Internet Giants Mull Calif. Pullout to Avoid Taxes

Townhall.com Staff
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Posted: Jun 01, 2011 11:01 AM
Internet Giants Mull Calif. Pullout to Avoid Taxes
Internet companies such as Amazon and Overstock are threatening to pull out of California rather than collect state sales tax on tens of millions of dollars worth of business, the Los Angeles Times reports.

The move comes after the Golden State’s Assembly passed a law expanding the tax to Internet sales for companies that have a physical presence or sister companies with offices there.

The move passed the Democrat-controlled lower house on Tuesday on a 47-16 vote. It now goes to the Senate.

Read more on Newsmax.com: Internet Giants Mull Calif. Pullout to Avoid Taxes