If Amazon's been your internet safe haven from the ravages of sales tax, you may want to sit down. As part of a settlement with the great state of Texas, Bezos' baby will start collecting the state's requisite 6.25-percent sales tax on July 1st. The settlement resolves the online retailer's ongoing dispute with the Lone Star state, which claimed that Amazon owed $269 million in back taxes. In addition to taking up collection, Amazon has agreed to create at least 2,500 jobs and invest a minimum of $200 million in capital investments, though it admits no fault, and believes "the assessment was without merit," according to its latest SEC filing. Grouped in with Kansas, Kentucky, New York, North Dakota and Washington, this agreement makes Texas the sixth state to collect sales tax from Amazon -- and California, Nevada and Arizona will join the collection club in due time. Check out the source links below for the Texas Comptroller's official statement and more reading on Amazon's tax agreements across the nation.
Amazon to collect sales tax, create 2,500 jobs in Texas
Sean Buckley|@seaniccus|April 30, 2012 6:22 AM