Tax Bite Imperils Amazon

Wall Street may be on board, but it's Washington, D.C., that could hold pitfalls for Amazon.com(AMZN Quote).

Shares of the Web retailer have soared 60% to $71.17 since it announced a blowout quarter in April. But investors piling into the stock should be aware that the company -- and its stock -- could be facing new legislative headwinds.

A new piece of legislation seeks to have online retailers collect state sales taxes from certain customers. The companies have avoided paying these taxes until now, allowing them to pass along the discounts to their customers. ...