Simon Property Group Pleased with the Agreement that State of Indiana has Reached with Amazon.com

Published on Monday, 09 January 2012 15:01 Written by TradersHuddle Staff

- Assists in Leveling Playing Field with Bricks-and-Mortar Retailers -

INDIANAPOLIS, Jan. 9, 2012 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG), the country's largest owner, developer and manager of high quality retail real estate, is pleased with the State of Indiana's announcement today that it reached an agreement with Amazon.com concerning the collection of sales taxes on sales made by Amazon.com within the State of Indiana. SPG supports a federal solution to the internet sales tax collection issue and is hopeful that Congress will quickly act to level the playing field for Main Street retailers in all states by passing federal legislation that authorizes states to require online retailers to collect sales tax on remote sales at the time of the sale. SPG supports the passage of the Marketplace Fairness Act (S. 1832) and the Marketplace Equity Act (H.R. 3179).

David Simon, Chairman of the Board and Chief Executive Officer stated that, "As an Indiana headquartered company that employs thousands of Hoosiers, Simon Property Group is pleased that the State of Indiana took this action which benefits Main Street retailers and hundreds of thousands of retail employees in our state that deserve to be on a level playing field with online retailers."

As a result of the announcement made by the State of Indiana, SPG will dismiss the complaint that it filed in November 2011 against the State of Indiana in Marion County (Indianapolis) Superior Court.

Simon Property Group

Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S.  The Company currently owns or has an interest in 383 retail real estate properties comprising 256 million square feet of gross leasable area in North America, Europe and Asia.  Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide.  The Company's common stock is publicly traded on the NYSE under the symbol SPG.  For further information, visit the Simon Property Group website at www.simon.com.

SOURCE Simon Property Group, Inc.