Amazon.com began collecting sales
tax in North Carolina as of February 1st this year. This move
makes North Carolina the 20th state in which the online retailer
collects sales tax. Amazon’s decision to claim sales tax made local retailers
happy, as many complaints have been issued stating that Amazon received an
unfair advantage by not having to pay sales tax. According to the CPA
Practice Advisor, “Under the current system in North Carolina, taxpayers
are supposed to pay a "use tax" on online purchases and declare them
on their state tax returns. Few do. One 2010 estimate said failure to pay the
taxes costs the state, its cities and counties $190 million a year in lost
revenue”. What are your thoughts on Amazon collecting sales tax?
518 Arbor Hill Rd.
Kernersville, NC 27284
Ph: 336-996-3338
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
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