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  1. #1
    Junior Member
    Join Date
    Feb 2013
    Posts
    15

    What is your opinion about the all new Domain taxation?

    The tax system of Google is in the news now. The news says that the system is trying to lift the system of tax payment for maintaining domain on Google. This news is not only shocking but is also baffling to many. This is a new rule implemented about taxing, so have you heard about the domain tax before? Do you know about the system in detail? At present I have launched a trading fret and waiting for Google’s response on it. To know more about the tax on domain just read the blog. Also share your opinion and ideas if any.

  2. #2
    Registered User GardnerBulkeley's Avatar
    Join Date
    Aug 2009
    Posts
    791
    Could you provide more details about this? Or share the link to the news source?
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  3. #3
    Junior Member
    Join Date
    Mar 2013
    Posts
    15
    Tax system of Google is in the limelight now for its good effort to lift the tax payment aiming to maintain the domain of Google.

  4. #4
    Recently, the IRS released Chief Counsel Advice (CCA) 201543014, which provides guidance on the tax treatment for the costs of internet domain names. Essentially, the IRS determined that the costs of acquiring domain names are to be capitalized under Sec. 263 as intangible assets and that those costs should be amortized under Sec. 197 over a 15-year period.

    In the CCA, a company acquired internet domain names on two separate occasions. In 2013, the company acquired two internet domain names as part of an asset acquisition of a trade or business. A portion of the total purchase price of the acquisition was allocated to each domain name. One domain name was considered to be a generic name, and the other was considered to be nongeneric (both of which are defined below).

    In 2014, the same company purchased two more domain names, one generic and one nongeneric, from existing holders. Neither purchase was part of a larger asset acquisition. All four domain names were to be used in the taxpayer’s trade or business. No other facts were provided.

    The CCA defines the term “generic” as not being a company or product name, but instead a generic term used to describe a product or service. A nongeneric name is the name of a company, product, or service. Additionally, a nongeneric name is used to identify a specific company, product, or service that can be clearly distinguished from all the other companies, products, or services within the industry. Also, nongeneric names can sometimes, depending on the circumstances, meet the definition of a trademark as defined in Regs. Sec. 1.197-2(b)(10).

  5. #5
    Registered User
    Join Date
    Apr 2016
    Location
    Greece
    Posts
    555
    TAX domain to create a website that discusses new tax policies or to create a forum for tax-related questions. There are no restrictions on. TAX domain names. Anyone can register, and the domain can be used for any purpose.
    Domain Domains

  6. #6
    Registered User
    Join Date
    Feb 2014
    Location
    delhi
    Posts
    572
    The sale of a domain name could be taxable if you had a gain or you might you might have get a tax benefit if you had a loss. ... If you bought the domain name and never used it in a business or deducted then the sale would be a capital gain or loss reported on schedule D.

  7. #7
    Registered User
    Join Date
    Mar 2015
    Location
    US
    Posts
    35
    The IRS has released a new notification in its convention that the website owners have to pay a minimum sales tax based on the profit the particular domain is using. There is a considerable difference between Google-based and other search engine based domains, as the sales and hosting tax is high in Google compared to the others.
    Taxation enthusiasts and professionals working in the finance industry need to use different software that integrates with the domain to reduce the increased tediousness. Using Avalara, Taxwise, and integrating with other software like Bill.com, tsheets could be very beneficial in solving such kinds of tax issues.
    Working at Ace Cloud Hosting, a leading QuickBooks Hosting provider. ACE also offers DaaS and Hosted Virtual Desktop to its clients globally.

  8. #8
    Senior Member
    Join Date
    Aug 2020
    Posts
    1,517
    Taxation not only pays for public goods and services; it is also a key ingredient in the social contract between citizens and the economy. How taxes are raised and spent can determine a government's very legitimacy.

  9. #9
    Member
    Join Date
    Sep 2020
    Posts
    59
    dear friend,
    A tax is a compulsory financial charge on a taxpayer. the same revenue can be produced with a lower utility sacrifice.it is also a ingredient in the social contract between citizens and the economy.

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