Digital Disruption - Transforming Transactions: Tax, Legal, & Regulatory Implications

San Francisco, CA

Price: $395 (Regular Price)


December 6, 2016


Bloomberg, LP
3 Pier
San Francisco, CA 94109



Businesses in the sharing economy have experienced rapid growth and have challenged traditional business transactions that archaic policies and laws cannot adequately address. Businesses in the transportation (Uber), entertainment (Netflix), retail (Amazon), gaming (Draft Kings) and hospitality (Airbnb) industries have experienced swift growth and are most effected by dated regulations. Therefore, these industries are on the front lines of policy reform as taxation, regulatory, and legislative concerns continue to rise predominantly at the local or state level; among them:

  • Labor rights and worker classification
  • Unfair competition
  • Rental registration enforcement
  • Public safety issues
  • Cross-border taxation
  • Income and real estate taxation
  • Licensure disputes

As technology changes and as the sharing economy grows, disruption is inevitable and will continue to effect state, federal, and foreign levels of policy. Resolution is slow as lawmakers try to catch up, taking notably different approaches, or attempting to jam new business models into existing policies. Lawmakers and businesses alike are looking for uniform, simplified, and nimble reform that promotes innovation for businesses, secures revenue, and stabilizes policy.



The Modern IRS: Reforming Policy to Incorporate New Businesses
Business models have undergone a major shift from physical to virtual with multiple points of entry for one transaction. Tax, legal, and regulatory reform is on the horizon as conflicts around antiquated business and policy rise at state and federal levels. As Congress responds slowly to the issues archaic business structures and policies are causing more broadly, local governments and states are taking different approaches and losing millions of dollars per day on lost revenue. 

Creating New Legislation
Overturning Quill and the Physical Presence Standard is imminent as the economy trends digitally. Ohio, South Dakota, Alabama, and Massachusetts are only a few states with cases pertaining to nexus and cross-border state taxation that potentially could go to the Supreme Court and challenge Quill. In addition to states taking the lead on reform, the Marketplace Fairness Act is stalled in Congress attempting to do the same. The path forward for success is clear, as state and federal governments are called to work together with new businesses to create cooperative, mutually beneficial outcomes that allow innovative businesses to thrive and states to govern under inclusive policies.  

Playing by New Rules: Industry Outlook
A look into the conflicts of the sharing economy as businesses and states battle policies primarily around public safety, labor, and taxation. Lawmakers struggle to respond causing lengthy labor disputes and other legislative battles to drag on and intensify. These debates will only continue as regulators attempt to catch up with innovation and public demand. Among these issues are:

  • Ridesharing (Uber, Lyft) businesses facing issues like labor rights, worker classification and tax classifications
  • Homesharing (Airbnb, HomeAway) businesses facing issues like state registration compliance and tangible property taxes
  • Online Gaming (Draft Kings, FanDuel) business facing concerns over consumer protection including the Lawful Internet Gaming Act
  • Streaming Entertainment (Netflix, Spotify) being subject to an “Amusement Tax” to make up lost tax revenue to slow DVD and CD sales, or physical goods




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Please include the following information with your request: complete contact information, program for which a hardship reduction is being requested, requested amount for hardship reduction, and reason for applying for hardship. Please note that requests will not be considered until 30 days from the program date and that individuals may only apply for a hardship reduction once within a 12-month period. Bloomberg BNA reserves the right to make a final determination on a case-by-case basis. Our decision for granting a hardship is final and submission does not constitute acceptance.



A 2.5 hour briefing and refreshments.