Well Governor Brown signed the “Amazon Bill” AB155 Friday, postphoning the required collection of California sales tax by Amazon and other online retailers until September 15, 2012. It also exempts these types of sales if they are less than $1,000,000. Here is an article showing a post from the Governor’s official website:http://www.abestweb.com/forums/california-affiliate-tax-536/ab155-signed-cas-affiliate-nexus-law-delayed-until-sep-2012-a-149141.htmlThis also means that 25,000 affiliates in California will be back to working with Amazon. Talk about job creation! Just remember to buy your DVDs before next September.
Brian’s Financial Musings
Well the Fed is buying long term treasuries and selling short term treasuries. What will happen? The goal I think is to keep interest rates low, both short and long term, probably to spur corporations to borrow and make money and hire people. Here is an article that talks about it:http://online.wsj.com/article/BT-CO-20110922-712602.htmlThe fed did promise to keep interest rates low for at least two years, and I guess this is how they plan to do it; this keeps long term rates low and the fed sets short term borrowing rates. After two years, what will happen? We will see.
Brian’s Tax Musings
Remember that if you are self employed and have a qualified retirement plan, you can still make a contribution for 2010 if your personal return is on extension. You have until October 17 to make a contribution, subject to the income limits based on the type of retirement plan you have. Email me with questions at bstonercpa@sbcglobal.net