Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (758)	12/12/1998 12:02:00 PM
From: StockDung	Read Replies (1) of 122088

Point I am trying to make on TCTV is the transactions are not electronic. They are buy phone order which should make the transactions taxable by states. ====================================================== in which they are trying to apply outdated rules to electronic transactions =========================================================== U.S. and states ready to battle over who gets to tax Internet By George Leopold, EE Times Washington -- Now the tax collector wants a piece of the Internet action. State governments and, increasingly, Uncle Sam are looking for ways to collect taxes from transactions over the Internet and other private networks. Their coming jurisdictional battles will shape the way public and private networks evolve. It's not a matter of when, but "how do we develop a reporting and payment system that doesn't kill these transactions?" asked Paul Mines, general counsel for the Washington-based Multistate Tax Commission. He was speaking last week at a conference staged by the Information Technology Association of America in Washington. "Electronic commerce is making geography and goods less important, and services and intangibles much more important." Still, grass-roots opposition to an Internet tax is growing; meanwhile, Washington and the states are proceeding on parallel tracks to tackle the politically charged taxation issue with the states having moved farthest toward taxing Net services. However, the Treasury Department has also begun looking at the issue from a global perspective and expects to release an "issues paper" as early as this summer. Elsewhere, the Federal Communications Commission has an Internet telephony petition on its docket. For now, Congress seems content to watch from the sidelines. Like their European counterparts--the European Commission has proposed a "bit tax"-- many cash-strapped states have for months been looking for ways to expand their tax base by targeting the Internet and on-line services. Some states have focused on jurisdictional questions that would allow them to impose taxes on transactions nominally occurring within their boundaries. Others, such as Florida, are trying to expand current definitions of telecommunications services in order to tax "enhanced" information services. Experts also warned that states are adopting a "shoehorn" approach to taxation, in which they are trying to apply outdated rules to electronic transactions. "We need cooperative development of rules that makes sense," Mines said.

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