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Digital Economy Continues to Grow Leaps and Bounds

Digital Economy Continues to Grow Leaps and Bounds

The digital economy continues to grow leaps and bounds, as does the need for certainty in the taxation of digital goods and services.  For example, Apple just announced that in just the two weeks ending January 3, consumers spent over $1.1 billion on apps and in-app purchases.  Apple alone has brought in almost $40 billion for app developers.  With the digital economy continuing to be a bigger and bigger part of all of our lives, now is the time to provide a structure for consumers and businesses to know the rules of the road when it comes to taxes. The Digital Goods and Services Tax Fairness Act would accomplish this goal. The legislation does not impose new taxes, and continues to leave the decision to tax to the states. The bill merely ensures that all parties have clear rules to follow to avoid confusion and to avoid duplicative taxation of consumers.

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