November 2007

Extension of Internet Tax Ban Becomes Law

On October 31, 2007, President Bush signed into law the Internet Tax Freedom Act Amendments Act of 2007, extending for seven years the moratorium on federal, state and local Internet access taxes, multiple taxes on electronic commerce, and discriminatory taxes such as bandwidth and email taxes.

The ban was originally enacted as part of the Internet Tax Freedom Act of 1998 to support and sustain the Internet’s continued commercial, educational and informational development. Renewed in 2001 and 2004, the prohibition was set to expire on November 1, 2007, but this most recent legislation extends the ban through November 1, 2014.

FOR MORE INFORMATION, PLEASE CONTACT:
Brooks Nelson, Partner
bnelson@cbh.com
1.800.849.8281
www.cbh.com

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As the Southeast’s accounting and consulting Firm of Choice, Cherry, Bekaert & Holland, L.L.P. (CB&H) is uniquely positioned to provide quality, cost-effective and value-added services to a diverse and successful client base. The Firm sets itself apart by delivering the extensive industry specialization and service opportunities of a national firm, but with the accessibility, service continuity and level of personal relationship expected from a local business. Ranked nationally among CPA firms, CB&H’s resource network stretches regionally across six states, including the large metro markets of Atlanta, Charlotte, Hampton Roads, Raleigh, Richmond, Tampa and Washington D.C., and nationally and internationally through an alliance with Baker Tilly International, a worldwide network of independent accounting firms.