Weekly Round-Up: Indiana Scores a Deal With Amazon.com

Indiana reached an agreement with Amazon.com on the collection of Indiana sales tax on internet purchases, a press release issued by Governor Mitch Daniels states.

Under the agreement, “the company will voluntarily begin to collect and remit Indiana sales tax beginning January 1, 2014 or 90 days from the enactment of federal legislation, whichever is earlier,” the release provides, indicating that the “state will not assess the company for sales tax for other periods.”

In an interview with Jeremy Hobson at NPR's Marketplace Business, Daniels said that it was difficult to reach the agreement with Amazon. “It took a while to work out, but they were very cooperative. Deals aren't that hard when both parties start from the same premise and we do -- namely that the sales taxes that they impose ought to be paid, and paid by everybody equally and collected by everybody in the retail business,” Daniels states in his interview with Hobson.

Indiana becomes the fourth state to strike a deal with Amazon, joining California, Tennessee, and South Carolina.

The impact of the news is already evident. Simon Property Group Inc. had filed a complaint against the state last November over this issue and said it will dismiss the complaint in light of the announcement, BNA correspondent Nora Macaluso writes in her story covering this development.

Jeremy Hobson’s complete interview with Indiana Governor Mitch Daniels can be found here.

In other developments…

Alston & Bird LLP issues a new advisory on Delaware’s new proposed regulations on unclaimed property.

Reed Smith issues a client alert on Delaware’s new proposed regulations on unclaimed property.

Third Circuit addresses important unclaimed property issues and confirms New Jersey's "Third Priority Rule" is invalid, a new client alert by Morrison & Foerster LLP provides.

Morrison & Foerster LLP releases its January 2012 edition of New York Tax Insights.

Nick Kasprak, of the Tax Foundation issues a new report: States Vary Widely in Number of Taxpayers Deducting State or Local Sales Taxes.

Minnesota Governor Mark Dayton unveils $775M jobs bill, Jennifer Brooks, of the Star Tribune, reports.

Compiled by Priya D. Nair
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