Sen. Richard Durbin, D-Ill., has introduced a bill allowing states to collect online sales taxes — legislation that has broad support from the business community as well as state and local officials, but so far has not attracted any Republican co-sponsors.

The Main Street Fairness Act would authorize states to collect sales taxes on online transactions from out-of-state retailers. The Supreme Court ruled in 1992, in Quill Corp. v. North Dakota, that retailers are not required to collect out-of-state sales taxes when the business does not have a presence in the state.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.