a16z Counsel Miles Jennings Says No Comparable State Financial Transaction Tax Exists for Securities

a16z general counsel Miles Jennings said there is effectively no comparable state financial transaction tax on stocks, bonds, or derivatives anywhere in the country. According to Cointelegraph, Jennings made the remark while discussing the absence of a similar state-level tax framework for these types of securities transactions. Jennings’ statement focused on comparing the presence of state financial transaction taxes across different asset classes, emphasizing that stocks, bonds, and derivatives do not face an equivalent state transaction tax in the United States. The comment did not include additional details about specific states, proposed legislation, or any timeline, and it did not provide further context beyond the claim that such a comparable tax does not exist for these securities.