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New York commission considers digital taxes
Nov 17, 2013 12:02 am
Jimmy Vilekind in Capital New York reports that a state commission is recommending that New York roll back many tax breaks, including several that benefit online businesses. The 157-page report claims the state misses out on $35 million in revenues by not charging sales tax online, and other exemptions such the clothing exemption on purchases less then $110. According to the report, 23 states are now taxing digital sales such as Netflix and iTunes. “Sales tax hasn't been updated for how people live,” said commission co-chair Peter Solomon, an investment banker and former deputy New York City mayor for finance and economic development. Luggage carts, dry cleaning, Broadway shows, and filming movies would now be taxed under the proposal, which would also expand credits for low-income people. Read the full story in Capital New York.