In this article for the Stetson Business Law Review, Omar Hussein argues that existing stock transfer taxes (STT) are ineffective. In today's digital age, barriers to reduce taxpayer migration are significantly lower than when taxes on financial transactions were first conceived. At minimum, taxpayer migration leads to reduced revenues for tax authorities, and in severe cases, significant downturns in financial markets. The article focuses on the STT in place in New York, and a possible alternative to proposed legislation to levy a broader tax on all stock transfer transactions. Hussein provides an overview of financial transaction taxes (FTT) and STT, both in the U.S. and Europe, and reviews calls for modern U.S. legislation and offers proposed solutions. The author argues that a statutory scheme aimed at reducing speculation, mitigating the impact of high-frequency trading, and protecting traditional market activity is key to a successful implementation of a stock transfer tax.