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California Governor Vetoes Web Tax Bill SACRAMENTO, Calif., Oct. 4, 2000 (SmartPros) Not wanting to repress e-commerce, a California Governor has knocked down an Internet tax bill that would have required retailers with stores in the state to collect taxes for online sales, according to wire service reports. Gov. Gray Davis reportedly vetoed the bill because he did not want to curb e-commerce, according to a report by Reuters. However, he reportedly signed two other measures: one to create a commission to examine sales tax issues in the New Economy, and another requesting a three-year suspension on Internet access taxes. Davis reportedly said, "Imposing sales taxes on Internet transactions at this point in its young life would send the wrong signal about California's international role as the incubator of the dot-com community." Supporters of the bill believe it clarified state law regarding the taxation of Internet purchases, and would have garnered an estimated $14 million a year, according to a Newsbytes report. On the other hand, critics said the bill would have hindered out-of-state businesses and scarred the state's Internet-friendly reputation, said Newsbytes. -- SmartPros News Staff Send comments to information@smartpros.com 2000, Smartpros Ltd. All Rights Reserved. |
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