Content about Tax

April 26, 2012
And speaking of Amazon.com . . .

First quarter sales at the leading online retailer surged 34% to $13.2 billion during the first quarter ended March 31, as the company continues to enjoy a huge competitive advantage by allowing customers to avoid paying sales tax.

April 19, 2012
One area where Amazon.com doesn’t have an advantage

Walmart and other retailers have fought unsuccessfully for years to level the e-commerce playing field in the United States by requiring Amazon.com and other online-only merchants to collect sales tax. Doing so would eliminate the Internet pure play retailers’ most significant competitive advantage, and for a glimpse of just how significant that would be, look no further than Canada.

March 29, 2012
Jackson Hewitt named a Walmart Supplier of the Year

Jackson Hewitt Tax Service, the nation's second largest tax preparation firm, has been named Supplier of the Year by Walmart's financial services division.

February 23, 2012
Will consumers do what they say with their refunds?

Losing weight is a little like saving money. Consumers will always intend to do more of both, but then reality sets in and they tend to do neither. Retailers can count on that pattern holding true this year, which is good news because a recent study by the National Retail Federation shows those planning to save their tax refund is at an all time high.

January 9, 2012
Walmart preps for tax season

Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation preparation services and free in-store federal Form 1040EZ filing.

November 11, 2011
Sears Holdings supports bill to level sales tax playing field

Sears Holdings Thursdayexpressed support for S. 1832, the Marketplace Equity Act, introduced by U.S. Sens. Enzi, Alexander and Durbin.

November 3, 2011
RILA and business groups urge Congress to close sales tax loophole

The Retail Industry Leaders Association, along with 125 business groups and employers nationwide, on Wednesday asked the Congressional Joint Select Committee on Deficit Reduction to include in their recommendations to the House and Senate a provision that would close the online sales tax loophole that is harming brick-and-mortar retail businesses and the communities they serve.

October 26, 2011
NRF welcomes proposal to reform corporate tax structure

The National Retail Federation said it welcomed a proposal unveiled by House Ways and Means Committee Chairman Dave Camp, R-Mich., to reform the nation’s corporate tax structure.

October 17, 2011
RILA opposed to national sales tax; would stunt consumer spending

With the presidential campaign in full swing and discussion of a new national sales tax as a component to tax reform being discussed, the Retail Industry Leaders Association (RILA) reiterated the strong opposition of the retail community to any sort of national sales tax or Value Added Tax (VAT).

August 2, 2011
How good is Amazon.com?

Buying online from Amazon.com is a fantastic experience.

August 1, 2011
Internet retailers get dealt taxing blow

WASHINGTON — Amazon and other online-only retailers have been dealt a major blow, as legislation introduced last week seeks to require such retailers to collect sales tax.

The Main Street Fairness Act would allow states that have adopted the Streamlined Sales and Use Tax Agreement to require out-of-state sellers to collect sales tax whether they have a physical presence in their state or not. The bill would cover all “remote sellers,” which include online retailers, catalog merchants and “1-800” offers on radio and television.

June 2, 2011
NRF sends Sears exec to Washington

WASHINGTON — Sears Holdings VP tax James Misplon testified on behalf of the National Retail Federation, urging Congress to focus on jobs and the economy as lawmakers explore options for corporate tax reform.

Misplon testified before the House Ways and Means Committee this morning during a hearing on how corporate tax reform can encourage job creation. Sears Holdings is an NRF member and Misplon chairs the NRF Taxation Committee.

April 28, 2011
Safeway shows sales improvement

Higher fuel sales and a slight increase in identical-store sales helped Safeway meet its expectations for the first quarter of 2011.

April 1, 2011
Oops! Bad tax advice costs Office Depot $80 million

The $33 million profit Office Depot posted in 2010 turned into a $46 million loss late Thursday after the company released restated financial results that reflected an unfavorable tax ruling by the Internal Revenue Service.

March 11, 2011
February retail sales show biggest gain in four months

U.S. retail sales rose 1% in February, boosted by job gains, the tax cut and more seasonable temperatures, the Commerce Department reported Friday. It was the highest gain in four months. Sales excluding autos increased 0.7%.

March 4, 2011
NRF welcomes repeal of tax provision in healthcare law

The National Retail Federation announced that it welcomed the House of Representatives' vote to repeal a provision in last year’s healthcare reform law that would widely expand the number of IRS 1099 tax forms businesses would be required to file.

March 2, 2011
Staples grows profits despite soft sales

Fourth-quarter sales at Staples increased slightly to $6.4 billion, net income increased 17% to $275 million, and earnings per share increased 19% to 38 cents courtesy of a favorable tax benefit of six cents.

March 2, 2011
Warehouse sector a quarterly bright spot

The past three-months were favorable to the warehouse sector, as both Costco and BJ’s Wholesale reported quarterly results that were in-line with or beat analysts’ expectations.

February 24, 2011
Target turns in a solid year aided by tax benefit

Fourth quarter earnings per share at Target advanced 17% to $1.45 compared with $1.24 the prior year, thanks to a seven-cent-a-share tax benefit, and quarterly profits were slightly more than $1 billion compared with $936 million the prior year.

January 25, 2011
NRF welcomes focus on jobs in state of the union address

The National Retail Federation announced that it welcomed the focus on job creation and the economy expected in President Obama’s State of the Union Address.

December 17, 2010
Industry groups applaud tax cut package

The National Retail Federation and the Retail Industry Leaders Association both issued statements supporting the final passage of a bipartisan agreement for extending critical individual and business taxes.

November 17, 2010
Children's Place lowers FY outlook after tough Q3

The Children's Place Retail Stores announced third quarter net sales of $453.4 million, a 2.1%...

October 26, 2010
Results improve at ODP, search on for CEO

Two days after announcing the resignation of chairman and CEO Steve Odland, Office Depot on...

July 15, 2010
NRF calling for policies that create jobs

The National Retail Federation announced that it has told House Republican leaders that Congress needs...

June 28, 2010
B&N reports 4Q loss

Barnes & Noble reported that total sales for the fourth quarter were $1.3 billion, a...

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