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Amazon Agrees to Pay Sales Tax to New Jersey, Christie Says

New Jersey stands to see as much as $40 million a year in sales-tax revenue from Amazon (AMZN).com Inc., the biggest online retailer, Governor Chris Christie said.

A deal the Republican governor disclosed today will bring to New Jersey $130 million in investments and 1,500 full-time jobs. Amazon will start collecting the 7 percent tax July 1, 2013, Christie said at a Trenton news briefing. Work on two new warehouses in the state may begin next year, he said.

“Today’s announcement marks a first step toward a long- term relationship with Amazon,” Christie, 49, told reporters. “With this agreement, Amazon is stepping up and making a real commitment to our state and to our people.”

The accord is the latest example of Amazon reaching sales tax deals with states: This month a similar arrangement was announced with Nevada and last month the company agreed to begin collecting sales tax in Texas. Agreements with the states may presage federal legislation that would simplify the taxation of online sales, said Christie and Paul Misener, vice president of global public policy for the Seattle-based company.

In New Jersey, the two “fulfillment centers” each will be more than 1 million square feet (92,900 square meters), big enough to fit three aircraft carriers, and will require workers with basic computer skills, Misener said. He said Amazon has a “history of growing in states that welcome us.”

The Arlington, Virginia-based Retail Industry Leaders Association said in a statement that the tax deal will be fairer for traditional stores.

To contact the reporter on this story: Terrence Dopp in Trenton at tdopp@bloomberg.net

To contact the editor responsible for this story: Stephen Merelman at smerelman@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Personal Finance Best Sellers From Amazon

Key Rates

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Today’s national average mortgage rates. Rates may include points.
Type Today 1 Mo
30 Year Fixed Jumbo 4.34% 3.99%
30 Year Fixed 4.01% 3.66%
15 Year Fixed 3.11% 2.79%
10 Year Fixed 3.04% 2.89%
30 Year Fixed Refi 4.00% 3.64%
15 Year Fixed Refi 3.11% 2.79%
5/1 ARM 2.82% 2.59%
5/1 ARM Refi 2.82% 2.60%
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Source: Bankrate.com

Today’s average home equity rates nationwide.
Type Today 1 Mo
$30K HELOC 5.34% 5.34%
$50K HELOC 4.55% 4.56%
$75K HELOC 4.52% 4.57%
$100K HELOC 4.23% 4.27%
$30K Home Equity Loan 5.95% 5.97%
$50K Home Equity Loan 5.97% 6.01%
$75K Home Equity Loan 5.91% 5.97%
$100K Home Equity Loan 5.78% 5.84%
View rates in your area »

Source: Bankrate.com

Today’s average savings rates nationwide.
Type Today 1 Mo
5 Year CD 1.23% 1.23%
2 Year CD 0.70% 0.70%
1 Year CD 0.56% 0.57%
MMA $10K+ 0.46% 0.47%
MMA $50K+ 0.68% 0.69%
MMA Savings Jumbo 0.58% 0.59%
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Source: Bankrate.com

Today’s average auto loan rates nationwide.
Type Today 1 Mo
60 Months Used Car 2.72% 2.98%
48 Months Used Car 2.70% 2.93%
36 Months Used Car 2.76% 2.89%
72 Months New Car 2.50% 2.43%
60 Months New Car 2.66% 2.54%
48 Months New Car 2.58% 2.45%
60 Months Auto Refi 4.00% 4.15%
36 Months Auto Refi 3.57% 3.61%
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Source: Bankrate.com

Today’s average credit card rates nationwide.
Type Today 1 Mo
Standard Variable 14.12% 14.12%
Standard Fixed 13.23% 13.23%
Gold Variable 12.70% 12.70%
Gold Fixed 11.99% 11.99%
Platinum Variable 15.54% 15.53%
Platinum Fixed 12.70% 12.70%
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Source: Bankrate.com