While Amazon has made online shopping simple for consumers, it’s creating a nearly $68 million headache for local and statewide municipalities in Missouri.
The online retail giant is putting a dent in local and state taxes, and the biggest loser is Missouri, according to the “Empty Storefronts” study by The American Booksellers Association and Civic Economics.
In 2014, Amazon sold $44.1 billion worth of products and avoided $625 million in state and local taxes nationwide. Nationally, the sales are equivalent to 3,215 storefronts that would have paid $420 million in property taxes. State and local governments across the country missed out on more than $1 billion in revenue, according to the report.
Read more: St. Louis Business Journal