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Amazon only agreed to collect the 6.6% state sales tax, but there was no requirement to collect local sales taxes, which can bring total tax close to 10%. [16] This was an agreement between Amazon and Arizona, which mainly centered on Amazon's tax obligations because it maintains warehouses in Arizona.
Once exempt from most state and local sales taxes, Amazon.com Inc. (NASDAQ: AMZN) now collects the taxes in at least nine states, including New York, Texas, California, and Massachusetts.
For example, if you deducted $1,500 in state taxes last year, but your state refund this year was $2,000, you only need to report a tax refund of $500 on your federal income tax return.
That state tax refund you just got is a nice little chunk of change; ... Social Security Payment Schedule 2022: ... Among states that collect income tax, the rules vary. ...
Illinois (1967) and Quill Corp. v. North Dakota (1992), retailers, including catalog and online sellers, only need to collect sales and use tax for states where they have a physical presence. [8] [9] If an online retailer does not collect sales tax at the time of purchase, the consumer must pay the use tax due directly to the state. While ...
“As you operate online, the state where you live will get the sales tax rather than your firm’s location.” Note that there are situations when the platform doesn’t manage sales taxes.
On Monday, the U.S. Senate passed the Marketplace Fairness Act, which would give states the ability to require Internet retailers with more than $1 million in out-of-state sales to collect sales tax.
With at least one type of tax, though, millions of Americans break the law every year -- and many of them probably never realize it. And now, states in desperate need of more tax revenue are ...