With it being Cyber Monday, online shoppers in the U.S. are expected to drop $12.7 billion today, the busiest e-commerce day of the year.
And taxes will be in full effect this year. With the “Leveling the Playing Field for Illinois Retail Act,” the state is now requiring online retailers to charge local sales tax rates as high as 10.25%. Before this year, online retailers such as eBay and Amazon only had to charge the 6.25% state sales tax.
Now they must charge the full local rates, including the local taxes cities and counties have imposed on the brick-and-mortar shops. Fifty-five percent of respondents of the survey said they got an early start with their holiday shopping.
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