Funds Approved to Investigate Industry Double Taxation Resolution
PRISM International has been made aware of duplicate sales tax collection requirements imposed on New Jersey-based members doing business with New York customers. This sets a dangerous precedent for all members and requires swift advocacy. As such, the i-SIGMA Board of Directors has approved funding to investigate the best options for confronting the issue.
According to i-SIGMA Co-President, Angie Singer Keating, the issue exemplifies the value of a strong trade organization.
“Wrestling with the issue of New York and New Jersey sales tax is not realistic for most members,” said Keating. “It requires an industry response. And, because this double taxation threat exists in other states, success in dealing with it here and now potentially means hundreds of other members can avoid it elsewhere.”
As it stands, a New Jersey-based lobbying firm is developing a strategy for engaging the complicated maze of regulatory agencies and stakeholders in both states.
PRISM International will keep members aprised of the resolution to this situation.
April 4, 2019