Overstock, Others Will Report, Not Collect Colorado Tax

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, ...