ALSO CALLED: Taxation DEFINITION: In the U.S., NET FAIR, which is short for the New Economy Tax Fairness Act, is a proposed bill (S664) that would define clear standards by which a business or individual can be considered to have sufficient economic ties to a particular state or locality to justify taxation by that entity with the assumption
… Definition continues below.
TAX LAW DEFINITION (continued): … that it could not be taxed by comparable entities elsewhere. (Such economic ties are known as 'nexus' in legalese.) The bill was introduced in the 107th Congress on March 29, 2001 by Senators Herb Kohl of Wisconsin and Judd Gregg of New Hampshire.
There are more than 7,600 taxing jurisdictions in the United States. Recent advances in technology, particularly the Internet, have made business between entities in multiple jurisdictions increasingly common. In some instances, two or more jurisdictions … Tax Law definition sponsored by SearchCIO.com, powered by WhatIs.com an online computer dictionary
TechTarget provides enterprise IT professionals with the information they need to perform their jobs
- from developing strategy, to making cost-effective IT purchase decisions and managing their
organizations' IT projects - with its network of
technology-specific Web sites, events and magazines
Free Newsletters
