Wisconsin Gov. Promises To Use Internet Sales Tax To Lower Income Tax
It sounds like a nice idea, if you don’t own a calculator. The governor of Wisconsin wants to give his residents a tax break, using the revenue from a proposed Internet Sales tax to lower the state’s income tax. “I want to make clear, should federal Marketplace legislation become law, my intention would be for any resulting additional revenue be used to provide individual income tax relief for Wisconsin’s taxpayers,” Wrote Governor Scott Walker to members of Congress. The Marketplace Fairness Act will permit state governments to collect sales taxes from any business that both grosses more than $1M in revenue and has a substantial operating base in their region. Earlier this month, a draft of the bill passed the U.S. Senate with overwhelming bipartisan support, but faces tougher opposition in the House, where Republican leadership is concerned that the law will be a logistical nightmare for small businesses. Although, I wouldn’t get too excited. With 5 million residents in Wisconsin ...
Samwer Brothers' Zappos Clone Namshi Gets $13M More From Summit To Build Out Its Middle East Fashion E-Commerce Portal
Rocket Internet, the German-based e-commerce startup incubator from the Samwer brothers, is today announcing another round of funding for its strategy to build out its footprint into emerging markets. Today it's the turn of Middle-East-based fashion commerce site Namshi, which is getting $13 million from Summit Partners. This is the second time Summit, a Rocket regular, has invested in Namshi, after a $1 million injection in January. To date, Dubai-based Namshi appears to have raised some $34 million, if you also count the reported $20 million from JP Morgan and Blakeney Management in September 2012. A Rocket Internet spokesperson would not confirm any of the sums apart from the most recent one, except to note that previous funding totals a "high double-digit amount."
G2 Crowd Takes On Gartner Magic Quadrant With Crowdsourced Review Platform
G2 Crowd wants to disrupt Gartner’s Magic Quadrant through a real-time, crowdsourced platform of peer reviews and social analytics targeting the CRM and marketing automation markets. The new “Grids” service launches June 1. The platform, free to explore, analyzes and correlates about 15,000 peer reviews that it has aggregated since its launch in February. CEO Abel Goddard says G2 Crowd will sell access to its crowdsourced data and provide comparison tools that customers can use. The value is in the data and how it is segmented. Customers now pay a one-time fee of $199 to get the CRM data. Abel envisions it becoming a subscription model. Grids feeds peer reviews, web traffic, Twitter, LinkedIn, and other social media data into an algorithm to determine how companies are perceived. The peer reviews are weighted more heavily than other data. Reviews so far put Salesforce.com and Microsoft Dynamics in the lead for the CRM market. Leading marketing automation companies include Marketo, ...
CenturyLink's Nationwide Outage Affects Millions
halfEvilTech writes "CenturyLink, the nation's third largest telco network, is experiencing an outage of its broadband service nationwide, leaving its support systems overwhelmed and even causing its website to hit a few snags this morning. The company, which at last count has 5.8 million broadband subscribers, has no estimates yet on how long it will take to restore service." CenturyLink is the company that will be providing the Defense Department with the equivalent of Internet2.
US Senate Passes Internet Tax Bill 69 To 27
schwit1 quotes The Washington Post: "The Senate aimed to help traditional retailers and financially strapped state and local governments Monday by passing a bill that would widely subject online shopping — for many a largely tax-free frontier — to state sales taxes. The Senate passed the bill by a vote of 69 to 27, getting support from Republicans and Democrats alike." schwit1 adds "Unfortunately online businesses could be in for a rude awakening when it comes to the law's interpretation." Passage in the House is not certain, and companies like eBay are lobbying to raise the minimum sales required to collect state sales tax to $10 million instead of $1 million per year.