Online sales-tax bill would hurt investors, groups say

04/24/2013 | AdvisorOne · Wall Street Journal, The

Some industry groups argue that the proposed Marketplace Fairness Act, a bill that sponsors say is meant to enable states to enforce sales taxes on Internet purchases, will hurt investors. Brian Graff, executive director and CEO of the American Society of Pension Professionals and Actuaries, says the bill would let states tax 401(k) contributions and other transactions within workers' accounts. ASPPA and other groups are calling for the Senate Finance Committee to examine the bill's unintended consequences.

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AdvisorOne · Wall Street Journal, The

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