Civic Economics recently published a report entitled “The Fiscal and Land Use Impacts of Online Retail” analyzing the effect of the rise of online retailers on state tax revenues and jobs.

The report found that almost half of all states do not collect sales tax from purchases, and other states only collect partial sales tax, resulting in lost tax revenue nationwide of $625 million in 2014. Additionally, the study found that Amazon made $44 billion in sales of retail goods in 2014. These sales were roughly equivalent to 31,000 retail storefronts or 107 million square feet of commercial space, which represents $420 million in lost property taxes. The study further found that Amazon sales resulted in a net loss of 135,973 retail jobs across the nation in 2014, even considering the jobs created by Amazon’s various facilities. 

For more information, read the full report here.

alliantNational, alliantgroup’s national practice, provides subject matter expertise on complex and emerging federal, state and international tax issues as well as legislative and regulatory affairs to help businesses receive timely and precise guidance on all their tax matters. Contact us today to learn how your business can benefit from alliantgroup’s tax consulting services.