DALLAS, Dec. 19, 2014 /PRNewswire/ -- As part of the
$1.1 trillion omnibus spending bill
signed into law by President Obama on Tuesday, December 16, 2014, the Internet Tax
Freedom Act (ITFA) was extended for another year. Due to expire
earlier this month (December 11,
2014, and before that, November 1,
2014), ITFA bars state and local governments from imposing
state and local taxes on Internet access and multiple or
discriminatory taxes on electronic commerce. Although there had
been a push to combine a version of the Marketplace Fairness Act
(MFA) with the ITFA, MFA legislation was ultimately not included in
the omnibus spending bill signed by the President.
The moratorium under ITFA began on October 1, 1998, but does not apply to state
taxes on Internet access imposed prior to this date, as long as a
state did not repeal its tax on Internet access more than 24 months
before the enactment of P.L. 110-108. The driving legislative
forces behind the measure, Senator Ron
Wyden (D-Oregon) and
Senator John Thune (R-South Dakota), say they intend to push for a
permanent enactment of ITFA in 2015.
About Ryan
Ryan is an award-winning global tax
services firm, with the largest indirect and property tax practices
in North America and the sixth
largest corporate tax practice in the
United States. Headquartered in Dallas, Texas, the Firm provides a
comprehensive range of state, local, federal, and international tax
advisory and consulting services on a multi-jurisdictional basis,
including audit defense, tax recovery, credits and incentives, tax
process improvement and automation, tax appeals, tax compliance,
and strategic planning. Ryan is a three-time recipient of the
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Ryan's multi-disciplinary team of more than 1,900 professionals and
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More information about Ryan can be found at www.ryan.com.
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TECHNICAL INFORMATION CONTACT:
Jeremiah T. Lynch
Principal
Ryan
212.847.0113
jeremiah.lynch@ryan.com
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