Big Box Retailers Plan to Hurt Small Competitors

Several states are considering proposals to exempt the sales tax portion of business transactions from credit-card processing fees. These fees—imposed by interchange platforms such as Visa, MasterCard, and American Express—typically amount to around 2% of the total transaction. Since 2006, 29 states have considered variations of this proposal. None have passed—for good cause. The onerous compliance costs and equipment changes would fall disproportionately on smaller businesses—often surpassing the promised savings. Read Full Article »