Archives For Amazon.com

An analysis of Jeff Bezos’ personal tax situation suggests his purchase of the failing Washington Post Company may not be as self-indulgent as many have claimed.

In an open letter to Post staff, Bezos, the 49-year-old multi-billionaire and chief executive of Amazon.com Inc, said: “I won’t be leading the Washington Post day-to-day.”

That statement comes with a hefty tax consequence, making reporters even more perplexed as to what exactly motivated the 19th richest person in the world to pickup a an old, downward-sliding paper company.

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A measure to extend state sales tax to all online purchases is getting the attention of some major lobbyists.  With a Senate vote on the Marketplace Fairness Act (MFA) expected as early as tomorrow, stakeholders are making their voices heard.

In one corner, there’s the forces of major retail like Best Buy, Wal-Mart, and the online giant – Amazon.com. They’re joined by the bipartisan National Governors Association and smaller retail owners in the years-long fight to require state sales tax be applied to all internet purchases.

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The MFA has its big-gun supporters, but they’ve got powerful competition from the likes of eBay, Overstock.com and most recently, Wall Street; the Securities Industries and Financial Markets Association (SIFMA), which represents hundreds of companies including Goldman, Sachs & Co., Morgan Stanley, and E*TRADE Financial Corp, recently came out in opposition to the bill in fear of it leading to a financial transactions tax on bonds, stocks and derivatives. Continue Reading…

Its closing time, online shoppers. Your days of tax-free purchases could soon be over, so order your whiskey and flat screen television fast. Late last week, by a 75-to-24 vote, the Senate made clear its support for a national sales tax on a variety of internet purchases.

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Amazon-LogoSince 2005 Amazon.com has avoided paying taxes on over $2 billion of income.  Like other multinational corporations, Amazon has taken full advantage of transfer pricing rules to legally exempt massive amounts of foreign profits from taxation.  Their winning strategy fulfills their obligation to their shareholders, but government authorities around the world, who had been complacent about the matter until recently, are cracking down on international tax avoidance schemes; Amazon, the global leader in e-commerce,  is at the front and center of the controversy. Continue Reading…

While the Marketplace Fairness Act waits its next trial to pass congress, many states are attempting to pass their own version of the law, which the attached infographic appropriately dubs, “The Amazon Tax Law.” Check it out below to see if your state is in the mix; either way, we recommend enjoying your online shopping tax free while you still can!

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