A California bill levying a 5% tax on digital advertising to fund youth mental health services passed its first committee Tuesday over stiff opposition from the tech industry.
The bill (A.B. 2829) from Assemblymember Diane Papan (D) passed the Assembly Committee on Privacy and Consumer Protection 6-3 and will be heard next in the Assembly Committee on Revenue and Taxation on April 29. It would impose the tax on gross revenue from digital advertising services in the state on companies with at least $100 million in global annual gross revenue, starting Jan. 1, 2025. The tax could generate ...
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