Sears raises its voice for Marketplace Fairness Act
Retailers with brick-and-mortar locations continue to bristle over the concept that their sales are being taxed while certain Internet transactions are not.
Into the conversation comes legislation called the Marketplace Fairness Act, the stated purpose of which is to level the playing field for retailers. The act found strong support from Hoffman Estates, Ill.-based Sears Holdings, which issued a statement applauding the bill and its sponsors.
The bipartisan legislation, Sears said, will level the sales tax collection playing field for local businesses by granting the states authority to enforce existing laws and require out-of-state, online-only retailers to collect and remit sales taxes on sales made to its residents.
"We commend Sens. Durbin, Enzi, Alexander and Heitkamp; and Reps. Womack, Speier, Noem, Welch and Conyers for their continued leadership on this important issue," the statement reads. "Sears Holdings has been and continues to be a strong supporter of restoring balance and fairness to the system by enabling states, if they so choose, to enforce the collection of taxes that are already owed by every customer making a purchase, whether the purchase is online or in a retail store."
The statement continued: "Most retailers calculate and collect the tax at the point of sale, as required by law. However, online-only merchants currently do not have to collect the tax broadly, leaving the customer with the responsibility of saving receipts and filing and paying use taxes for those purchases on their state income tax returns. The Marketplace Fairness Act will correct a system that has given a significant and unfair competitive advantage to a handful of online-only retailers, while hurting those that create jobs and invest in local communities."
Trex taps former Kohler exec for board
Winchester, Va.-based Trex appointed Michael Golden to its board of directors.
Golden, 59, served as the president and CEO of Smith & Wesson Holding Corp. from 2004 until his retirement in 2011. He continues to serve as co-vice chairman of the board of that company.
Golden was employed in various executive positions with the Kohler Co. from 2002 until joining Smith & Wesson in 2004, most recently serving as president of Kohler’s Cabinetry Division. He has also served in executive capacities for the Stanley Works Co. and Black & Decker.
Ronald Kaplan, chairman, president and CEO of Trex, said: “Michael’s distinguished career and his demonstrated expertise in introducing high-quality products, expanding market reach and leveraging opportunities related to strong brands will all be extremely valuable to Trex.”
In addition to his service on the board of Smith & Wesson, Golden also serves on the board of Infinity Resources Holding Corp.
Flint & Walling acquires Wolf Pumps
Kendallville, Ind.-based Flint & Walling, a division of Zoeller Corp., acquired Wolf Pumps of Abernathy, Texas.
Terms of the deal were not disclosed.
“The Wolf Pump acquisition enhances F&W’s position as a complete single line supplier of American-Made pumps for our wholesale customers,” said Flint & Walling president Scott Lechner. “Wolf is a highly successful company manufacturing products that complement and strengthen our current offering. With our established engineering and sales expertise, we feel we can further expand and grow on Wolf’s current success, including incorporating a component build program both in Kendallville and with many of our key wholesale customers.”
Wolf Pumps are sold through a network of distributors.