Where is the Web going?; Internet Tax Moratorium is staying; Tax Incentives for Economically Distressed Areas is alive and well
1. Animation/Music on the Web is coming from everywhere
If you want to see how fast the Web is taking over on the content side see Macromedia's ShockWave site and this NY Times article. Or to see what San Francisco thinks about all visit the SFGate website.
Does the San Francisco Gate know where the San Francisco Enterprise Community is, and do their readers care? How about Red Herring who is in the Enterprise Community? What about Bigstep.com which is a block away and has big-time VC investors? See below and they get excited.
What this all means is that the entertainment home-based business market, including kids of all ages, is going to explode, and the tax implications of all this activity is going to change lifestyles.
2. The Internet Tax Moratorium is going to stay on
The Internet Tax Moratorium Committee is hotly divided but 11 members of the 19 favor no tax on internet sales. Earlier the White House jumped in to give their view on the issue and they favor the Moratorium. If you want to see the problem, check out this ZDNet Internet Week article on when the Peanut is subject to sales tax.
3. The Joint Committee on Taxation Speaks on Tax Incentives
In preparation for today's Subcomittee on Oversight of the House Committee on Ways and Means hearing on Tax Incentives for Economically Distressed Areas the Joint Committee on Taxation has issued Report JCX-29-00, and it is a must read for all that are interested in this area, including the discussion on IRC Section 1044. ZERO CAPITAL GAINS IS COMING TO RENEWAL ZONES, how many only the Shadow knows and he is not talking. Keep an eye on this hot topic at the House's own website.
Jim Schneider, LL.M.
The Taxman86 Speaks... is copyright 1998-2010 by James E. Schneider, LL.M. Inc.