.
Lucas says the resolution was passed by the Senate on Thursday to help level the playing field for in-state businesses. Thursday was Business Day at the Legislature and those that support the resolution say they wanted to make the day count.