McDermott Will & Schulte, a global law firm

Stephen Kranz and Diann Smith discussed a proposed bill to limit state taxation of interstate commerce to activity conducted by entities with physical presence. Mr. Kranz said the bill “goes the opposite direction from [other proposals] that would have created a federal framework for remote sales tax collection,” while Ms. Smith cautioned that “we can’t really anticipate what such legislation would really mean 20, 50 years down the road. I think that is always a problem with legislation that’s this broad.”