Twenty-five years ago, Seinfeld warned us of the dangers of double-dipping. However, double-dipping is not relegated only to hors d’oeuvres and sitcoms. In the real world, Ticketmaster has perfected the double dip, reaping billions of dollars by managing events and selling tickets on the primary market.
For years, Ticketmaster has dipped into the revenues of bands and other acts via its Live Nation Entertainment Group and then dipped into the discretionary income of consumers, charging fees per ticket sale on the primary market.
Now, the company has its sights set on a new challenge: the triple dip.
BNA Bloomberg – Overstock, Others Will Report, Not Collect Colorado Tax
By Tripp Baltz
Two major internet retail companies said they will comply with Colorado’s reporting and notice law, but won’t go further to collect and remit the state’s sales and use taxes on remote sales.
High-ranking executives at the companies—Overstock.com Inc., one of the top 50 online retailers in the country, and Colony Brands Inc., one of the top 200—told Bloomberg BNA they wouldn’t be coerced into collecting and remitting sales and use taxes in Colorado, a state where they have no physical presence. Some interests had thought the reporting requirement might motivate companies to go ahead and collect the taxes as well, but the executives said otherwise.
“Overstock will not be voluntarily collecting and remitting in a state where we don’t have physical presence,” Jonathan Johnson, chairman of the board at Overstock.com, told Bloomberg BNA Jan. 19. “We’ll report to the state and give notice. We’re not going to do something voluntarily that we think is wrong.”
“It’s pretty black and white to us this is blatantly unconstitutional, and flies in the face of the interstate commerce clause,” said Don Hughes, chief financial officer at Colony Brands Inc. in Monroe, Wis. “We’re not going to comply with taxation without representation.” Read more
Part 1: We’re losing the battle for online taxes and consumer privacy
Part 2: The ongoing war for privacy and security in the cloud
Part 3: How much online freedom did you lose in 2016?