Amazon, the SEC, IRS and South Carolina

BookBrowse News - The Full Story

Amazon, the SEC, IRS and South Carolina

May 02 2011

In a regulatory filing Wednesday, Amazon said the Securities and Exchange Commission is looking into its sales tax dispute with Texas. The standoff began last September when the state assessed $269 million from Amazon in uncollected sales tax, interest and penalties for the four years to December 2009. Amazon has since threatened to pull its warehouse operations out of Texas

Amazon has another problem on its hands - the Internal Revenue Service recently sent 'Notices of Proposed Adjustment' for 2005 and 2006 relating to the company's 'transfer pricing' with its foreign subsidiaries. The IRS is proposing to increase Amazon's U.S. taxable income for the seven years starting 2005 by about $1.5 billion.

Amazon have also dropped their plans to build a distribution center in South Carolina' after the state's House of Representatives voted against giving Amazon a sales tax incentive.

More News Stories

Support BookBrowse

Become a Member and discover books that entertain, engage & enlighten!

Join Today!

Editor's Choice

  • Book Jacket
    Tender
    by Belinda McKeon
    Most of us have heard the slightly trite saying: "If you love something, set it free." But one can ...
  • Book Jacket
    All Tomorrow's Parties
    by Rob Spillman
    In this absorbing memoir, co-founder of Tin House magazine, Rob Spillman, recalls his artistic ...
  • Book Jacket: Strangers in Their Own Land
    Strangers in Their Own Land
    by Arlie Russell Hochschild
    Arlie Russell Hochschild's dive into the heart of Tea Party America is as good a glimpse of ...

Book Discussion
Book Jacket
Victoria
by Daisy Goodwin

"A hit…The research is impeccable, the attention to detail, perfect." - The Sunday Mirror (UK)

About the book
Join the discussion!

First Impressions

  • Book Jacket

    I See You
    by Clare Mackintosh

    A dark and compelling thriller about an everyday woman trapped in the confines of her everyday world.
    Reader Reviews

  • Book Jacket

    The Fifth Petal
    by Brunonia Barry

    Beloved author Brunonia Barry returns to the world of The Lace Reader with this spellbinding new thriller.
    Reader Reviews

Who Said...

The only real blind person at Christmas-time is he who has not Christmas in his heart.

Click Here to find out who said this, as well as discovering other famous literary quotes!

Word Play

Solve this clue:

K Your F C

and be entered to win..

Books that     
entertain,
     engage

 & enlighten

Visitors can view some of BookBrowse for free. Full access is for members only.

Join Today!

Your guide toexceptional          books

BookBrowse seeks out and recommends books that we believe to be best in class. Books that will whisk you to faraway places and times, that will expand your mind and challenge you -- the kinds of books you just can't wait to tell your friends about.