No More Tax Free Online Purchases For New York With New "Amazon Tax" Bill
In case living in New York wasn't already expensive enough, state lawmakers passed the "Amazon Tax" bill this week, which will require online retailers to collect sales taxes on purchases shipped to the state, even when they don't have physical operations there.
New York-based retailers have argued for years that the Amazon loophole gives out-of-state online shopping centers an unfair advantage. Technically, consumers are supposed to report purchases they make online on their tax returns, but virtually nobody does it and enforcement is impossible.
The bill still needs a signature from Governor David Paterson to officially become law, but he's widely expected to OK it. The state government expects the new requirement to generate about $50 million in revenue this fiscal year.
Meanwhile, as a resident of this fair city who uses Amazon like her life depends on it, I get to watch my wallet empty 8.375 percent faster - in the middle of a recession! Thanks, government!
... الله يعين ..