Home

Tax Alerts

Tax Briefing(s)

2022 Tax Year-In-Review Consolidated Appropriations Act, 2023 Inflation Reduction Act of 2022, Signed Aug. 16 Inflation Reduction Act of 2022

IRS Reminds Taxpayers to FIle Tax Returns (FS-2023-2)
The IRS has reminded taxpayers of their tax responsibilities, including if they’re required to file a tax return. Generally, most U.S. citizens and permanent residents who work in the United St...

IRS Offers Checklist of Reminders as Taxpayers Prepare to File 2022 Tax Returns (IR-2023-17)
The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2022 tax returns. Following are some steps that will make tax preparation smoother for taxpayers in 2023:Gather...

IRS Reminds Taxpayers to Report Digital Asset-Related Income (IR-2023-12)
The IRS has reminded taxpayers that they must report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term "digital assets"�...

IRS Proposes New Service Industry Tip Compliance Agreement (SITCA) Program (Notice 2023-13)
The IRS has issued a guidance which sets forth a proposed revenue procedure that establishes the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program offered to...

AL - Filing deadline for taxpayers in declared disaster areas extended
Alabama corporate and personal income taxpayers residing in areas designated as disaster areas by the federal government have now until October 16, 2023, to file tax returns and make tax payments due ...

AK - Fisheries product development tax credit regulations changes adopted
The Alaska Department of Revenue adopted changes to regulations concerning the Fisheries Product Development Tax Credit. The adopted regulations add new language for establishing the method for calcul...

AZ - Tips related to 2023 tax season issued
Arizona issued guidance for personal income taxpayers on preparing for 2023 tax season and tips for a seamless tax filing. The guidance, among other information, discusses:filing requirements for full...

AR - Tax levied under amendment 101 excluded from manufacturing machinery refund
The 0.5% excise tax levied in Arkansas Constitution, Amendment 101, is not subject to the partial sales and use tax refund for the replacement and repair of certain manufacturing machinery and equipme...

CA - Tax professionals advised to establish or renew TIA and POA relationships for income tax filing purposes
The California Franchise Tax Board has encouraged tax professional partners to prudently establish or renew their Tax Information Authorization (TIA) or Power of Attorney (POA) relationships with thei...

CO - Public inputs on amendments to rules on credit for taxes paid to another states requested
The Colorado Department of Revenue has issued answers to frequently asked questions (FAQs) on the alternative transportation options tax credit that qualifying employers may claim against their corpor...

CT - Governor discusses childcare credit proposals
Connecticut Gov. Ned Lamont held a press conference to discuss his childcare proposals in the state budget, including a corporation business tax credit for employers that:provide assistance to their e...

DE - Hazardous substances cleanup tax rate for 2023 announced
Delaware has announced that the hazardous substance cleanup tax rate for 2023 is 0.8389%. The new tax rate goes into effect on January 1, 2023, and applies to the taxable gross receipts from the sale ...

DC - Guidance issued on temporary rate increase for lodging
The District of Columbia has issued some guidance on the temporary rate increase on the gross receipts for transient lodgings or accommodations. The increased additional tax rate of 1.3% is effective ...

FL - Governor proposes tax relief as part of his "Framework for Freedom" budget
Florida Gov. Ron DeSantis, along with Senate President Kathleen Passidomo and House Speaker Paul Renner, have announced their intent to pass sales and use, motor fuel, and other fuel tax relief under ...

GA - Georgia issued corrected local rate change announcement
Georgia has corrected and reissued the latest local sales and use rate change announcment. The rates are effective April 1, 2023.County Tax Rate ChangesCalhoun will have an LEST2 tax rate of 8%.Glynn ...

HI - Deadline to file personal income tax returns announced
The Hawaii Department of Taxation has issued a news release informing personal income taxpayers that the filing deadline for state income tax returns is April 20, 2023. The federal filing deadline for...

ID - Tax rebate non taxable; department will send corrected 1099-G
For corporate and personal income tax purposes, Idaho clarified that its tax rebates are non taxable. On February 10, 2023, the IRS announced that taxpayers who received Idaho’s tax rebates are not ...

IL - Final Grundy County multiplier announced for 2022
The final Grundy County equalization factor (multiplier) for Illinois property tax purposes has been set for 2022 at 1.0000. The final 2021 multiplier was also 1.0000. Release, Illinois Department of ...

