Political Quotes

“I rise to introduce the Business Activity Tax Simplification Act of 2009, a measure with far-reaching consequences for businesses throughout our nation. Traditionally, states and localities have levied corporate income, franchise and other taxes only on those businesses that have a physical presence in the taxing jurisdiction. The growth of the Internet and interstate business transactions has made it possible for businesses to conduct transactions without the constraints of geopolitical boundaries. As a result, recently some states have attempted to expand their tax base by assessing business activity taxes against out-of-state companies that have customers but no property or employees in the taxing state. Both large and small companies are facing an increasingly unpredictable tax environment for businesses, which hinders business expansion and threatens the continued development of e-commerce. The legislation we are introducing today...will bring certainty to today's increasingly chaotic tax environment for businesses by clarifying that the states cannot attempt to tax the income of a company that has no physical presence within the taxing state's borders.”