Business

Amazon.com to pay $269 million to Texas
by Zivka Deleva

The Internet retailer Amazon.com will have to pay 269 million dollars to the State of Texas in behalf of the uncollected sales taxes for purchases, including interest and penalties in the last few years. That surprised a little bit the company's management. One of the biggest U.S. problems at the moment are states' budgets that are so slim that the governors must think of the best ways to make the cashboxes richer. Amazon doesn't deny that it should pay that money and understands the situation that states are all waisted in their money pockets. Amazon.com from time to time is having legal problems with some of the United States countries. Like in April this year, the comp! any had problems with North Carolina's department of revenue. This kind of regulation is pretty new even in the country of the retail machinery. Amazon doesn't have problem with Texas decision, but the sum. How did the Texas financial officials have come to the figure of 269 million dollars? The State of Texas explained that that bill came as a result of the sales taxes from December 2005 to the same period 2009, but in the sum it has included extra interest and penalties, as well. Amazon.com has hidden this bill few months from now. The company didn't like the idea that it should take away that sum from 7.56 billion dollars revenue and great percentage of 16 jump for the third quarter of this year. They are not planning to pay the sum and are going to look for the justice on court. Amazon is surprised as well because as officials say, they don't have that big business in that state. Texas, on the other hand, explains that the untaxed online sales make the states budge! t lower for about 600 million dollars per year, and that is no! t a sum to be avoided. It is no wonder that other states as well are going to follow Texas step. Who wouldn't dare?

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

posted by Blog TechSource @ 1:36 AM