Pennsylvania legislators are introducing a proposed 5% gross receipts tax on digital advertising, aiming to capture revenue from a rapidly growing industry projected to surpass a trillion dollars. Proponents argue this tax is essential for funding public services such as schools and libraries. They emphasize fairness by treating digital advertising similarly to other businesses that already pay such taxes. Notably, Maryland's implementation of a comparable tax has generated significant revenue. The bill also seeks to support local media outlets and bring state tax law in line with modern economic realities.
Pennsylvania legislators are proposing a 5% gross receipts tax on digital advertising to generate revenue for public services, mirroring existing taxes on other industries.
Legislators emphasize that the bill addresses fairness in the digital landscape, ensuring internet companies contribute to the economy like traditional businesses.
Maryland’s implementation of a similar tax has raised over $170 million, demonstrating a potential revenue avenue for Pennsylvania amidst calls for increased funding in public services.
By protecting local broadcasters and independent news outlets, legislators argue this tax promotes accountability and aligns law with the evolving digital economy.
Collection
[
|
...
]