News

No revenue spike for Idaho so far from Amazon online sales tax deal

Idaho tax revenues didn’t spike during the first month of collecting online sales tax on internet purchases from Amazon, according to the most recent revenue forecast report.

Earlier this year, the giant e-commerce company announced it had struck a deal with the Idaho State Tax Commission to begin collecting sales tax from Amazon shoppers in Idaho. This prompted several state lawmakers to estimate the deal could result in a big revenue boost and lead to possible tax cuts.

However, the Division of Financial Management’s latest report found that sales tax receipts came in only .8 percent higher than what economists originally projected for May — or around $842,000 more. Economists finalized the projections for fiscal year 2017 before the Amazon deal was announced.

By KIMBERLEE KRUESI

Full Story: http://www.cdapress.com/article/20170608/AP/306089954

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.