The Supreme Court ruled yesterday that states can force internet retailers to pay sales taxes, even if the company has no physical presence in that state. The ruling overturns a previous decision that kept states from assessing sales taxes on companies that did not have a store, outlet, or warehouse within a state's borders. CNNMoney: In making their decision, justices ruled that South Dakota can collect sales taxes from online retailers like Wayfair, which was sued by the state. In doing so, the court reversed a 1992 ruling that allowed states to levy taxes only on those businesses with a brick-and-mortar location within the state. The court said that law effectively incentivized businesses to "avoid physical presence" in states and led to "a judicially created tax shelter." Ultimately, the justices deemed the current law outdated. "The Internet's prevalence and power have changed the dynamics of the national economy," Justice Anthony...(Read Full Post)