Amazon hit with $269 Million Texas tax assessment over sales

By Wallace Witkowski
10/22/10

SAN FRANCISCO (MarketWatch) -- Amazon.com Inc. said Friday the state of Texas alleges the online retailer owes $269 million in uncollected sales taxes, according to a Securities and Exchange Commission filing Friday. The assessment covers sales that occured between Dec. 2005 and Dec. 2009. "We believe that the State of Texas did not provide a sufficient basis for its assessment and that the assessment is without merit," Amazon said in the filing. "We intend to vigorously defend ourselves in this matter."