California's tax collectors are preparing to open a new front in their battle to collect sales taxes from Amazon.com customers.
A deal inked last year between Amazon and Sacramento means that, for most items shipped from the online retailer's warehouses, sales tax will be collected at checkout starting tomorrow. But, as CNET reported earlier this week, that doesn't apply to hundreds of thousands of items "fulfilled" by Amazon from its warehouses on behalf of other sellers.
That means a New York camera shop could have inventory located in an Amazon warehouse outside of San … Read more
Thousands of units of the new iPhone 5 and other popular smartphones like Samsung's Galaxy S III will likely fly off California store shelves the last week of September, and many of the consumers purchasing them will probably do a double take at the total on the receipt.
That's what happened to CNET reader Debi Scott, who read my story on how much sales tax from new iPhone sales could add to local government coffers (JP Morgan also took note of the iPhone 5's potential as an economic booster shortly thereafter) and thought I might be understating the case. Scott told me how she purchased two iPhone 4S smartphones last year for $199 each at an AT&T store in Visalia, Calif., and was charged more than $100 in sales tax.… Read more
Amazon.com's agreement with Sacramento officials means that, starting Saturday, it will collect sales taxes on items that it sells to California residents.
But Amazon will continue to not collect taxes on hundreds of thousands of items that it lists for sale on its Web site, stores in its warehouses, and packages for quick shipment to California residents.
Those orders -- called "fulfilled" by Amazon -- amount to a tax loophole that has left Sacramento tax collectors a tad unhappy. California sales tax rates are among the highest in the country, topping out at 9.75 percent, … Read more
Two weeks from today, the Apple store in Denver's Cherry Creek shopping center is likely to collect enough sales tax in just a few hours to pay the entire year's salary of one of Denver's city employees.
This assertion assumes, of course, that the iPhone 5 will go on sale across Europe and the United States on September 21 and that it will sell like... well, like an iPhone (the device sells much better than hotcakes these days).
The U.S. Secret Service is looking into claims that someone stole presidential nominee Mitt Romney's income tax returns and is threatening to release them if he doesn't pay up.Secret Service spokesman George Ogilvie told CNET today that the agency is investigating, but had no further comment. The claim was made in a post on the Pastebin site on Sunday that alleged that Romney's federal tax returns were taken from the offices of PriceWaterhouse Coopers in Frankin, Tenn., on August 25 by someone who snuck into the building and made copies of the document. The message … Read more
Google has found a way to avoid paying boatloads in taxes. And U.K. parliament members are not too happy about it, according to a new report.
By the end of March, a Google executive could be brought before parliament members to explain how the company saves so much in taxes, despite generating massive profits each year, the U.K. newspaper The Independent is reporting, citing a discussion with a member of the parliament's Treasury Select Committee.
The Independent claims that Google paid only 6 million pounds ($9.4 million) in U.K. taxes last year, despite generating a … Read more
Leaked from today's 404 episode:
- A real Jurassic Park might be hitting the Middle East.
- World of Warcraft is losing subscribers and Activison's stock is paying the price.
- The truth about winning Olympic medals and the subsequent taxes.
Sprint Nextel said today that the Securities and Exchange Commission is looking into the company's tax collection practices, following a related lawsuit filed by the state of New York.
In April, New York Attorney General Eric Schniederman filed a lawsuit against the Overland Park, Kan., wireless carrier, alleging it had stiffed New York state out of $100 million in taxes. Schniederman sought $300 million as a penalty.
Specifically, the suit deals with whether Sprint properly collected taxes from its customers to be paid to New York.
The SEC probe could suggest that the issue goes beyond New York. Sprint … Read more
Apple is one step closer to being offered $89 million in tax breaks to set up a data center in Biggest Little City in the World, aka Reno, Nev.
The Nevada Board of Economic Development approved a deal on the plan today that was initially negotiated by Reno's city council, according to the Associated Press. Despite, the state being closer to inviting Apple to set up shop, there are still a few more logistics the government must sort out.
Nevada Governor Brian Sandoval, who backs the deal, called the board's decision a "win" for the state, … Read more