Mike Semes Quoted Regarding State Taxes and Digital Economy

News / June 29, 2021

Of Counsel Mike Semes was quoted in an article published June 29, 2021, by Tax Notes. Titled “State Taxes and the Digital Economy: NFTs and the MTC Project,” the article focused on an ABA Tax Section panel discussion in which participants discussed how companies pursuing an Internet Tax Freedom Act (ITFA) challenge might counter a state’s argument that it is imposing a tax on a digital product or service for which there is no tangible equivalent. Semes said the ITFA’s legislative history indicates that federal lawmakers “considered a tax discriminatory when a state or local jurisdiction imposes it on a form of electronic commerce for which no similar non-digital product or service exists."

Read the article (registration required).