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Senate planning vote on Internet sales tax bill

The days of tax-free online shopping could finally be numbered. The Senate is planning to vote on a bill as soon as Monday that would give states the authority to collect sales taxes on all Internet purchases, handing local governments as much as $11 billion per year in added revenue that they are legally owed — but that hasn’t been paid to them for years.

 

Facebook's Mark Zuckerberg faces $1 billion tax bill

Mark Zuckerberg - CNN

Facebook's stock market debut left founder and CEO Mark Zuckerberg with a paper fortune currently valued at $13 billion -- and a 2012 tax bill of around $1.1 billion.vZuckerberg's whopping tax hit stems from his move last May to increase his stake in Facebook. On the day of Facebook's initial public offering, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a "strike price" of 6 cents each.

 

Email tax may slice spam and scams out of inboxes

Gordon Wozniak

A Berkeley city councilman has proposed a tiny levy on senders of large batches of unwanted time-wasters. The most courageous politician in California — probably the nation — is a Berkeley city councilman, Gordon Wozniak.

 

Facebook says no secondary offering to cover tax bill

Facebook Inc promised not to sell stock to cover a nearly $2 billion tax bill and said it will allow employees to cash in their stock weeks ahead of schedule, moving to soothe nervous investors and its own staff as its share price spirals downward.

 

California to target Web retailers for sales taxes

The California tax man cometh, and he's headed for the Internet. State tax collectors are preparing to crack down on renegade Internet merchants who don't collect sales taxes, and nearly 100 new state auditors, lawyers and other specialists are being hired to help over the next three years.

 

Retailers revive call for Internet sales tax

Amazon

Online sales are soaring. State budget deficits are growing. And tax-free Internet sales are once again in the spotlight. Congress is considering bills that would “level the playing field” by allowing states to require all online merchants doing business in that state to collect sales tax. Web retailers have largely had a free ride since a 1992 Supreme Court ruling that only merchants with a physical presence in a state are responsible for collecting sales tax.

 

Facebook's Eduardo Saverin Saves $67 Million in Tax by Leaving US

Facebook Inc. co-founder Eduardo Saverin will save at least $67 million in federal income taxes by dropping U.S. citizenship, according to a Bloomberg analysis of the company’s stock price. Those savings will keep growing if Facebook’s shares increase.

 

Groupon reports quarterly net loss

Groupon Inc reported a quarterly net loss Wednesday as the largest daily deal company recorded higher taxes overseas.

 

Ai Weiwei fans raise funds to pay his massive tax bill

Ai Weiwei fans raise funds to pay his massive tax bill

In a strong affront to the Chinese government’s attempt to censor artists and internet users, fans of the artist Ai Weiwei have raised more than $830,000 in three days through social media to help the artist fight a $2.4 million tax bill from the state.

 

Amazon offers Calif. 7,000 jobs if it drops tax

Amazon.com Inc has proposed a hiring spree of 7,000 jobs in California if state leaders put a recently enacted online sales tax on hold for two years.

 

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