Amazon will soon begin charging a sales tax in the Sooner State, reports The Oklahoman.
The online retailing behemoth will start collecting the tax beginning on March first. But, unfortunately, those extra collected funds will not go toward easing the burden of Oklahoma’s massive budget shortfall.
That’s because the extra Amazon revenue was already built into Oklahoma’s budget estimates.
The Amazon revenue is expected to bring in tens of millions of dollars. Governor Mary Fallin said that money will “make a huge difference in (Oklahoma’s) cities and towns.”
Despite Fallin’s optimism, Oklahoma is still expected to have a budget gap of almost $900 billion next year.
In the past, no tax was collected by Amazon at the point of sale. Some have estimated that the state has been missing out on as much as $300 million in revenue due to the Amazon tax break.
