RICHMOND, Va. (AP) – Virginia Gov. Terry McAuliffe wants to force certain internet retailers to collect sales taxes to help close a more than $1 billion state budget shortfall.
McAuliffe’s proposals to plug the budget gap outlined Friday include requiring out-of-state retailers with facilities in the state to collect taxes for online purchases from Virginia residents.
McAuliffe also wants to slow the rollback of a budget-balancing gimmick that requires some merchants to pay early estimated sales taxes.
He’s also proposing to waive penalties and some interest for individuals and businesses that owe back taxes, which he says will generate nearly $60 million.
Virginia’s public colleges and universities would also see a 5 percent cut in state funding in fiscal year 2018. That’s lower than the 7.5 percent cut McAuliffe had warned they might get.
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.