Legitimizing the Sharing Economy: Reconciling the Tension Between State and Local Policy Concerns and Innovation

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

With the rise of businesses such as Uber, Lyft, and Airbnb, a new business model is emerging that state and local laws do not adequately address. Christopher Lutz, of Horwood Marcus & Berk Chartered, discusses specific sectors of this “sharing economy”and explains how governments can work with these industries to create a cooperative resolution. Doing so would foster business innovation and generate more revenue for localities and states, Lutz says.