A new crop of B2B e-marketplaces lure manufacturers, wholesalers and distributors with promises of new markets and growth—but they can also represent tough new ...
The state says Amazon.com Inc. owes for nearly four years of uncollected tax.
Amazon.com Inc. reported in a recent financial statement that the state of Arizona has issued it a bill for approximately $53 million for uncollected tax on retail sales.
In its annual 10K financial statement for the year ended Dec. 31, 2011, filed with the U.S. Securities and Exchange Commission, the world’s largest retailer by web sales says Arizona issued it a bill last November for tax and interest related to sales transactions from March 1, 2006, through Dec. 31, 2010.
“The State of Arizona is alleging that we should have collected a transaction tax that is similar to a sales tax on applicable transactions during those years,” Amazon says in the SEC filing. “We believe that the assessment is without merit and intend to vigorously defend ourselves in this matter.”
In September 2010, Texas issued Amazon a bill for $269 million, including interest and penalties, related to uncollected sales tax for the period from December 2005 to December 2009. Amazon is challenging the Texas assessment, the retailer says in its recent SEC filing.
Amazon is No. 1 in the Internet Retailer Top 500 Guide.