A new report out today shows closing the Amazon.com tax loophole would mean up to $1 billion in new state revenue, while helping to level the playing field for California’s small businesses.

New Report Shows Cost of Loopholes

The report from the California Budget Project adds momentum to the growing movement to close the tax loophole that allows big online retailers to escape paying state sales tax. These loopholes are also costing the City of San Francisco millions in lost sales tax revenue and damaging local businesses, because they must compete against the big online retailers that charge no sales taxes. At Reset, we’re all about smarter tax policies that close major corporate loopholes – so our city gets the revenue it needs without having to add additional burdens on working families. So we’ll keep following this story closely.

The full report his here. And the overall story is well reported here. Take a look and let us know what you think.