Walmart Applauds Passage of E-Fairness Legislation
Law allows all Texas retailers to compete on a level playing field
AUSTIN, Texas, July 20, 2011 /PRNewswire/ -- Walmart applauds passage of legislation that will level the playing field for all Texas businesses and hold online retailers with a physical presence in the state accountable to collect sales tax on purchases made by Texas consumers. Language from House Bill 2403, sponsored by Rep. John Otto (R-Dayton), became law on July 19 as part of a larger fiscal matters bill (SB 1) that was signed by Governor Rick Perry.
The e-fairness language passed the Texas House of Representatives and Texas State Senate with overwhelming majorities and clarifies what constitutes a physical presence. It does not create a new tax. The language allows Texas to remain a fair and competitive state to do business, helps Texas collect revenue due the state, and ensures Texas consumers will no longer be at risk of penalty for failure to pay use taxes for certain online purchases.
"We are pleased the Texas Legislature stood up for Texas businesses and took action to make online only retailers play by the same rules as every other business in the state," said David Norman, senior vice president, Texas Division, Walmart U.S. "The new law is a big win for local businesses and maintains the state's free market principles by preventing the government from picking winners and losers in commerce."
On behalf of the state of Texas, Walmart collected more than $1.4 billion in sales taxes during the fiscal year ending Jan. 31, 2011. Walmart paid more than $299.7 million in state and local taxes during that same period. Walmart currently employs more than 150,000 Texans at more than 460 stores, clubs and distribution centers in the state. Through more than 4,000 Texas suppliers, Walmart supports approximately 181,000 supplier jobs throughout the state. Additionally, Walmart and the Walmart Foundation gave over $50 million in cash and in-kind donations in 2010.
About Wal-Mart Stores, Inc.
Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at over 9,000 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs more than two million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://www.walmartstores.com and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.
SOURCE Wal-Mart Stores, Inc.
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