Remember the days when state taxes were not paid when you ordered that favorite item online? It seems like times are changing. How soon before all states tax the internet? What do you think about this?
Internet Tax Bill Passed in Illinois
/PRNewswire/ -- The Internet Tax Bill (HB 3659) was passed in the Illinois Senate on January 5, by the House of Representatives on January 6 and brought to the Governor, who may sign it into a law as early as Friday, January 7.
The tax legislation relates to out-of-state merchants like Amazon.com and Overstock.com that do not have a physical presence in Illinois but have relationships with Illinois advertisers and publishers like CouponCabin.com. By this law, these merchants are deemed to have a presence (nexus) in Illinois and are therefore required to collect Illinois sales tax.
The goal of this is to increase tax revenue for the state, but what has happened in the four states that have passed similar laws (New York, Colorado, North Carolina and Rhode Island) is that instead of collecting sales tax, these merchants have severed their relationships with publishers in that state. Twelve other states have rejected similar legislation.
Statement from Scott Kluth, Founder and President of CouponCabin.com:
"Needless to say, we are disappointed by the passing of the legislation today. It was disheartening that both Houses passed this bill in 30 hours without a full and fair opportunity for the voice of Illinois small businesses to be heard. CouponCabin has been rapidly growing for the past several years; in fact, in November, we were only 12% behind Groupon's monthly traffic. For the third straight year, our staff has doubled in size and has already grown by 12% in the first week of 2011. Unfortunately, this bill will do significant harm to our growth by cutting our business by nearly one-third. Chicago has been an amazing home for CouponCabin for more than seven years. We are grounded in the community with our business and our charitable work and have no plans to leave. We hope the State will see that this bill will fail to achieve its revenue-raising goal, and instead cause drastic hardship for small businesses like ours. We know from other states' experience that the tax revenue does not materialize. Should this bill become a law, Internet affiliate jobs will be lost with no increase in state revenue. The other states that have passed this are moving to repeal it for this exact reason. We hope consideration will be given to the impact on small businesses before this bill becomes a law."
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Showing posts with label revenue. Show all posts
Showing posts with label revenue. Show all posts
Friday, January 7, 2011
Thursday, April 15, 2010
Opinion: Governor Perdue Should Veto HB 1055 and Demand Lawmakers Pass A Clean Version
In order for Governor Perdue to maintain his record of fiscal responsibility, he should veto House Bill 1055. The legislature combined permanent tax cuts with much-needed revenue increases in HB 1055, turning the governor's fiscally responsible proposal into a last minute tax giveaway.
The final version, which passed April 14, adds to the alarming and long-term structural deficit in Georgia. In addition, this bill along with HB 1023 - which has permanent tax cuts of $380 million - could have serious negative implications for Georgia's AAA bond rating.
There is another option- an option that would allow the governor to achieve his original proposals of a temporary hospital fee and updates to user fees. House Bill 307, which contains the temporary hospital provider fee, is still viable. The governor still has an opportunity for the clean bill he desires, if lawmakers revise HB 307 to contain both revenue measures.
Lawmakers of both parties should vote for an amended version of HB 307 that contains two things - the temporary hospital provider fee and updates to user fees. However, lawmakers are not likely to pursue this sensible alternative unless the governor immediately vetoes HB 1055.
Alan Essig
Georgia Budget & Policy Institute
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The final version, which passed April 14, adds to the alarming and long-term structural deficit in Georgia. In addition, this bill along with HB 1023 - which has permanent tax cuts of $380 million - could have serious negative implications for Georgia's AAA bond rating.
There is another option- an option that would allow the governor to achieve his original proposals of a temporary hospital fee and updates to user fees. House Bill 307, which contains the temporary hospital provider fee, is still viable. The governor still has an opportunity for the clean bill he desires, if lawmakers revise HB 307 to contain both revenue measures.
Lawmakers of both parties should vote for an amended version of HB 307 that contains two things - the temporary hospital provider fee and updates to user fees. However, lawmakers are not likely to pursue this sensible alternative unless the governor immediately vetoes HB 1055.
Alan Essig
Georgia Budget & Policy Institute
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Wednesday, December 23, 2009
New Concord Coalition Paper Discusses 'End Game' Fiscal Considerations for Health Care Reform
/PRNewswire/ -- With the House having passed its version of health care reform (H.R. 3962) and the Senate on the verge of passing its version (H.R. 3590), the outline of a final bill is beginning to take shape. In its new Issue Brief, The Concord Coalition looks ahead at the fiscal considerations that will likely be the subject of conference committee discussions and "end game" negotiations. These include the cost of expanding coverage, the methods used to prevent that cost from adding to the deficit, and the prospects for systemic reforms to reduce cost growth over time.
