I have Apple TV and even though I can access Netflix and Hulu I cannot connect to the iTunes Store?

Sign out of the iTS with your Apple ID, then sign back in. Problem will be fixed. This is a known issue.

This totally solved my same problem. Thank you Hacintosh!!! People like you who selflessly help us are so very appreciated!

PITA

Well like I said, it is a known issue:

Apple TV: Unable to access Movies, TV Shows, or other iTunes features after updating

http://support.apple.com/kb/TS4526