Tax Proposal for Electronic Transactions

Taxing Electronic Transactions (Added: January 28, 2009)

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Tax Proposal for Electronic Transactions

You may soon get taxed for downloaded music, ring tones and movies.

By: Stephanie Moore | WNCT-On Your Side
Published: January 28, 2009

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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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