Fri Apr 27, 2012, 03:18 PM
TexasTowelie (13,748 posts)
State, Amazon settle sales tax dispute
Ending a nearly two-year battle, Texas Comptroller Susan Combs and Amazon.com have struck a deal that will see the online retailer bring 2,500 jobs and $200 million in capital investment to the state and on July 1 start collecting tax on sales made to people in Texas.
The deal potentially will add hundreds of millions of tax dollars to the state’s coffers — but it also means Texas consumers will now have to pay standard sales tax on any item they purchase from Amazon.
The deal gives Amazon four years to meet its promised jobs and investment numbers. In return for its commitment, Amazon’s agreement “resolves all sales tax issues between Texas and Amazon,” the comptroller’s office said.
Among those previous issues was a $269 million assessment the comptroller’s office levied against Amazon in September 2010 for uncollected sales taxes from 2005 to 2009.
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Response to sonias (Reply #1)
Sat Apr 28, 2012, 03:27 PM
white cloud (2,488 posts)
2. Amazon, Texas make deal
Amazon, Texas make deal
Online retailer Amazon.com reached an agreement with Texas officials Friday to settle a sales tax dispute by expanding operations in the state and starting to collect sales taxes. Texas Comptroller Susan Combs and Amazon said in a joint statement that the settlement calls for the company to bring at least 2,500 jobs and $200 million in capital investments.
GOP passes student loans bill • Republicans ignored a veto threat and overcame a rebellion by party conservatives to push a bill through the House keeping interest rates on millions of federal student loans from doubling this summer. Lawmakers voted 215-195 to approve a bill. The White House and most Democrats opposed the $5.9 billion bill because of how Republicans covered the costs: eliminating a preventive health care fund in President Barack Obama's health care law.
Read more: http://www.stltoday.com/news/national/article_cba824dd-beca-5864-b781-bea47d48799e.html#ixzz1tMgdJCAF