Maryland voted to adopt a new tax targeting online advertising on Friday as states nationwide take fresh aim at an industry that has posted billion-dollar profits during the pandemic
By Tony RommFeb. 12, 2021 at 2:40 p.m. EST
State lawmakers across the country are exploring a range of new taxes targeting Amazon, Facebook, Google and other Internet giants, seeking to capture some of Silicon Valley’s eye-popping profits and soaring share prices in the midst of the coronavirus pandemic.
Even as the U.S. economy struggles to regain its footing, some of the tech industry’s most valuable companies have thrived as Americans spend more time — and money — shopping and communicating on the Web. The disparity has caught the eye of policymakers across the United States who increasingly say it is time for the Internet’s cash-flush companies to start paying their fair share.