IN - Rate reduction bill passes house
Indiana budget legislation includes a provision to reduce the personal income tax rate to 2.9% by 2026 and eliminate existing rate reduction trigger provisions. The bill has passed the Indiana House a...

IA - Guidance issued on electric fuel excise tax
The Iowa Department of Revenue has released new tax guidance regarding the electric fuel excise tax which takes effect July 1, 2023. In 2019, the Iowa legislature enacted H.F. 767 to create a new exci...

KS - Local rate changes announced
The Kansas DOR announces the local sales and use tax rate changes below for the quarter beginning April 1, 2023. In addition,as of January 1, 2023, the state tax rate on food and food ingredients has ...

KY - December sales tax facts sheet discusses residential utility exemption
Kentucky in its recent sales tax facts sheet discusses residential utility exemption, among other topics.The facts sheet discusses:Tax changes enacted by the General Assembly, through House Bill (HB)8...

LA - Mobile workforce exemption regulations adopted
The Louisiana Department of Revenue adopted regulations implementing the mobile workforce exemption. The Louisiana Legislature previously established this exemption, effective beginning in 2022. The e...

ME - Personal exemption instructions clarifiedo other jurisdictions
Maine Revenue Services clarified the amount of personal exemptions certain taxpayers should take on their Maine personal income tax returns. This is after an error was discovered in the 2022 Form 1040...

MD - List of taxable property and services issued
The Maryland Comptroller has issued a list of tangible personal property and services subject to sales and use tax. List of Tangible Personal Property and Services Subject to Sales and Use Tax, Maryla...

MA - Interest rates unchanged for second quarter of 2023
The interest rates on the underpayment and overpayment of Massachusetts taxes are unchanged for the period April 1, 2023, through June 30, 2023.The rate for overpayments is 6%.The rate for underpaymen...

MI - Online payment options for Detroit individual income tax taxpayers discussed
The city of Detroit personal income taxpayers can now pay by eCheck or debit or credit card their estimated payments, annual return payments, proposed tax due payments, 10-day demand payments, assessm...

MN - Guidance on tax liability for marketplace providers updated
The Minnesota Department of Revenue announced that it updated its guidance regarding sales tax liability relief for marketplace providers. Sales Tax for Marketplace Providers, Minnesota Department of ...

MS - Deductions for gender transition medical expenses disallowed
Mississippi amended its income tax laws to disallow deductions for medical expenses for gender transition procedures otherwise allowed by federal law. H.B. 1125, Laws 2023, effective February 28, 2023...

MO - Department started accepting E-filed tax returns
The Missouri Department of Revenue (department) has begun accepting electronically filed state tax returns for tax year 2022 from January 23, 2023 onwards.Personal income taxpayers may qualify for fre...

MT - Governor calls for tax reform
Montana Gov. Greg Gianforte gave his second State of the State Address, and laid out his priorities for the 2023 legislative session. In addition to areas such as education, economic development, and ...

NE - Local tax rate changes and municipal boundary changes announced
The Nebraska Department of Revenue has announced the following local sales and use tax rate changes effective July 1, 2023:The village of Trenton will start a local sales and use tax rate of 1.5%.The ...

NV - Film production credit regulations revised
Nevada has revised its regulations concerning transferable tax credits available for film and other qualified productions. Among other changes, the revised regulations set forth the requirements for c...

NH - Governor proposes eliminating communications tax
In his 2023 Budget Address, New Hampshire Governor Chris Sununu said he will recommend elimination of the 7% Consumer Communications Services Tax. 2023 Budget Address,Gov. Chris Sununu, February 14, 2...

NJ - Partnership income guidance issued
New Jersey has updated its guidance regarding the taxation of income from partnerships for purposes of the gross (personal) income tax. The updated bulletin explains, among other information, essentia...

NM - Interest rate remains the same for second quarter of 2023
The interest rate charged on an underpayment or paid on an overpayment of New Mexico tax will remain at 7% for the second quarter of 2023. The rates can be viewed on the New Mexico Department of Reven...

NY - Refund claim properly denied due to timeliness
The New York State Division of Taxation properly disallowed a taxpayer’s claim for credit or refund of personal income tax for the year 2016, because the claim was untimely filed beyond the limitati...

NC - 2022 personal income tax bulletin issued
The North Carolina Department of Revenue has issued a personal income tax bulletin to reflect the changes made in the 2022 regular session of the North Carolina General Assembly. The bulletin presents...

