New York May Start Taxing You for Streaming Services
If you're a fan of streaming services rather than classic cable and satellite, New York may make them more expensive for you under its budget proposal.
According to a report by Nick Reisman of Spectrum News 1, The New York State Assembly's budget plan would add a 4% state sales tax and a 4% local sales tax for digital streaming products.
What Would a New York Streaming Tax Mean?
That means if you're a fan of getting your shows online, rather than on cable or satellite, entertaining yourself in your downtime may become a little bit more expensive.
The increased sales tax would apply to all digital streaming products, from TV to audiobooks and even gaming and music.
Money from the streaming tax is expected to raise as much as $29 million in the first year and as much as $63 million in the coming years. The added revenue would go towards mass transit systems like the MTA.
Reisman's report also notes that New York is seeking to add a 25-cent fee on every delivery transaction in the state except medicine, medical supplies, food, diapers and baby formula. That tax revenue would also be used to aid mass transit systems like the MTA.
Avid streamers like myself certainly aren't thrilled with the proposal. The move from cable and satellite to streaming only is typically a cost-saving measure for many people, so they can choose the streaming services that best fit their needs and save money that they would otherwise pay cable and satellite companies for channels they have no interest in watching. And as more and more people cut the cord, there will certainly be added outrage in the future over the streaming tax.