Online Retailers’ Stocks Are Down Following Supreme Court Ruling on Sales Tax [Fortune]
Etsy, Inc. (ETSY)
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Source: Fortune
By Lisa Marie Segarra 1:12 PM EDT From Amazon to Ebay, stocks are tumbling for some of the largest online retailers following a Supreme Court ruling that could raise costs for online shoppers. The 5-4 ruling allows states to collect sales taxes from retailers that aren’t physically based in the state, meaning customers will likely have to start adding taxes to their online shopping bills. But the ruling is also hurting the online stores themselves. Stocks for Amazon , Ebay, Etsy, Overstock and Wayfair were all down Thursday. Amazon, the giant among those, has already been charging taxes on some goods sold on its site, though that does not include third-party sales made through Amazon. Amazon has also already ventured into the brick-and-mortar business with its Whole Foods purchase, and with its many distribution centers, already h
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ETSY
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ETSY
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- 4/3/24 - Form 4
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- 4/3/24 - Form 4
- ETSY's page on the SEC website