Amazon to collect taxes in Arkansas in March

Amazon said Friday that it will begin collecting sales taxes next month in Arkansas, which lawmakers say could generate as much as $100 million to help lift the state’s lagging revenue and potentially fund future income tax cuts. Arkansas will be the latest state where the e-commerce giant has relented after years of resisting effort to collect taxes in states where it doesn’t have a physical presence.

Arkansas bill aimed at forcing Amazon to collect sales taxes

Arkansas Gov. Asa Hutchinson, left, shakes hands with Senate President Jonathan Dismang on Wednesday, Feb. 1, 2017, after signing legislation outlining a $50 million tax cut for thousands of low-income residents. A Senate panel endorsed a separate proposal aimed at forcing Amazon to collect state sales taxes, and lawmakers are eyeing the potential revenue from the move to help pay for future income tax cuts.