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sales and use tax
Also in 2014, Amazon acquired the right to administer the [[.buy]] top level domain in an auction for $4,588,888<ref>{{cite web|title=Wow: Amazon.com buys .Buy for $4.6 million, .Tech sells for $6.8 million|url=http://domainnamewire.com/2014/09/17/amazon-dotby-dottech/|date=|author=Domainnamewire.com|publisher=}}</ref><ref>{{cite web|title=.Buy Domain Sold to Amazon.com for $4,588,888|url=http://uttamujjwal.com/2014/09/buy-domain-sold-amazon-com-4588888/|date=|author=Uttamujjwal.com|publisher=}}</ref>
Also in 2014, Amazon acquired the right to administer the [[.buy]] top level domain in an auction for $4,588,888<ref>{{cite web|title=Wow: Amazon.com buys .Buy for $4.6 million, .Tech sells for $6.8 million|url=http://domainnamewire.com/2014/09/17/amazon-dotby-dottech/|date=|author=Domainnamewire.com|publisher=}}</ref><ref>{{cite web|title=.Buy Domain Sold to Amazon.com for $4,588,888|url=http://uttamujjwal.com/2014/09/buy-domain-sold-amazon-com-4588888/|date=|author=Uttamujjwal.com|publisher=}}</ref>
==Sales and use taxes==
Many states and local governments collect sales and use taxes. A sales tax is paid by the buyer when goods are services are purchased and collected by the seller, who turns the taxes over to the state at the end of each month. A use tax is paid by the buyer at the end of the year when the seller is located out-of-state and not collected at the time of sale. In Amazon's early years, it refused to collect sales taxes in states where it was not physically present. Because many people fail to pay use taxes, local merchants complained that on-line retailers had a competitive advantage because they were not collecting sales taxes. Amazon now has a physical presence (in the form of warehouses, server farms or offices) in most states, and has built an nationwide database to compute the correct sales tax based on the location of the on-line buyer. This give it a competitive advantage over other on-line retailers. Amazon lobbies to force all on-line retailers to collect state and local sales taxes.<ref>cite news|url=http://www.cbsnews.com/news/trump-tweet-amazon-sales-taxes-off-the-mark/|title=Trump's misfired tweet about Amazon sales taxes|work=CBS Moneywatch|date=June 29, 2017|accessdate=June 30, 2017}}</ref>
In response, on June 28, 2017, President [[Donald Trump]] tweeted:<br>
[[File:Amazontaxes.jpg|center]]<br><br>
People are arguing whether he meant that the reports of Amazon not paying taxes is "fake news" or whether the Amazon company itself is fake news. Amazon and the [[Washington Post]] have different ownership.
==See also==
==See also==
* [[Amazon effect]]
* [[Amazon effect]]