Full story: http://www.latimes.com/business/hiltzik ... 4336.storyAlthough Amazon.com largely abandoned the battlefield in its long war against state sales taxes last year, the Supreme Court on Monday delivered the final articles of surrender. The court turned down the big retailer's appeal of a New York court ruling upholding a law requiring Amazon to collect sales taxes from customers there. It's about time.
You can tell that Amazon knew defeat was coming from the fact that it already was collecting taxes from buyers in New York, pending a final ruling. The biggest sign that the winds were shifting came in 2011, when Amazon signed a deal with California, its biggest market, requiring that it collect state sales taxes starting in 2012. The company now collects taxes from customers in 16 states. Of major states, the issue remains unresolved only in Illinois.
Right now their stock is up 18 cents to its all-time high of 393.80.