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Amazon.com in talks to open N.J. warehouses, seeks sales tax holiday
Trenton, N.J. -- Amazon.com is contemplating opening two warehouses in New Jersey and is seeking a 22-month sales-tax holiday as part of the deal, according to reports by the Associated Press and the Philadelphia Inquirer.
Amazon is not required, as brick-and-mortar retailers are, to collect the 7% state sales tax for purchases. If it acquires a physical presence in New Jersey by opening warehouses, it would have to collect taxes.
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Whole Foods profit rises 33%; 69 new stores in development
Austin, Texas -- Whole Foods Market Inc. reported Wednesday that profit for the first quarter rose a better-than-expected 33% to $118.3 million amid increased customer visits and higher prices on select items. On a follow-up conference call with analysts, the chain revealed it has 69 new stores in development, or 2.4 million square feet, in development.