VIDEO: Tech Companies DO Move To Avoid Taxes

Posted by on in Blog
  • Font size: Larger Smaller
  • Hits: 6256
  • Subscribe to this entry
  • Print
  • Report this post
Illinois passed an Internet tax law in March to collect sales tax for online purchases if the online retailer has a physical presence in the state (known as nexus.) Amazon and other major online retailers are severing ties with affiliates in states that impose Internet nexus laws. So – an Illinois success story, named one of the 50 Best Workplaces in America – moved across the border to Wisconsin to avoid losing 30% of its revenue. FatWallet even abandoned its new, custom office building on its own 20 acres. And it took them only a few weeks to move!

As Maryland’s Senate Budget and Taxation Committee meets Tuesday afternoon to begin discussions on an expansion of Maryland Sales and Use Tax to Internet Sales, this video of's move to Wisconsin is quite instructive about what could happen here.

Rate this blog entry: