George Isaacson has been watching the results of South Dakota v. Wayfair play out for nearly two years, as states unfurl all kinds of economic nexus and marketplace facilitator policies. Isaacson, a lawyer, Bowdoin College professor, senior partner at Brann & Isaacson and Data & Marketing Association tax counsel, argued Wayfair’s side in the precedent-setting Supreme Court case that has small businesses struggling. The cost of the new taxes does not seem to be weighing businesses down, but the pain of compliance certainly is, he said.
“It’s a wet rag on the economy to have a tax system in which you literally have thousands of jurisdictions that have different tax elements,” Isaacson recently told PYMNTS. “The U.S. is the only country that has such a complex consumption tax system.”
Isaacson gave PYMNTS an expert’s perspective on how the flurry of state laws is impacting companies — from small to medium-sized businesses (SMBs) to overseas retailers — and why a federal remote sales tax law may be a major economic boon.
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november 25, 2019