Amazon Wasn’t Kidding. Clicks Through.
From giant UBS to small online entrepreneurs, Connecticut has endured a week of bad economic news. Today, doing what it said it would, Amazon cancelled contracts with Connecticut websites that send customers to the online retail site, according to the Hartford Courant. The innovative company said it would take this action when the legislature considered enacting an online sales tax that around the nation has resulted in not a nickel in revenue to states. State budget makers estimated they would raise $9.4 million by enacting the tax.
2 comments
So, in addition to not gaining any additional sales tax revenue, the state will now lose income tax revenue from the individuals and businesses that were affiliates.
My eight year old son understands the economics of this law better than the legislators.
Kevin, please reach out to your connections and insist that OFA update its estimates of the revenues that would be raised by this tax. I would bet that the vast majority of the projection was Amazon-based.
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