Internet Tax Simplification Act of 2000

Internet Tax Simplification Act of 2000 - Amends Federal law to establish moratoria on State and local Internet taxes.

Expresses the sense of Congress that States and local entities should work with the National Conference of Commissioners on Uniform State Laws to develop a Streamlined Uniform Sales and Use Tax Act. Authorizes, and grants congressional consent for, States to enter into an Interstate Sales and Use Tax Compact. Stipulates that such authorization and consent shall terminate if the Compact has not been formed by a certain date.

Authorizes States to administer a single uniform statewide use tax rate for all remote sales under specified circumstances.

Expresses the sense of Congress that States and local entities should continue to work with the telecommunications industry to simplify and unify telecommunications taxes.

Makes a conforming amendment to the Trade Act of 1974 and other Federal law.