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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 247.35

+0.4%

Jan 9 3:59 PM EST

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To: H James Morris who wrote (17864)	9/22/1998 6:37:00 PM
From: Glenn D. Rudolph	Read Replies (2) of 164684

Also, re the tax problem, remember congress has given them a 2 or 3 year moratorium before they would consider taxing the Internet. So that gives Bezos quite some breathing room, before he has to face that bullet. The Internet lobby worked hard on that one. James, I believe you interpreted this incorrectly. This was no additional taxes on the internet. It had nothing to do with state sales taxes or use taxes. It appears that the appeal won by Quill indicated a nexus was required for state sales tax. However, the amount of revenues being lost by the states will likely have them impliment a Use Tax. The Use Tax is not forbidden via the moratorium to the bes of my knowledge. Also, re the tax problem, remember congress has given them a 2 or 3 year moratorium before they would consider taxing the Internet. So that gives Bezos quite some breathing room, before he has to face that bullet. The Internet lobby worked hard on that one. This is true but all revenues are derived via charge card form. It has to cost them about 2% for fees to their clearing house. That is 24% per year not compounded. Glenn

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