Maryland Passes First Big Tech Tax

Maryland just passed the nation’s first tax on the revenue from digital advertisements sold by big technology companies like Facebook, Google and Amazon. The Maryland tax applies to revenue from digital sales the company generates from ads that are displayed inside the state. A company that makes at least $100 million a year in global revenue but no more than $1 billion a year will face a 2.5 percent tax on its ads. Companies that make $15 billion a year  or more will pay a 10 percent tax. Facebook andGoogle’s global revenues far exceed $15 billion. New York tried to pass a similar law last year but could not get it approved. Tech giants have been battling similar bills in each state and will likely challenge this in court. The pandemic has only increased the revenue for tech giants while states are struggling and looking for ways to bring in more money any way they can. Taxing the tech giant’s is the chosen route.