(CNN Business) Maryland became the first state in the country on Friday to impose a tax on digital advertising, as the state's senate voted to override a gubernatorial veto of legislation that would impose up to a 10% levy on revenue from online ads shown in Maryland. It's also another example of how proposals being introduced abroad to rein in Big Tech are increasingly gaining traction in the United States. But it could spark a court battle over the legality of the tax and its impact on digital businesses. The digital advertising provisions of Maryland's new tax law could raise an estimated $250 million in its first year, with revenues being earmarked for education. Facebook and Google generated $84 billion and $147 billion in digital advertising revenue last year, respectively.

Source: The Nation February 12, 2021 22:09 UTC