logo
Share SHARE
FONT-SIZE 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
Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock.
comments powered by Disqus
RELATED NEWS
Trade AMZN now with 
Follow RTT