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September 5, 2012 11:05 pm

Impending CA Sales Tax Sparks Amazon Buying Frenzy


New submitter payola writes "On September 15, Amazon will begin adding in sales tax for purchases made in California. This is sparking a buying frenzy among California residents who are rushing to buy consumer electronics and other expensive items on the site before the deadline. Of course, consumers are supposed to pay sales taxes on their online purchases anyway, but few actually do. 'Amazon is not the only Internet merchant affected by the new law. But as the nation's largest online retailer, it has been the main target. More than 200 other out-of-state companies with major business in California may also be on the hook to collect sales taxes on items shipped to the state. The tax revenue from these online sales is being lauded as a win for the debt-ridden state, which estimates it will see an additional $317 million annually as a result; more than $83 million of that is expected to come from Amazon alone.'"

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/qI9R3ve5dK0/impending-ca-sales-tax-sparks-amazon-buying-frenzy

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