StateTax
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Amazon to start collecting sales tax in New Jersey beginning July of next year
Taxes. Taxes. Taxes. That's what you folks living within the Garden State will have to pay on Amazon purchases starting July 2013. The recent news -- which is likely to cause some of you to throw a minor temper tantrum -- comes shortly after Jeff Bezos & Co. settled with the Texas government to also begin collecting sales tax in that state. Similar to the Lone Star deal, though, Amazon's agreed to create about 1,500 full-time jobs by building a couple of distribution centers in New Jersey -- and let's face it, job creation is always good news. Sorry, but looks like the Jersey Shore crew will have to spend a couple extra bucks the next time they place an order for that weekly stock of tanning lotion.
Apple defends its tax practices in the New York Times
A recent New York Times article slams Apple for avoiding billions in state and federal taxes using common corporate loopholes. Apple didn't take kindly to this report and has issued a four-paragraph response defending its practices. The Cupertino company says it pays "an enormous amount of taxes which help our local, state and federal governments." Besides paying taxes, Apple also points out that its "among the top creators of American jobs in the past few years." You can read the full response on the New York Times's website. Also of note, Forbes magazine has pointed out that one of the key numbers in the Times story -- Apple's supposed 9.8% effective federal tax rate -- is hooey.
