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NJ: Uber Owes $650M In Taxes After Misclassifying Drivers

PYMNTS

New Jersey’s Department of Labor and Workforce Development claims that Uber owes the state around $650 million in unemployment and disability insurance taxes because it has been wrongly classifying its drivers as independent contractors.

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Is Sales Tax An Anchor On Amazon?

PYMNTS

One of the more long-grumbled complaints in retail is that Amazon and other eCommerce players are able to exploit a loophole that allowed them to mostly avoid charging sales tax. Would collecting sales tax 100 percent of the time take a bit out of Amazon’s bottom line? Recent data suggests — probably not.

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Uber Adds Pre-Tax Commuter Benefits Option

PYMNTS

They do have to be using uberPOOL, and it’s only available in select cities and New Jersey for now. This week’s announcement is an expansion of the program, which is now available in New York City, Boston, Chicago, Washington, D.C., However there are still some parameters that riders need to take into account.

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NJ’s Internet Gambling Revenues Soar To $80M In April

PYMNTS

With total gaming revenues way down, what can gambling venues and the state of New Jersey, which collects taxes from them, do to boost business? Meanwhile, online poker revenues more than tripled year on year, reaching $5.15 One strategy would be to speed up the disbursements of winnings.

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JD Sports Purchases California-Based Shoe Palace

PYMNTS

Shoe Palace provided a $52 million pre-tax profit in the year ending Dec. In separate recent acquisition news, Murphy USA , the Arkansas fuel chain, has agreed to a $645 million all-cash deal to buy New Jersey convenience store company QuickChek. 31, 2019, according to the announcement.

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FinCEN Hits Capital One For $390 Million; Says Bank Violated Bank Secrecy Act

PYMNTS

These violations, said FinCEN, “caused millions of dollars in suspicious transactions to go unreported in a timely and accurate manner, including proceeds connected to organized crime, tax evasion, fraud, and other financial crimes laundered through the bank into the U.S. financial system.”.

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Popular Bank Issues Small Business Recovery Grants

PopularBank

Grant Program Provides Relief to Non-profit Organizations and Small Businesses in New York and New Jersey Significantly Impacted by COVID-19. SBRG serves to provide relief to organizations in New York and New Jersey that have been significantly impacted by COVID-19. New Jersey. Aspira Inc.,