Today in business: 5 things you need to know

The Senate nears a vote on internet sales tax, LG Display's profits dip, and more in our roundup of the business stories that are making news and driving opinion

LG's profits have fallen by 74 percent since last quarter.
(Image credit: David Becker/Getty Images)

1. SENATE PLANS VOTE ON INTERNET SALES TAX

Our final days of tax-free internet spending may be upon us: The Washington Post says the Senate may vote as soon as Monday on whether to give states the authority to collect sales tax on all internet purchases. Introduced by Sen. Mike Enzi (R-Wyo.), The Marketplace Fairness Act would allow states to collect sales tax on out-of-state vendors selling goods to state residents, and could lead to $11 billion a year in added revenue for states. The outcome looks good for Enzi: The Senate already approved the bill in a symbolic vote in March, 75 to 24. [Washington Post]

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.