of $3.9 billion in uncollected 2008 revenues, and assuming no other changes in the makeup of online sales, tax policy, or otherwise, we estimate potential uncollected revenues for the period 2008-2012 will average approximately $4.24 billion annually. Assuming enactment of a small business
exemption, however, reduces the figure to an average of $2.67 billion annually. As shown in Table 8, our estimates are substantially less than the Fox Study’s forecasts over the same period.