SIFMA Managing Director Testifies before a Minnesota Legislative Panel on Proposed Taxes on the Sale of Financial Services

SIFMA Managing Director Nancy Donohoe Lancia testified before a Minnesota State Legislature panel on state bills HF 677 and SF 552, which would create a tax on financial services.

SIFMA and its member firms testified in opposition to the imposition of the sales tax on financial services, arguing that the sales tax on services proposed in HF 677 and SF 552 would likely lead to decreased business activity and employment in the state and would increase the cost of doing business in Minnesota.

Click here to view testimony in full (links externally to SIFMA website).Related News: "SIFMA Memorandum to the New York State Senate Judiciary Committee Opposing S. 729" (March 14, 2013).