Webinar | August 2020
SLC Fiscal Affairs & Government Operations Committee Virtual Program
Presiding Officer: Representative Penny Houston, Georgia; Chair, SLC Fiscal Affairs & Government Operations Committee
As advances in technology both create new and reshape existing markets, states are looking to regulate and tax these emerging business models. These include digital streaming services, electronic goods, ridesharing services and short-term rentals, among others. With consumers shifting to embrace this new economy, and the market for digital goods and services growing exponentially, these emerging markets are replacing prior, and broadening existing, sources of state revenue. This program highlights how states' efforts to tax these new revenue sources and the economic impact these emerging markets could have on the Southern region. With the COVID-19 pandemic contributing to a significant economic downturn, supplementing existing revenues will be a necessary tool for policymakers facing possible budget reductions in fiscal year 2021 and beyond.