Partner Eli Rosenberg Shares Insights on Proposed Tax on International Money Transfers in Kansas: Sunflower State Journal

The Sunflower State Journal recently covered the proposed tax on international money transfers by Kansas Bureau of Investigation Director Tony Mattivi. In the article, Baird Holm Partner Eli Rosenberg, representing the Money Service Business Association of Montvale, NJ, expressed concerns before lawmakers, stating:

“While some may believe the bill will only affect undocumented immigrants who don’t pay taxes, that’s incorrect,” Rosenberg said. “The average taxpayer in Kansas will be negatively affected because they will lose money in the short term, and in the long-term the administrative process of retaining and documenting transaction records will significantly increase costs to instigate a simple transaction to send needed money to a relative overseas.”

Read the full article HERE.