Bill > S05551

This bill establishes a tax on the annual gross revenue derived from digital advertising services in the state of New York. The tax is set at 7% for individuals or entities with annual gross revenues from digital advertising exceeding $100 million. The bill defines key terms like "digital advertising services," "digital interface," and "assessable base," and outlines reporting and payment requirements for affected entities. The bill aims to capture value from digital transactions that have traditionally avoided taxation, using digital advertising revenue as a proxy for the consumption value provided by digital platforms. The bill also establishes penalties for any willful violations of the new tax provisions.