Florence may be losing tax dollars due to the closing of several retail outlets, but it’s gaining them from another source. Amazon is now collecting 8% tax on purchases from Alabamians, then dividing the revenue among the state’s cities.
The City of Florence received $24,000.00 this past month. Assuming the amount remains static, tax coffers should be enriched by $288,000.00 in a year’s time. If more online sellers follow suit, it will go a long way to making up for the revenue reduction caused by the absence of Best Buy, Jos. A. Banks, and others deserting the Renaissance City.