Tax Proposal for Electronic Transactions
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Taxing Electronic Transactions
Taxing Electronic Transactions
You may soon get taxed for downloaded music, ring tones and movies.
That’s the recommendation by the Revenue Laws Study Committee.
They went before the legislature yesterday and said state and local sales tax should be applied to these relatively new electronic transactions.
By doing so, they say it could bring in almost $8 million for the state and about $4 million for local governments.
Current law generally doesn’t require the tax on these products because they’re not considered “tangible personal property” or a service.
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Reader Reactions
Although I knew it would only be a matter of time, “you have got to be kidding!“ We are taxed to death as it is! What’s next? Are they going to tax everyone who grows a vegetable garden? After all, they are losing the tax they would gain if vegetables were bought in a grocery store.
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