Yep, the Bill in its current state will affect virtually all small U.S. businesses that sell anything online. Only the smallest one-man type of businesses will be exempt initially, but that will probably not last long.
The stinker of this bill is that the biggest cost to all US-based eCommerce businesses will be in submitting to an army of auditors from about 9600 separate taxing authorities. The cost of complying, even for smaller exempt stores, will probably exceed all of your current profit margins.
And it gets even worse for small US-based companies. If you think you will be able to pass this cost on to consumers, think again. :confused:
Since foreign-based companies will not be subject to the same regulation and taxation, any attempt to pass this higher cost on to consumers will simply result in the transfer of your market share to foreign operators. This is all part of the current leftist globalist movement to forcibly redistribute your wealth. If you are a US citizen, you the target of the economic warfare being waged against you by your own government.
If you have a successful eCommerce business you may want to start planning your expatriation to a business-friendly country, since you are now in the cross-hair of an anti-free-enterprise government with a looming 3 trillion dollar deficit on the horizon.
