TMCnet News
KA-CHING! [State Legislatures](State Legislatures Via Acquire Media NewsEdge) Florida expects to see its sales tax coffers grow about $80 million annually, thanks to an announcement by giant Internet retailer Amazon.com that it will start collecting taxes on purchases there. In the past, Floridians have been able to buy at Amazon.com without paying taxes. But the company soon will have a physical presence in Florida-it is building warehouses in Lakeland and Florida-so it can no longer take advantage of a legal loophole allowing it to skip collections. Amazon collects sales taxes for purchases sent to 20 states, according to the Tampa Tribune. The proposed Marketplace Fairness Act, under debate in Congress, would make all online retailers collect taxes, eliminating a price advantage they have had over local brick-and-mortar stores. (c) 2014 National Conference of State Legislatures |