Bangkok--1 Nov--Standard & Poor's
As states are passing laws requiring internet retailers to collect sales tax, Standard & Poor's Ratings Services, in a report published today, said that it does not think that the amount of revenue states are foregoing by not collecting tax on internet sales is significant enough to influence state or local ratings.
"Nevertheless, internet commerce is growing faster than overall retail sales, and if trends continue the loss of tax revenue could become significant," said credit analyst David Hitchcock.
The report is titled "Will Internet Sales Taxes Lead To More Revenue For States?"
The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Ola Fadahunsi, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
David G Hitchcock, New York (1) 212-438-2022