This issue brief gives The Concord Coalition's perspective on how the bills measure up, what the risks are and how these risks could be lessened. We conclude that:
-- Both bills establish an important benchmark by achieving deficit
reduction according to official cost estimates by the Congressional
Budget Office (CBO). However, the fiscal outlook remains on an
unsustainable track even with the modest deficit reduction achieved
under either plan.
-- There are clear risks that some of the methods used to achieve deficit
reduction in the official scores may not hold up over the long-term.
-- The revenue package in the Senate bill holds more promise to reduce
the deficit than the House version because its largest component --
the high-cost insurance excise tax -- will better keep up with the
growth rate of health care spending, and will also work to lower
health care costs.
-- Both bills contain many promising reform strategies to achieve
long-term cost control. However, these strategies remain unproven and
cannot be counted on to produce timely, reliable savings without a
strong cost control mechanism such as the Senate's proposed
Independent Payment Advisory Board (IPAB).
The "Fiscal Risks" mentioned in the discussion include:
-- Doing Nothing
-- Spending offsets that are not maintained over time
-- "Curve benders" that don't pan out or are not adopted more broadly
-- Failure to include an effective cost control mechanism
-- Lagging revenue increases
-- General revenue bailout of the CLASS provision
-- Inadequate premium subsidies, weak penalties, and a poorly designed
exchange
In the conclusion, Concord discuss the possible changes that could be added to the legislation to lessen these risks and further promote fiscal responsibility.
To read the full issue brief, go to: http://www.concordcoalition.org/issue-briefs/2009/1223/health-care-reform-end- game-fiscal-considerations
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This issue brief gives The Concord Coalition's perspective on how the bills measure up, what the risks are and how these risks could be lessened. We conclude that:
-- Both bills establish an important benchmark by achieving deficit
reduction according to official cost estimates by the Congressional
Budget Office (CBO). However, the fiscal outlook remains on an
unsustainable track even with the modest deficit reduction achieved
under either plan.
-- There are clear risks that some of the methods used to achieve deficit
reduction in the official scores may not hold up over the long-term.
-- The revenue package in the Senate bill holds more promise to reduce
the deficit than the House version because its largest component --
the high-cost insurance excise tax -- will better keep up with the
growth rate of health care spending, and will also work to lower
health care costs.
-- Both bills contain many promising reform strategies to achieve
long-term cost control. However, these strategies remain unproven and
cannot be counted on to produce timely, reliable savings without a
strong cost control mechanism such as the Senate's proposed
Independent Payment Advisory Board (IPAB).
The "Fiscal Risks" mentioned in the discussion include:
-- Doing Nothing
-- Spending offsets that are not maintained over time
-- "Curve benders" that don't pan out or are not adopted more broadly
-- Failure to include an effective cost control mechanism
-- Lagging revenue increases
-- General revenue bailout of the CLASS provision
-- Inadequate premium subsidies, weak penalties, and a poorly designed
exchange
In the conclusion, Concord discuss the possible changes that could be added to the legislation to lessen these risks and further promote fiscal responsibility.
To read the full issue brief, go to: http://www.concordcoalition.org/issue-briefs/2009/1223/health-care-reform-end- game-fiscal-considerations
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Monday, September 21, 2009
Senator Proposes Use of Internet Gambling Revenue to Help Fund Health Care Reform
/PRNewswire/ -- An increased focus on the benefits of Internet gambling regulation are expected as the Senate Finance Committee considers a proposal introduced on Saturday to use Internet gambling revenue to offset the costs of health care reform. The amendment offered by Senator Ron Wyden (D-OR) would dedicate Internet gambling tax revenue generated through implementation of the currently pending Internet Regulation, Consumer Protection and Enforcement Act (H.R. 2267) to increase low-income subsidies provided through the America's Healthy Future Act of 2009. A PricewaterhouseCoopers analysis shows that collecting taxes on regulated Internet gambling would allow the U.S. to capture up to $62.7 billion over the next decade.
