In a recent article published in Accounting Today, Bennett Thrasher partner Peter Stathopoulos provides insight on Bloomberg BNA’s 2017 Survey of State Tax Departments, which highlights the difficulties states are having in applying existing tax laws to “sharing economy” services.
Stathopoulos explains that one reason for states’ hesitation in taxing sharing economy companies is the difficulty they had in imposing sales tax on remote sellers.“States may face similar issues with the sharing economy as they had in trying to impose Amazon laws,” he observed. Although the states’ positions taken on the survey are helpful in determining their stance on particular issues, they don’t have the force of law, he says. “It is important to remember that survey responses by state departments of revenue alone are only administrative positions that may not be enforceable prior to being formally promulgated in regulations.” For the full article, you may click here.
For the full article, you may click here.
For any questions on state or local taxes, please contact Peter Stathopoulos by calling 770.396.2200