Saturday, October 20, 2012

It's time to strike down the 'Amazon exemption'

Becky Quick, of CNBC who also writes for Fortune magazine tackles the Amazon advantage of not having to charge sales tax like brick and mortar stores do.  While people are required to disclose their online purchases at tax time and pay taxes then how many people do you believe voluntarily say let me pay more taxes on my online purchases?  Not many.

Full article here

  • It's a great bargain for shoppers but a huge, unfair advantage for the online retailers, which have been beating up their brick-and-mortar counterparts for years. And it's a double whammy for state tax coffers: Not only do the online retailers not collect sales taxes on what they sell, but they are helping put chains like Borders and Circuit City out of business, shutting off what was once a spigot for state and local revenue.

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