Thursday, May 26, 2011

Amazon CEO Jeff Bezos Claims It’s Unconstitutional For States To End Company’s Multimillion Dollar Tax Dodging

Okay, we all probably like to save on sales tax when we make an online purchase. Yet, it's important to realize that the Amazon Loophole, in which companies set up subsidiaries in states and then claim they do not have to collect sales tax, provides an unfair advantage for online over local businesses, and starves states of desperately needed sales tax revenue. For example, in 2011 Wisconsin will lose an estimated $127 million in uncollected sales taxes for online purchases.

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