New Jersey Assembly approves bill to provide tax breaks for Internet retailers by 70-7 vote; New Jersey Senate has not addressed issue
March 16, 2012
– While the New Jersey Assembly has approved a bill to provide tax breaks for Internet retailers by 70-7, the New Jersey Senate has not addressed the issue, Bloomberg reported March 15.
The Assembly approved the bill, which would give Internet retailers with buildings in the state that hire a minimum of 1,500 full-time employees and invest a minimum of US$130 million a temporary reprieve on collecting taxes until June 30, 2013, by a vote of 70-7.
New Jersey Assemblyman Albert Coutinho, the sponsor of the bill, said that Amazon Inc. is planning to construct two distribution centers in Delaware, New Jersey or Pennsylvania.
The bill will provide a tax break of $40 million for Amazon, Coutinho estimated.
New Jersey Senator Ray Lesniak, the sponsor of the bill, said that he was attempting to negotiate a compromise between corporate officials and Senate members.
A spokesperson for Amazon, Mary Osako, declined to comment on this issue.
The primary source of this article is Bloomberg, New York, New York, on March 15, 2012.