Main Street Fair Competition Act of 1988

Summary

Main Street Fair Competition Act of 1988 - Empowers any State and the District of Columbia to require a person to collect a State sales tax imposed with respect to the sale of tangible personal property if: (1) the destination of sale is in such State; and (2) the person engages in regular or systematic soliciting of sales in the State and has, within a specified one-year period, gross receipts from the sale of such property that exceed either $750,000 within the State or $15,000,000 nationally. Sets forth requirements under which local sales taxes may be collected as a component of State sales tax. Prohibits a State from requiring: (1) any person who collects a State sales tax to make an accounting for the receipts of such tax on the basis of the geographical location at which the taxable transaction occurs; or (2) collection of sales tax under this Act unless the State has available a toll-free telephone service to provide potential collectors with information relating to liability for and collection of State sales tax. Limits a State's authority in connection with tax return filing and payment frequency requirements. Applies relevant State law to persons required to collect State sales tax under this Act.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 11 May 1988

  Open at official source

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