State and local governments are trying to apply older tax laws to modern technologies such as streaming services. This one-size-fits-all ideology of the decades-old regulations leaves the law on shaky ground. Marilyn Wethekam discussed how shoehorning old tax laws to modern business services can be a setback at the Multistate Tax Commission's annual meeting in Boise, Idaho.
"Ordinances and statutes are out of date because technology changes, and business models change, and you have to keep up," said Wethekam. "The way to fix the problem...is by saying we need to amend the law". A few states and local governments have the ability to apply the old laws and expand on them, but as Wethekam noted, this is a luxury not many states are able to have.
Law360 Tax Authority details more of Marilyn's panel discussion in their article, Be Wary Of Modernizing Tax Codes Via Riles, Atty Says by Paul Williams.
Read the full article on Law360 Tax Authority here (subscription required).