 Well, welcome back to Cheddar everyone and we also want to welcome those of you listening to Cheddar on iHeartRadio All right guys South Dakota and a number of other states are trying to get online retailers like Wayfair to pay state sales taxes Even if that company doesn't have a physical store in that state The debate has made its way to the Supreme Court and a decision should be made today with us now is Melissa Armo owner at the Stock swoosh. Melissa. Thanks for joining us today. Can you put this into can you put this into context for us? How big of a deal is this for internet companies like Wayfair? I think this is a big deal. In fact, I think the outcome of the decision today is a big deal not just for Wayfair But for over stock com Amazon other companies that well that sell a lot of things online This is a big decision today I actually nobody really knows what the outcome is going to be because they thought it was going to side originally Morton favor of South Dakota and now nobody knows but one thing's for sure if they end up deciding in the favor of the states Where they will allow pretty much anything to be charged that the states decide in their favor for the taxes and a lot more States are going to start to charge and you could see a reaction today a negative reaction in the stocks that I just mentioned Whereas right now Wayfair looks great Amazon looks great I mean some of these stocks have been looking great for quite a long time now and they could have a negative reaction Of course, they could have a positive reaction if it turns out to be in their favor just we don't know What's a good outcome for consumers here? That's the problem for consumers obviously. We don't want to pay any more taxes You know as a person that shops online. I'm sure you both shop online, too Why I it's nice to be able to order something and not have to pay the tax Whereas if I would go into a local store here in Manhattan, I would pay a tax So this is to benefit the states It's not to benefit the consumer if they do pass this tax and allow it and it's definitely not to benefit the corporations because then What's going to happen is these big corporations are competing one of the reasons they've done so well as they're competing head-to-head with? Brick and mortar stores brick and mortar retail stores that do have a physical presence in the states and are forced by state law required to Charge their their requisite tax and so it depends where you are in the spectrum if you're like a best buy And you've got a physical presence in a state or if you're like an Amazon and you don't it depends what kind of corporation you are But these stocks have really seen the benefit of sales because they don't have to charge taxes which makes it cheaper for the consumer There's no good outcome here for the consumer if it passes and it's a and all the states are allowed to charge taxes for online Goods and purchases Melissa if South Dakota if that side of the debate wins here aside from regular consumers who stands to lose the most here Will smaller retailers be able to sort of keep up with calculating these taxes and imposing these taxes on their users? You mean if they're if they're not if they if they sign in the favor of the way fair Are you lost me there are South Dakota wins exactly exactly? Yeah Are you saying a small business this could benefit? Not necessarily because you know you're still gonna price shop some certain items that you want You're gonna go get the best price and when you're competing against some of these stores like Wayfair that it has really competitive prices Over stock comm very competitive Amazon competitive It's still hard for any mom-and-pop store any small business to compete with these stores I mean I think they'll find another way that they'll find another way But as far as the consumer you're still I think in a same worth We have to pay less taxes, but you know no matter no matter how you look at it I don't think that the old or the small mom-and-pops can compete against these big retailers And this is the environment that we're going and we're going in an environment where there's less mom-and-pops Less small businesses and more of these giant Gigamongous places that sell stuff that are just becoming bigger and bigger and bigger right? So I mean what I mean is could this be even worse for those small retailers who can't afford to have to charge higher taxes For their customers and then say an Amazon. Yes, definitely. They're definitely getting worse for this. Yes Okay, so I guess my question would be Melissa. There's already over 30 states already taxed internet purchases So how big of a deal is this to report decision anyway? Well, I don't really know exactly who taxes what but if I might be I think it's part of the problem though It's Barry's there are 31 states, but they all have different tax rates in other words if I if I want to buy something I'll mine right now. I'm pretty certain with Amazon. I don't pay almost 9% Which is New York sales tax rate. So whatever the tax rate is It's a it's a less tax rate than it is if I walk into a store and buy a pair of shoes So, right that's why this is so specific and eventually It eventually makes to have to go to Congress and the Congress may have to vote on this because this is becoming a bigger and bigger deal All right, Melissa. We'll have to leave it there. Thank you so much as always Melissa Armo owner at the stock swoosh Thanks for joining us here today. All right guys. It is time to say goodbye Don't go anywhere between bells is starting next