ND - Governor's budget proposal includes tax relief
North Dakota Gov. Doug Burgum has proposed a 2023-25 budget that would eliminate the state individual income tax for three out of five taxpayers. Under the proposal, those still paying the tax would h...

OH - 2023 second quarter PAT average wholesale prices released
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the second quarter of 2023.The average prices per gallon for the second quarter are:$2.370 for unleaded regula...

OK - Governor proposes tax relief in state of the state address
In his 2023 State of the State Address, Oklahoma Gov. Kevin Stitt proposed to reduce the personal income tax rate to 3.99%. In addition, he proposed to eliminate the state sales tax on groceries. Stat...

OR - IRC conformity bill advances
The Oregon Senate passed a bill that would update the state's income tax Internal Revenue Code conformity date to December 31, 2022. The bill now goes to the Oregon House. S.B. 141, as passed by the O...

PA - Taxpayer not entitled to review of audit
A master electrician and home improvement contractor (taxpayer) was not entitled to a review of delinquent business income and receipts tax (BIRT) and net profit tax (NPT) assessed by the Philadelphia...

RI - Limited Liability Company tax obligations
The Rhode Island Division of Taxation has issued a notice regarding income tax obligations of limited liability companies (LLCs). Both multi-member and single-member LLCs are required to file an annua...

SC - Interest rate for overpayments and underpayments announced
From April 1, 2023 through June 30, 2023, the South Carolina interest rate on underpayments of taxes remains 7%. The refund rate for overpayments is 4%. Information Letter 23-2, South Carolina Departm...

SD - Alternative fuel taxes can be collected under IFTA
South Dakota is now authorized to impose and collect alternative fuel taxes within the state's IFTA agreement. Currently, South Dakota only includes diesel fuel and diesel blends in it's ITFA collecti...

TN - Treatment of FDII deduction discussed
Although Tennessee decoupled from IRC §250 for purposes of global intangible low-taxed income (GILTI), the Department of Revenue announced that the state has not decoupled for purposes of the foreign...

TX - January 2023 certification of the average closing price of gas and oil released
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period January 2023 is $54.70 per barrel for the three-month period beginning on Octobe...

UT - Legislature approves tax rate cut
The Utah Legislature has approved a bill that would cut the state income tax rate from 4.85% to 4.65%. The tax rate cut is one of several tax provisions in the bill. If signed by the governor, the tax...

VT - Summary judgment affirmed as property owner’s action was time-barred
For Vermont property tax purposes, the Supreme Court affirmed the Superior Court’s grant of summary judgment to the town because the property owner’s action was time-barred by the one-year statute...

VA - Protest against BTPP assessment denied; taxpayer failed to provide sufficient information
A recycling facility operator's protest against Business Tangible Personal Property (BTPP) Tax assessment was denied as it was unclear from the information provided to the Virginia Tax Commissioner (c...

WA - Taxpayer could not bring nonconstitutional challenge to reporting instructions under APA
An asphalt manufacturer was not permitted to challenge the department's use tax reporting instructions pursuant to the Administrative Procedure Act (APA) because it was required to follow the procedur...

WV - Agreement reached on lower rates, other tax changes
The West Virginia Senate passed legislation with amendments that would lower personal income tax rates and make other tax changes. West Virginia Gov. Jim Justice announced that the legislature reached...

WI - Royalty deductions disallowed due to lack of economic substance and valid business purpose
In a Wisconsin corporate franchise tax case involving a corporation that claimed deductions for royalties paid to an affiliate for the use of certain intellectual property, it was proper for the Depar...

WY - Electronic filing and payments authorized
The Wyoming Department of Revenue and county treasurers may provide an option for sales and use tax returns and payments to be submitted electronically. Ch. 123 (H.B. 229), Laws 2023, effective July 1...

At Sella & Martinic, LLC we are committed to helping you minimize your taxes while helping to preserve your wealth accumulation.

Welcome and thank you for visiting our website. In addition to providing you with a profile of our firm and the services we provide, this website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the Internet as we strive to continue to provide the highest quality professional service and guidance.

As you browse through our website, you will see that we have highlighted background information on both our firm and the services we provide. Sella & Martinic, LLC has provided useful resources such as informative articles (in our Newsletters section) and interactive financial calculators (in our Financial Tools section). In addition, we have included various links to external websites that may be of assistance to our clients and visitors (in our Links section).

Please feel free to contact us with any questions or comments you may have.....we are interested in hearing from you. Our tax advisors pride themselves on being proactive and responsive to our clients' inquiries and suggestions.