General Growth Properties CEO To Congress: E-Retailers Must Play on Taxation Level Playing Field

CHICAGO-Testifying last week before Congress’ Streamlined Sales Tax Project, General Growth Properties CEO John Bucksbaum, in his capacity as a trustee for the International Council of Shopping Centers, urged lawmakers to adopt taxation policies that are fair to both e-retailers and traditional retailers. In the wake of last weeks two big acquisitions in the shopping center REIT sector, Bucksbaum sees further consolidation ahead.

“ICSC believes that all goods, regardless if they are purchased over the Internet, via catalog or in traditional retail stores, should be subject to the same state and local taxation requirements,” Bucksbaum told Congress.

Congress has imposed a moratorium on Internet taxes, which is due to expire in October of next year. And a Supreme Court ruling has held that remote merchants are not required to collect state or local taxes in places where they have no physical presence. Bucksbaum, and other shopping center owners, are urging Congress to pass legislation that requires states and localities to collect taxes from remote retailers.