tax

The 404 1,210: Where where we survive on ramen and taxes (podcast)

Leaked from today's 404 episode:

- How a movie changed one man's vision forever.

- Google's stock breaks $800 for the first time.

- Report: OfficeMax, Office Depot discussing merger.

- Microsoft moves Outlook.com out of preview.

- Dow 14,000: Stocks near new crest.

- Middle class remains stuck.

- Free File: Do your Federal taxes for free!… Read more

Politicians push bill to help states collect online sales tax

A group of Republicans and Democrats yesterday reintroduced a federal bill that could cost online retailers and customers more money.

The Marketplace Fairness Act would allow states to require online vendors to collect sales and use tax on certain out-of-state purchases. Only businesses with less than $1 million dollars in annual U.S. sales would be exempt.

The bill was debated by the Senate last year but went nowhere. Now a group of 35 House members and 18 senators are trying again. And they're optimistic the bill will pass this time, according to The Hill.

The bill's top … Read more

Amazon, Overstock argue in NY court against sales tax demand

Amazon and Overstock are duking it out with New York state in a court battle over the issue of collecting sales tax.

In a case being heard by the State of New York Court of Appeals, attorneys for both retailers claimed yesterday that a 2008 New York law requiring them to collect sales tax on online purchases is unconstitutional, as reported by Reuters.

A 1992 Supreme Court decision found that retailers can't be forced to collect sales tax on out-of-state purchases unless they have a physical presence in those states. But the New York law skirted that decision. The … Read more

Amazon to begin collecting sales tax in Connecticut this year

Another state will soon be reaping revenue from Amazon as the Internet retail giant has agreed to begin collecting sales tax from consumers in Connecticut.

Amazon will begin collecting the state's 6.35 percent sales tax on items bought on the site from within the state in November, state officials announced today. Kevin Sullivan, Connecticut's commissioner of Revenue Services, told the Associated Press that Amazon's tax collection will add $8 million to state coffers the first year, with $13 million to $15 million in the second year.

Amazon has also agreed to invest $50 million in Connecticut … Read more

Senators aim to extend ban on Internet access tax

A couple of senators in Washington want to make sure people in the U.S. never have to pay taxes for Internet access.

Passed in 1998, the Internet Tax Freedom Act prevents federal, state, and local governments from collecting sales taxes on the use of e-mail and other types of Internet access. The bill is due to expire November of next year.

New legislation introduced yesterday by Republican Sens. Kelly Ayotte (N.H.) and Dean Heller (Nev.) is designed to extend the ban indefinitely. The Permanent Internet Tax Freedom Act would stop governments from imposing new taxes on Internet access.… Read more

Google, Facebook, Amazon may be subject to French taxes

With the Internet being a relatively new concept, governments are still working out how to manage, secure, and legalize the Web. The French government, in particular, has been studying how U.S. companies -- such as Facebook, Google, and Amazon -- are making lots of money from its residents but are paying very little in local taxes.

As a response, French President Francois Hollande has commissioned a report that looks at a new idea: taxing the Internet.

According to the New York Times, the report, which was released on Friday, details a tax that would be levied against Internet-based tech … Read more

India tax officials raid Nokia facility

A Nokia facility in Chennai, India, was raided earlier today by country tax authorities.

According to Reuters, which was first to report on the incident, Nokia confirmed to the news service that a raid was conducted on an office in the southern India city and that the company is cooperating with the probe, but declined to provide further details. An Indian tax official told Reuters that the raid relates to allegations of possible tax evasion against the smartphone maker.

The tax default is believed to be around 30 billion rupees ($543 million), the official told Reuters.

Technology companies commonly find … Read more

Look into tech companies' tax safe havens draws to close

Major tech companies, including Apple and Google, have been the subject of a year-long investigation by a Senate subcommittee into their tax-savings practices, according to a new report.

The Senate Permanent Subcommittee on Investigations, which is spearheaded by Sen. Carl Levin (D-Mich.), has been conducting inquiries into Apple, Google, Microsoft, and Hewlett-Packard, among others, to determine how the companies limit their U.S. taxes, The New York Times reported yesterday, citing people who have knowledge of those proceedings.

According to the Times' sources, the subcommittee's investigation is coming to a close and it will deliver recommendations on handling corporate … Read more

Porn bigwig extradited to Germany for tax evasion

The owner of the world's largest network of porn Web sites was arrested in Belgium and extradited to Germany for alleged tax evasion, according to the Associated Press.

Fabian Thylmann -- the man behind the Manwin porn empire -- is German but lives in Belgium. Local authorities arrested him last week on a German warrant for suspicion of tax evasion. According to the Associated Press, Thylmann did not dispute the extradition.

Manwin specializes in making its Web sites like YouPorn and PornHub optimized for the Internet, which garners the sites an obscene amount of traffic. Daily, Manwin says its … Read more