Plus   Neg

Amazon Agrees To Collect Sales Tax In Texas, To Create 2,500 Jobs In The State

Texas Comptroller of Public Accounts Susan Combs and Amazon.com Inc. (AMZN) announced an agreement that will lead to the creation of thousands of new jobs in Texas by the online retailer.

As per the deal, between the Comptroller of Public Accounts and Amazon, the Company plans over the next four years to create at least 2,500 jobs and make at least $200 million in capital investments in the state and will begin to collect and remit Texas sales tax on July 1, 2012.

Susan Combs said that the agreement resolves all sales tax issues between Texas and Amazon.

"This is an important step in leveling the playing field in Texas; however, Congress should enact federal legislation that will give states access to revenues that are already due, which would resolve this issue fairly for all retailers and all states," said Combs.

"Amazon looks forward to creating thousands of new jobs in Texas and we appreciate Comptroller Combs working with us to advance federal legislation," said Amazon Vice President of Global Public Policy Paul Misener.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT