2015 Budget and Internet Tax Freedom? Check.
- Dec 17, 2014 | Gail Cole
President Obama signed into law H.R. 83 on Tuesday, December 16, 2014. The Consolidated and Further Continuing Appropriations Act of 2015 funds all governmental agencies through September 30, 2015, with the exception of the Department of Homeland Security, which is funded through February 27, 2015.
Included in the legislation is an extension of the Internet Tax Freedom Act (ITFA). Previously set to expire on December 13, 2014, it is now set to expire on September 30, 2015. Many lawmakers would like to see the temporary moratorium on internet taxation made permanent. Others would like to link the ITFA with the Marketplace Fairness Act or similar legislation that would enable states to tax remote (read internet) sales. For now, however, the temporary extension of the moratorium will have to suffice.
Is your business prepared for online sales tax, should it become more pervasive? Automated sales tax software as a service simplifies transaction tax management for multiple state filers. Learn more.