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The agreement between the shopping gargantuan and Texas Comptroller Susan Combs was announced today, ending the state’s two-year effort to collect $269 million for uncollected sales taxes from 2005 to 2009, the Austin Statesman says. Amazon has fought Texas, California and other cash-hungry states that want the online retailer to collect sales taxes that residents would otherwise pay at a physical store.
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As a result of the deal, which could add hundreds of millions of dollars to the state’s coffers, Amazon will move forward with plans to create 2,500 jobs in Texas and make $200 million in capital investments over the next four years. The deal “resolves all sales tax issues between Texas and Amazon,” according to a news release from Combs’ office. That means Texas has dropped its efforts to collect the $269 million. Click here to read more.
Make sure to like this page so that your friends in Texas know what is happening.
Originally seen on http://elev8.com/
