Chicago has officially become the first city in the country to enforce a four-year, 9% “Netflix Tax” on streaming platforms.
The Windy City has already collected over $2 million from big companies like Netflix, Sony and Fandango and is expected to raise $12 million per year. However, the tax is being met with some expected resistance. A group representing Netflix, Amazon Prime and Spotify customers is in the process of appealing the tax.
Downloading more of your money…
While Chicago is the first major city to impose this tax, the states of Rhode Island and Pennsylvania will introduce a similar tax this summer. And as if Netflix rates were high enough were already!