Canadian online retailers could face tax on U.S. sales after Supreme Court ruling [Financial Post (Toronto, Ontario, Canada)]
lululemon athletica inc. (LULU)
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Source: Financial Post
Canadian online retailers could face tax on U.S. sales after Supreme Court ruling Local companies in the U.S. have long claimed that outside rivals and e-commerce giants gained an unfair advantage from the tax break A milestone decision by U.S. lawmakers could soon force Canadian online retailers to pay sales taxes on products sold into the U.S., part of a long-awaited ruling that will have a ripple effect across Canada’s e-commerce sector. “It’s not just internet giants getting wrapped up in this,” said Noreen Marchand, a partner with KPMG in Toronto. The U.S. Supreme Court ruled on Thursday that states have the right to collect sales taxes on products sold by out-of-state vendors, a decision that attempts to put e-commerce firms on a level playing field with competitors. It effectively closes a loophole that allowed online retailers with no physical presence in a given state to avoid paying sales taxes. Maureen Atkinson, senior partner at J.C. Williams Group, said Frank And Oak, Lul
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LULU
Earnings
- 3/21/24 - Beat
LULU
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- LULU's page on the SEC website