From the "it was only a matter of time" file, we look to Chicago and its new Cloud Tax.  On July 1st, a new "cloud tax" took effect in the city of Chicago, targeting online databases and streaming entertainment services such as Netflix and Spotify. Although the tax is on consumers, some companies are already preparing to collect it as part of the monthly bill. Netflix has announced plans to adjust their billing and increase the cost of service charged to its Chicago customers. 

As the The Verge reported, "Twenty years ago, the same albums and movies were consumed at video rental outlets and music stores - which paid local property taxes, potentially paired with municipal sales taxes and other brick-and-mortar duties. But as online subscription services take over more and more of our music and video budgets, that money ends up disappearing from the traditional municipal tax base."

Will we see this or similar taxes in South Carolina? This is unknown.  But, The Insider is pretty sure that this will not be the last time you hear about the Cloud Tax so please make sure to always have an umbrella handy.