Amazon CEO Jeff Bezos. Photo: Ted S. Warren / AP

Amazon will cost the State of South Carolina $500 million in sales tax over the next five years, the state's tax authority said in a motion filed this week, CNBC reports.

Why it matters: This is yet another example of states getting serious in their effort to collect sales taxes on cross-state e-commerce transactions. The failure to do so is costing states more than $1 billion per year and contributing to persistent state and local budget constraints even as economic growth accelerates.

  • Though Amazon now collects sales tax on all goods it sells from its own inventory, it does not necessarily collect tax for third-party affiliate sales.
  • The failure of Amazon or these third parties to collect sales tax cost South Carolina $57 million last year, the state says. Amazon didn't immediately respond to a request for comment.

What the law says: As it stands, retailers aren't required to collect sales taxes on goods sold in states where they don't have a physical presence, though customers still technically owe (but rarely pay) these duties.

What's next: States are challenging this standard in jurisdictions around the country, with the most closely watched case being a South Dakota petition filed earlier this month to the Supreme Court, asking it to review whether it can constitutionally require retailers in other states to collect South Dakota sales tax.

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Two officers shot in Louisville amid Breonna Taylor protests

Police officers stand guard during a protest in Louisville, Kentucky. Photo: Ben Hendren/Anadolu Agency via Getty Images

Louisville Metro Police Department said two officers were shot downtown in the Kentucky city late Wednesday, just hours after a grand jury announced an indictment in the Breonna Taylor case.

Driving the news: Metrosafe, the city's emergency services, said it received reports of a shooting at South Brook St. and Broadway Ave., near the area where protests were taking place. A police spokesperson told a press briefing the injuries of both officers were not life-threatening. One officer was "alert and stable" and the other was undergoing surgery, he said.

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  1. Global: Total confirmed cases as of 9 p.m. ET: 31,778,331 — Total deaths: 974,436 — Total recoveries: 21,876,025Map.
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Biden: Breonna Taylor indictment "does not answer" call for justice

Former Vice President Joe Biden. Photo: Leigh Vogel/Getty Images

Former Vice President Joe Biden on Wednesday condemned the grand jury indictment of a Louisville police officer who entered Breonna Taylor's home in March in a botched drug raid that led to her death, saying in a statement the decision "does not answer" for equal justice.

The big picture: Biden called for reforms to address police use of force and no-knock warrants, while demanding a ban on chokeholds. He added that people "have a right to peacefully protest, but violence is never acceptable."

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