When it comes time to relax with your favorite show, where do you go to find it? Over the last decade, more and more people have made the choice to look online and utilize streaming services like Netflix and Hulu instead of depending on traditional cable or satellite TV.
This trend is in line with digital transitions in many industries, and like those other industries, it presents new tax challenges for regulatory agencies and streaming companies alike.
In this article, we’ll share the brief history of streaming taxes, where we are today and our predictions for the future.
An Overview Of Streaming Taxes
As the most famous of the streaming services, Netflix paved the way for those that followed in its wake. First offering its “Watch Now” video on demand service in 2007, Netflix has more than 208 million paying subscribers, with 74.4 million of those in the U.S. and Canada.