A recent ruling by the U.S. Supreme Court will likely raise the cost of some online sales and provide an infusion of revenue for New Jersey’s state coffers, but its impact on commercial real estate may be limited.
The public feud between the Kushner Cos. and Jersey City Mayor Steven Fulop continued late last week, as lawyers for the developer threatened additional litigation on top of a lawsuit over a long-delayed, high-profile project in Journal Square.
The U.S. Supreme Court has ruled that online retailers must collect sales tax from customers even in states where they don’t have a physical presence, effectively closing a loophole that has long been seen as a major disadvantage to brick-and-mortar retailers.
