Hawaii Explains Nexus Thresholds
The Hawaii Department of Taxation explains the recently enacted thresholds for businesses to be subject to general excise tax. As previously reported, the thresholds were enacted by Act 41 (S.B. 2514),...
View ArticleKentucky Provides Wayfair Guidance
Following the decision in South Dakota v. Wayfair, Inc., U.S. Supreme Court, Dkt. No. 17-494, June 21, 2018, the Kentucky DOR has issued a release on the state’s recently enacted sales tax nexus...
View ArticleRhode Island Outlines Remote Seller Registration Options
Rhode Island reminds remote sellers of registration options for collecting and remitting sales tax. Remote sellers may register: – with the state directly by submitting a Business Application and...
View ArticleVermont Reduces Rates, Updates IRC Conformity
Vermont legislators passed a budget bill updating the Internal Revenue Code (IRC) conformity date and making various personal income tax changes. Governor Phil Scott announced that he plans to let the...
View ArticleWeekly Report from Washington, D.C.
The Weekly Report form Washington, DC June 25 edition covers, the Senate Finance Committee (SFC) held a confirmation hearing for IRS Commissioner nominee Charles Rettig. Across the Capitol, House Ways...
View ArticleHawaii Severe Storms, Flooding Victims Granted Tax Relief (HI-2018-03)
The president has declared federal disaster areas in Hawaii. The disaster is due to severe storms, flooding, landslides and mudslides beginning on April 13, 2018. The disaster area includes: County of...
View ArticleIRS Unveils New Draft Form 1040
Taxpayers will be able to file federal income taxes starting next filing season on a new postcard-sized Form 1040. The IRS officially released the draft 2018 Form 1040 on June 29. Draft Form 1040 The...
View ArticleCalifornia Enacts New Film and TV Credit
California provides a new film and television production tax credit for tax years beginning after 2019. The credit is similar to existing personal income and corporation franchise and income tax...
View ArticleIdaho Is Reviewing Impact of Wayfair Decision
The Idaho State Tax Commission has issued a statement on the potential sales tax impact of South Dakota v. Wayfair, Inc., U.S. Supreme Court, Dkt. No. 17-494, June 21, 2018. The Court’s decision...
View ArticleMassachusetts Enacts Payroll Tax
Massachusetts Gov. Charlie Baker signed legislation that imposes a .63% payroll income tax on employers beginning July 1, 2019 for a new family and medical leave program (TAXDAY, 2018/06/28, S.7). H.B....
View ArticleNew Hampshire Responds to Wayfair Decision
Following the decision in South Dakota v. Wayfair, Inc., U.S. Supreme Court, Dkt. No. 17-494, June 21, 2018, Governor Chris Sununu joined Senate President Chuck Morse, House Speaker Gene Chandler,...
View ArticlePennsylvania Decouples Corporate Income Tax from Federal Bonus Depreciation
Pennsylvania has decoupled its corporate income tax from federal bonus depreciation provisions in the Federal Tax Cuts and Jobs Act of 2017 (TCJA). Taxpayers must addback IRC Sec. 168(k) bonus...
View ArticleTrump: Tax Reform Phase Two May Include Corporate Tax Cut
Tax reform phase two may include lowering the corporate tax rate, according to President Donald Trump. Republicans are “thinking about bringing the 21 percent [corporate tax rate] down to 20,” Trump...
View ArticleLouisiana Telecomm Rates Decreased
The following Louisiana telecommunications sales tax rate decreases took effect July 1, 2018: – the rate on intrastate telecommunications services and prepaid calling cards was reduced from 4% to...
View ArticleMassachusetts Enacts Permanent Annual Sales Tax Holiday
Massachusetts Gov. Charlie Baker signed legislation that creates an annual sales tax holiday beginning August 1, 2019. (TAXDAY, 2018/06/28, S.8). H.B. 4640, Laws 2018, July 1, 2019 Login to read more...
View ArticleNew Jersey Enacts Tax Amnesty Bill
Enacted legislation requires the New Jersey Division of Taxation to establish a 90-day state tax amnesty period that ends no later than January 15, 2019. The Legislature had previously passed a bill...
View ArticleNew Jersey Enacts Surtax, Combined Reporting, and Decoupling
The New Jersey governor signed a bill that: – impose a surtax on corporations for two years; – decouples from certain provisions of the federal Tax Cuts and Jobs Act; – reduces the dividend exclusion;...
View ArticleTennessee Sales Tax Holiday Will Be Held Last Weekend in July
The Tennessee Department of Revenue has announced that the sales tax holiday will be held on July 27 through July 29, 2018. Items that qualify for the holiday include clothing that costs $100 or less...
View ArticleCalifornia Prohibits Local Taxes on Groceries
A local agency cannot impose, increase, levy and collect, or enforce any California sales and use tax, fee, or other assessment on groceries. Taxes Imposed Prior to January 1, 2018 A local agency may...
View ArticleDelaware Increases Estimated Tax Threshold
Delaware legislation increases the threshold for the payment of estimated personal income tax liability. The legislation also: – eliminates the requirement that the Division of Revenue mail blank...
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