Starting the new year off with legislation aimed directly at the pockets of corporate taxpayers, New York has issued a legislative proposal to nearly cut in half corporate taxpayersâ available GILTI exemptions, and at the same time almost double the top corporate franchise tax rate. Senate Bill 953 (âSB953â), pre-filed in the state senate on January 8, 2025, has the potential to significantly increase New York franchise tax exposure for corporations doing business in the…
Data processing gets top billing in Texas regarding internet taxation, but it is not the only relevant taxable service in this context. If data processing is Batman, information services has long been its Robin. The two are often thought of together because of their similarities. Both taxable services are defined broadly and potentially catch a wide range of services in their nets. Both were also enacted simultaneously in the same legislation. In fact, while the…
Connecticut legislative leaders recently announced support for a digital advertising tax (âConnecticut Digital Advertising Taxâ) proposed by the Connecticut Joint Committee on Finance, Revenue and Bonding (the âFinance Committeeâ). Connecticut joins Maryland, Massachusetts, New York, and Texas, among others, as states with concrete digital advertising tax proposals on the table (and in Marylandâs case, an enacted law).
State legislators in the Massachusetts House of Representatives recently introduced four bills on the taxation of digital advertising services. Two of these bills propose a tax on digital advertising services, a third bill would set up a âspecial commissionâ to study how to generate revenue from digital advertising, and a fourth bill appears to be a placeholder for some action on digital advertising taxation. This makes Massachusetts one of the latest states to join the wave of state digital advertising tax proposals targeting large digital advertising service providers. We have previously covered Marylandâs digital advertising tax, the first in the nation to become law, and various other statesâ pending digital and data tax proposals, including New York and Texas. Below, we summarize and compare the various Massachusetts proposals.