Wish you were here: Mayor’s tax proposal targets online giants

De Blasio's plan designed to get virtual companies to open stores, offices in NYC

TRD New York /
Jan.January 14, 2015 10:07 AM

Mayor Bill de Blasio is aiming to raise taxes on virtual retailers that do business in New York but have no physical presence in the city.

The proposal includes raising taxes on online companies that have yet to open offices in town, Crain’s reported. Businesses without operations in the city have avoided paying taxes on millions of transactions made with customers in New York.

The change would remove the tax break that rewards employers for basing workers outside of New York, Crain’s reported. The idea: to persuade online companies to open up offices and storefronts.

Wal-Mart and Amazon — which recently leased a 400,000-square-foot space in Brooklyn and a building on West 34th Street — are among the companies that could be affected, the website reported.

The mayor’s proposal would also align the tax treatment of online retailers with that of the state’s. [Crain’s] — Claire Moses 

 

Related Articles

arrow_forward_ios

Trump’s tax returns, Amazon gets into proptech: Daily digest

Amazon CEO Jeff Bezos (Credit: Getty Images, iStock)

The Daily Dirt: Amazon pushes further into brick-and-mortar space

Amazon CEO Jeff Bezos (Credit: Getty Images, iStock)

Amazon’s shopping cart now includes new grocery store leases in LA area

When Bill de Blasio announced the end of his campaign, the industry reacted largely with relief but not surprise (Credit: Getty Images and Pixabay)

De Blasio’s campaign is dead, and real estate is happy

Senator Brad Hoylman and Billionaires' Row (Credit: StreetEasy, NY Senate)

Pied-à-terre tax to make a return in Albany, lawmakers say

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

The top 100 largest landowners in US control 40M acres: report

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

arrow_forward_ios