Amazon has disclosed in its quarterly filing with the SEC that it has reached a settlement with the Texas comptroller and resolved the state’s claims that the company owned about $269 million in charge in unpaid sales taxes from 2005 to 2009. The company will start collecting taxes on online sales in the state on July 1. The company also committed to create at least 2,500 jobs and make at least $200 million in capital investment in the state over the next four years.
Here is an excerpt from Amazon’s SEC filing:
“While we continue to believe the assessment was without merit, in April 2012, we entered into a settlement with the State of Texas that included an agreement to collect sales taxes on applicable sales transactions for our US-focused internet retailers beginning July 1, 2012, resolution of Texas sales taxes up to that date, certain commitments related to capital investment and job creation in the state, and an immaterial payment to the state.”