Hearing Will Focus on Out-of-State Tax Burdens Faced by Businesses, Including Littleton Coin Company
WASHINGTON – Tomorrow, the Senate Finance Committee will hold a hearing examining the impact of the burdensome Supreme Court Wayfair ruling on small businesses. In February, Senator Hassan led a bipartisan call for the Committee to hold this hearing, and the hearing will feature John Hennessey, President & CEO of Littleton Coin Company, which is based in Littleton, NH.
The 2018 Supreme Court’s Wayfair decision required businesses – even if they are located in non-sales tax states – to collect sales tax for other states and jurisdictions, raising costs and creating a burdensome new tax collection system that small businesses in New Hampshire and across the country are struggling to comply with.
“I am glad that the Finance Committee heeded the bipartisan call to hold this hearing, and I look forward to welcoming John Hennessey as a witness so that my colleagues can hear directly from him about how the Wayfair decision has imposed significant, undue burdens on small businesses. I’ll keep working to reverse the Supreme Court’s misguided decision and help small businesses that are hurt by out-of-state taxes,” said Senator Hassan.
“The Wayfair decision has cost my business several hundred thousand dollars that otherwise would have been invested into growing our businesses. I appreciate Senator Hassan working in the Senate to hold this hearing and pushing back on New Hampshire businesses having to collect out-of-state taxes, and I look forward to testifying before the Senate tomorrow,” said John Hennessey, President & CEO of Littleton Coin Company.
Senator Hassan has been a leader in efforts to try to reverse the Wayfair decision and protect New Hampshire small businesses from having to pay out-of-state taxes and deal with the mountains of red tape in order to comply with the decision. Senator Hassan was part of a group of Senators who reintroduced legislation that would stop states with a sales tax from imposing burdensome out of state taxes and tax collection requirements on small businesses as a result of the Supreme Court’s Wayfair ruling. Senator Hassan also joined Senator John Tester in reintroducing the Stop Taxing Our Potential (STOP) Act to overturn the Wayfair decision. In 2019, Senator Hassan participated in a field hearing on the internet sales tax collection requirement in Concord to highlight the impact of the Supreme Court‘s out of touch, impractical, and unfair Wayfair decision on small businesses.