Treasurer Kennedy estimates state would get at least $250 million a year in sales taxes if bill passes
State Treasurer John Kennedy says a bill pending in Congress to tax Internet sales could mean hundreds of millions of dollars in tax revenue for Louisiana.
The bill before the U. S. Senate would require online retailers to collect state and local sales taxes for purchases made over the Internet. The tax dollars collected would then be sent to the state where the shopper lives.
"My guess is if they pass this bill, the state of Louisiana would see at least an additional $250 million a year in sales tax," Kennedy told 99.5FM Friday.
Kennedy said there are advantages and disadvantages to the bill.
"One advantage of course is that it would level the playing field. The disadvantage is that most people are gonna see this as a brand new tax."
As for how much Louisiana residents are spending online, Kennedy said he knows it's in the billions of dollars.