Last week, we posted an introduction to the Marketplace Fairness Act for Online Retailers. On Monday, the Senate voted 69 to 27 to pass the bill that requires retailers with revenues of $1M or more to collect state sales tax on all online purchases.
The bill got bipartisan support in the Senate with many legislators viewing the bill, not as a tax increase, but as a method to enforce a tax law that is already in place. Technically, buyers are supposed to pay taxes on Internet purchases when they file their state tax returns but very few actually do.
The House, however, vows to take a closer look at the ramifications of the bill. House Speaker John Boehner plans to refer it to the House Judiciary (more…)
The Marketplace Fairness Act is rapidly approaching a final vote (expected May 6th). Although it looks like the Act will pass, there is quite a bit of debate in the retail industry regarding whether or not the bill really is fair. The Act requires online and catalog retailers with revenues above $1M to collect tax on transactions for tangible goods regardless of where they are located. To help retailers, the bill also requires that states simplify their state tax laws before they can collect. They can do this in two ways:
1. Adopt the Streamlined Sale and Use Tax Agreement (SSUTA). Twenty-four states already use this model.
2. Meet the five simplification mandates listed in the bill. The mandates include:
I. Notification of rate changes
II. Appointment of a single state organization to handle tax procedure
III. A uniform tax base across the state
IV. Destination sourcing
V. Free software for retailers
The intent is that these requirements will ease the burden on online retailers to collect tax across multiple states.
nChannel recently attended the Magento Imagine conference 2013 where we learned the art of multi-channel commerce. We were thrilled to see that Magento shares nChannels vision of helping our customers be successful, even in their integration efforts. Whether they are using Magento Go or Magento Enterprise, retailers need to integrate data from their eCommerce sites with the rest of their sales channels including ERP/Accounting, POS and marketplaces like eBay.
From networking sessions, great panels, keynote speakers and the hours and hours of late night chats with industry leaders, overall it was an amazing conference and insightful to say the least. We’ve put together a highlight reel of some of the favorite sessions and events at Magento Imagine 2013 in the video below. Looking forward to Magento Imagine 2014 already!
[youtube width=”500″ height=”400″ link=”http://www.youtube.com/watch?v=1DWpWRx3y4Q”]
Two weeks ago in Las Vegas, Magento demonstrated how it supports retailers and partners who are trying to manage a new generation of consumers who expect a blurred line between eCommerce, Point of Sale (POS) and marketplace stores by hosting an amazing global eCommerce conference. With its popularity, the conference has sold out three years in a row! As a system integrator, I recognize that this is exciting time for Magento and nChannel.
I was thrilled to see that Magento shares nChannels vision of helping our customers be successful, even in their integration efforts. Whether they are using Magento Go or Magento Enterprise, retailers need to integrate data from their eCommerce sites with the rest of their sales channels including ERP/Accounting, POS and marketplaces like eBay. Magento works closely with its partners to ensure that this seamless communication between systems can become a reality. I personally experienced Magentos commitment to their system integration partners one night at 3AM when a Magento member texted me to see if I was still up and able to meet!
As for the conference itself, the sessions were informative, the energy in the Sponsor Marketplace was electric, and the keynote speakers were engaging, thoughtful and filled with great information. Here are a few quick facts I learned at Magento Imagine:
- Magento is growing at a staggering rate they now have 26% market share
- 2012 Global eCommerce sales = over $1 Trillion
- 2012 Total Sales on mobile devices = over $170 Billion
I look forward to working with the many partners and end users that we met at Imagine. With a cloud-based subscription, Magento users can leverage nChannels multi-channel management platform to simplify multi-channel sales and supply chain processes by linking web stores, back office systems and POS software. nChannel enables these solutions to work together seamlessly so users can increase sales, improve customer service and optimize inventory.
Microsoft Dynamics NAV is a complete enterprise resource planning (ERP) software system for mid-sized organizations that is easy to configure, fast to implement and simple to use. Even if you work with a highly specialized organization, Dynamics NAV can be catered to meet your industry-specific needs. Simplify your business, increase productivity, make smart decisions and more with the implementation of Dynamics NAV.
Weve compiled a list of the best Dynamics NAV blogs and communities out there to help make your experience with the product even better. Even while youre busy running your company, the tips and tricks in these blogs will save you time and improve your processes. If you use Microsoft Dynamics GP, feel free to review our top Dynamics GP Blogs article.