The agreement between the shopping gargantuan and Texas Comptroller Susan Combs was announced today, ending the state’s two-year effort to collect $269 million for uncollected sales taxes from 2005 to 2009, the Austin Statesman says. Amazon has fought Texas, California and other cash-hungry states that want the online retailer to collect sales taxes that residents would otherwise pay at a physical store.
As a result of the deal, which could add hundreds of millions of dollars to the state’s coffers, Amazon will move forward with plans to create 2,500 jobs in Texas and make $200 million in capital investments over the next four years. The deal “resolves all sales tax issues between Texas and Amazon,” according to a news release from Combs’ office. That means Texas has dropped its efforts to collect the $269 million. Click here to read more.