"We applaud Senator Wyden's proposal to collect and put to good use tens of billions in Internet gambling revenue that would otherwise be lost in the underground marketplace," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. "The Senate Finance Committee should approve the resolution, finally putting to an end a failed prohibition on Internet gambling that leaves Americans unprotected and unlicensed offshore operators as the only beneficiary in a thriving marketplace."
The Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267), introduced in May by House Committee on Financial Services Chairman Barney Frank (D-MA), would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. The legislation mandates a number of significant consumer protections including safeguards against compulsive and underage gambling, money laundering, fraud and identify theft. Additional provisions in the legislation reinforce the rights of each state to determine whether to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary.
A companion to Chairman Frank's legislation introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act (H.R. 2268), would raise revenue for the U.S. Treasury primarily through ensuring that applicable individual taxes, corporate taxes and license fees on regulated Internet gambling activities are collected. Without this legislation, this revenue will remain uncollected while millions of Americans gamble online without consumer protections.
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"We applaud Senator Wyden's proposal to collect and put to good use tens of billions in Internet gambling revenue that would otherwise be lost in the underground marketplace," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. "The Senate Finance Committee should approve the resolution, finally putting to an end a failed prohibition on Internet gambling that leaves Americans unprotected and unlicensed offshore operators as the only beneficiary in a thriving marketplace."
The Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267), introduced in May by House Committee on Financial Services Chairman Barney Frank (D-MA), would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. The legislation mandates a number of significant consumer protections including safeguards against compulsive and underage gambling, money laundering, fraud and identify theft. Additional provisions in the legislation reinforce the rights of each state to determine whether to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary.
A companion to Chairman Frank's legislation introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act (H.R. 2268), would raise revenue for the U.S. Treasury primarily through ensuring that applicable individual taxes, corporate taxes and license fees on regulated Internet gambling activities are collected. Without this legislation, this revenue will remain uncollected while millions of Americans gamble online without consumer protections.
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Monday, September 14, 2009
Congress Encouraged to Collect Billions in New Revenue with Internet Gambling Regulation in New Advertising Campaign
/PRNewswire/ -- The Safe and Secure Internet Gambling Initiative launched a new online advertising campaign today in support of the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267), legislation that would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. The ads advocate regulating Internet gambling to protect the millions of Americans who continue to gamble online despite government attempts to prohibit the activity and to collect up to $62.7 billion in new revenues for the federal government in the first decade.
"As Congress searches for ways to pay for health care reform and other worthy programs, it should end the unsuccessful prohibition of Internet gambling and start collecting taxes on the billions in revenue currently lost to unlicensed, offshore gambling operators," said Jeffrey Sandman, spokesperson for the Safe and Secure Internet Gambling Initiative.
House Committee of Financial Services Chairman Barney Frank (D-MA) has announced his intent to hold a hearing and markup on the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 this fall. Since introduction of the legislation by Chairman Frank in May, a bipartisan group of more than 50 co-sponsors have signed onto the bill. Supporters include many senior ranking representatives such as George Miller (D-CA), chairman of the Committee on Education and Labor, John Conyers (D-MI), chairman of the Committee on the Judiciary, Charles Rangel (D-NY), chairman of the Committee on Ways and Means, Edolphus Towns (D-NY), chairman of the Committee on Oversight and Government Reform, Pete King (R-NY), ranking member of the Homeland Security Committee and Ron Paul (R-TX), vice-chairman of the Oversight and Investigations subcommittee.
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"As Congress searches for ways to pay for health care reform and other worthy programs, it should end the unsuccessful prohibition of Internet gambling and start collecting taxes on the billions in revenue currently lost to unlicensed, offshore gambling operators," said Jeffrey Sandman, spokesperson for the Safe and Secure Internet Gambling Initiative.
House Committee of Financial Services Chairman Barney Frank (D-MA) has announced his intent to hold a hearing and markup on the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 this fall. Since introduction of the legislation by Chairman Frank in May, a bipartisan group of more than 50 co-sponsors have signed onto the bill. Supporters include many senior ranking representatives such as George Miller (D-CA), chairman of the Committee on Education and Labor, John Conyers (D-MI), chairman of the Committee on the Judiciary, Charles Rangel (D-NY), chairman of the Committee on Ways and Means, Edolphus Towns (D-NY), chairman of the Committee on Oversight and Government Reform, Pete King (R-NY), ranking member of the Homeland Security Committee and Ron Paul (R-TX), vice-chairman of the Oversight and Investigations subcommittee.
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