Quiz: Do you Know what the Internet Tax Freedom Act is?
The Internet Tax Freedom Act, commonly referred to as ITFA, is a lucky tax break for those in the United States who like to surf the Web. Take this quiz to find out about the Internet Tax Freedom Act.
Why is the price on the price tag not necessarily the final price for an item?
- because it's false advertising
- because it's a mistake
- because sales tax is often added
What is the purpose of a sales tax?
- to raise revenue for the government
- to make you think twice about what you buy
- to bring in more money for the retailer
How much is the sales tax for Internet access?
What did the Internet Tax Freedom Act (ITFA) stipulate no tax should be charged for?
- Internet use
- overseas purchases
- purchases of more than $500
In what year was Internet Tax Freedom Act (ITFA) enacted?
When does a "grandfather clause" apply?
- when a new law supersedes an old rule
- when an old rule is superseded by a new law
- when an old rule is not superseded by a new law
Which of these states were allowed to charge Internet tax because of an old rule prior to 1998?
- Kansas and Florida
- New Jersey and Washington
- Ohio and Texas
Which committee was appointed to monitor the effectiveness of the Internet Tax Freedom Act?
- Advisory Commission of Electric Commerce
- Oversight Committee for Online Privacy and Security
- Data Privacy and Integrity Advisory Committee
What additional moratorium was put into effect regarding electronic commerce?
- All electronic commerce transactions had to be reported at the end of every fiscal year.
- Neither your state of residence nor the state where the item was being purchased could tax you.
- The number of untaxed items you could buy was limited.
When is the next scheduled discussion the Internet Tax Freedom Act?
- Jan. 1, 2012
- Nov. 1, 2014