Amazon Fights NY State Online Sales Tax

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Dec. 2 (Bloomberg) -- Phil Mattingly reports on Amazon's fight against New York state online sales tax. He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Amazon versus the state of new york and the u.s. supreme court.

Tell us the complaints about charging retail taxes.

This really might have a big impact on the bottom line, depending on what the supreme court decides in the case.

Amazon has long object to the new york hall demanding taxes from the online retailer.

The company argues it will place undue burdens and would violate the constitution by allowing taxes on the company without a physical facility in the state.

New york made the point in its recent to the court that an out- of-state seller uses thousands of new york residents to promote products and solicit sales clearly gives the seller a substantial nexus within the state.

The court will decide whether they want to wade into the battle.

What are the broader implications?

Part of it is that online retailers need some type of framework.

States around the country have considered these types of law.

It is estimated states lost 23 billion dollars in revenue due to lack of collection in 2012. amazon in the initial petition made the point.

Review is merited regardless of the specific state, so this court could provide legislators with the us -- with the authoritative guidance on state taxing ability.

I think it is important point, congress has a stake in this is while -- as well.

All parties involved see a resolution to this.

One major problem, it involves congress.

The senate passed legislation in may that would set a framework in streamlined issues on this, and then nothing.

The bill has big-time support.

The president and amazon and walmart behind it.

The big problem, if the opposition.

The heritage foundation, americans for tax reform and even sifma, who carries major weight on capitol hill him and they are against it.

No plans in the house to move forward on the legislation.

Phil mattingly, thank you.

? let's have some fun this monday.

Moving and shaking this hour, will ferrell, who will go

This text has been automatically generated. It may not be 100% accurate.


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