Are You Ready For A Tax On Netflix?
Since streaming services first became available about a decade ago, they've been free of any type of tax.
That may be about to change.
According to WGME, Maine could be the latest state to start taxing services like Netflix, Amazon Prime, and Spotify.
The bill is from the Maine Department of Administration and Financial Services and would adjust the code that streaming services fall under. Basically, it would put them under the same code as phone and internet service.
It's all part of a Governor Mills initiative to offset income tax and nonprofit tax breaks.
If the law goes into effect, it would become the 23rd state to put a tax on streaming services.
While the tax would be less than $1 per streaming service (in most cases), it could be an incredible revenue generator for the state. Some say it could generate as much as $3.7 million in 2021 and as much as $6 million by 2023.
This is not the first time such as tax has been discussed. Governor LePage suggested a similar tax in 2017, but it did not pass.
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