Looks like mean ol’ New York is going to start taxing Amazon.
Savvy shoppers have long enjoyed a simple rule of thumb: buy from out-of-state e-tailers, save the tax. The Empire State is the first (and so far only) state to require online retailers to collect sales tax even when they have no “physical presence” in the state, such as a store, a warehouse, or even a sales rep. Amazon and rival Overstock.com (OSTK) say the law is unconstitutional, and each has filed suit against the state. “We’ve worked very hard not to become a tax collector,” says an Overstock spokesperson.
Attention, Online Shoppers: Taxes Ahead
Tags: Taxes