A Deal in the Amazon Tax War?

There’s a new deal on the table in Amazon.com’s tax war. The online retailer has been battling with various states over whether it should collect sales tax, and in some cases, pay states millions for uncollected sales tax.

Now Amazon has reportedly offered a deal to Texas to create more than 5,000 jobs and invest $300 million in the state in exchange for a four and half year exemption from paying taxes.

So what does this “lets make a deal” mentality mean for consumers and other retailers?

“This is a whole new area — trying to trade jobs for taxes,” David Stresser, Managing Director in Equity Research at Janney Montgomery Scott said. “It opens up a can of worms.”

If the state is willing to forgo taxes for jobs, then there’s no reason why Best Buy or Wal-mart can’t do the same.

“Wal-mart has a million and half jobs. They have a lot of leverage then in talking about jobs out there,” he said. “It could get ugly and it could change things pretty dramatically.”

The consumer, however, isn’t off the hook for paying taxes. Stresser pointed out that if Amazon doesn’t collect a sales tax, the customer is supposed to pay the tax themselves. In fact, he said, some states’ tax returns now ask how much you have spent online.

______________________________________________________
Got something to to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to [e-mail].

Trader disclosure: On June 22, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour owns (AAPL); Tim Seymour owns (BAC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (FCX); Terranova Owns (CVI); Terranova Owns (F); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (JWN); Terranova Owns (TM); Terranova Owns (LULU); Terranova Owns (WFM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (XOM); Terranova Is Short (DELL); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman owns (BAC); Finerman’s Firm Owns (JPM) Leap and stock, Finerman owns (JPM); Finerman's Firm Owns (HPQ), (HPQ) Puts; Finerman's Firm Owns (IBM); Finerman’s Firm Owns (NM); Nations Owns (SPY); Nations Is Long Volatility In S&P; Stutland is long US treasuries; Stutland is owns (TLT) and short (TLT) calls; Stutland owns (OIH) and short (OIH) calls; Stutland Owns (BAC); Stutland Owns (GS) Bonds; Stutland Owns (GM); Stutland Owns (GOOG) Bull Option Spread; Stutland Owns (MSFT) Bonds; Stutland Owns (GLD); Stutland Owns Silver Bear Option Spread; Stutland Owns (WMT), Is Short (WMT) Calls; Stutland's Firm Is A Market Maker In (WMT) Futures And Options Holding Positions; Stutland's Firm Is A Market Maker Holding Positions In VIX Futures And Options And VXX Stock And Options And S&P 500 futures and options

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd.
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & URL PLC

For Brian Kelly
Accounts Managed By Brian Kelly Capital Are Long the Euro
Accounts Managed By Brian Kelly Capital Own (GLD)
Accounts Managed By Brian Kelly Capital Own (SLV)
Accounts Managed By Brian Kelly Capital Own (VIX) calls
Accounts Managed By Brian Kelly Capital Own (VLO)
Accounts Managed By Brian Kelly Capital Own (WFC)
Accounts Managed By Brian Kelly Capital Own (FCX)
Accounts Managed By Brian Kelly Capital Own (ATW)
Accounts Managed By Brian Kelly Capital Own (JPM)
Accounts Managed By Brian Kelly Capital Are Short the U.S. Dollar

For Gary Shilling
*** No Disclosures

For Dan Greenhaus
*** No Disclosures

For Anthony Scaramucci
SkyBridge Capital Is A Fund Of Funds Manager
Funds Held May Or May Not Own The Recommended Securities
Scaramucci Is One Of 8 National Finance Chairs For Mitt Romney Campaign

For Jesse Eisinger
*** No Disclosures

For David Strasser
Janney Montgomery Scott is a market maker in the securities of WMT
Janney Montgomery Scott is a market maker in the securities of BBY

CNBC.com with wires.