Shares of Amazon, Wayfair and Others Hit by the Supreme Court’s Ruling on Internet Sales Taxes

Shares of Amazon, Wayfair and Others Hit by the Supreme Court’s Ruling on Internet Sales Taxes - The New York Times

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The Supreme Court’s decision on Thursday to give states broader authority to collect taxes on e-commerce sales — even if the retailers have no presence in those jurisdictions — knocked the stock prices of many prominent online sellers.

Yet it had a relatively muted effect on the biggest one, Amazon.

Shortly after the 5-4 decision in the case, Quill Corporation v. North Dakota, was released, shares of online retailers fell. Here’s where they were trading on Thursday:

But Amazon suffered the least of all. E-commerce giant collects sales taxes for goods that it sells directly, but not for merchandise sold by third parties. Its shares were down less than a percentage point.

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