California lawmakers have reached a compromise with Amazon over state sales tax, ending a back and forth battle that has raged all summer. State lawmakers approved a compromise bill that will give Amazon a one-year break from collecting state sales tax. Amazon’s stock price rose nearly 5 percent on the news. Part of the compromise includes Amazon agreeing to start collecting California sales tax in September, 2012. It’s possible that this could be circumvented by a federal sales tax that has been proposed in the U.S. Senate. So far, the federal measure has not gained much traction, though.
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California Gives Etailers a Year to Push Tax-Collection Bill Through Congress
Posted by: Rob Spiegel September 13, 2011 01:52 PMCalifornia lawmakers have reached a compromise with Amazon over state sales tax, ending a back and forth battle that has raged all summer. State lawmakers approved a compromise bill that will give Amazon a one-year break from collecting state sales tax. Amazon’s stock price rose nearly 5 percent on the news. Part of the compromise includes Amazon agreeing to start collecting California sales tax in September, 2012. It’s possible that this could be circumvented by a federal sales tax that has been proposed in the U.S. Senate. So far, the federal measure has not gained much traction, though.