President Bush Signs Internet Tax Freedom Act

As expected, President Bush has extended the moratorium on state and local government Internet access taxes by signing H.R. 3678, the "Internet Tax Freedom Act Amendment Acts of 2007," into law this week. Congress voted unanimously in favour of the extension Tuesday. Bush signed it into law Wednesday. It would have expired Thursday. Talk about a close call! The law prohibits multiple and discriminatory taxes on electronic commerce until November 1, 2014. Lawmakers first placed a moratorium on charging taxes for Internet access or applying multiple taxes to a single online transaction in 1998. Since then it has been extended to 2004, to 2007 and now to 2014.

News source: InformationWeek

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