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2023 Post-Filing Season Update2022 Tax Year-In-ReviewConsolidated Appropriations Act, 2023Inflation Reduction Act of 2022, Signed Aug. 16Inflation Reduction Act of 2022
IRS Reminds Taxpayers to Develop Emergency Preparedness Plans, IR-2023-161
In light of September being the National Preparedness Month, the IRS has reminded taxpayers of the upcoming hurricane season and the need to develop an emergency preparedness plan. Taxpaye...
In light of September being the National Preparedness Month, the IRS has reminded taxpayers of the upcoming hurricane season and the need to develop an emergency preparedness plan. Taxpaye...
IRS Hiring Employees to Expand Compliance for Large Corporations and Complex Partnership, IR-2023-172
The IRS has announced the opening of more than 3,700 positions nationwide to help with expanded enforcement work focusing on complex partnerships and large corporations. These compliance pos...
The IRS has announced the opening of more than 3,700 positions nationwide to help with expanded enforcement work focusing on complex partnerships and large corporations. These compliance pos...
Plan Sponsors Who Timely Filed Forms 8955-SSA Not Required to Respond to Certain Penalty Notices
The IRS has informed that due to a result of a programming issue in the IRS system that receives Forms 8955-SSA, the Service has sent out CP 283-C penalty notices to plan sponsors who timely file...
The IRS has informed that due to a result of a programming issue in the IRS system that receives Forms 8955-SSA, the Service has sent out CP 283-C penalty notices to plan sponsors who timely file...
FinCEN Releases Compliance Guide for Small Business Beneficial Ownership Reporting, FIN-2023-NTC2
The Department of the Treasury’s Financial Crimes Enforcement Network has published a guide to help small businesses report beneficial ownership information."This guide is the latest in our on...
The Department of the Treasury’s Financial Crimes Enforcement Network has published a guide to help small businesses report beneficial ownership information."This guide is the latest in our on...
Many Businesses Must File Form 8300 Electronically Starting in 2024, FS-2023-19; IR-2023-157
The IRS announced that starting January 1, 2024, certain businesses will be required to electronically file Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return....
The IRS announced that starting January 1, 2024, certain businesses will be required to electronically file Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return....
AL - Motor fuel tax rates increased
Effective October 1, 2023, the following Alabama motor fuel tax rates increase as indicated:gasoline—from 28 to 29 cents per gallon;diesel—from 29 to 30 cents per gallon;compressed natural gas (CN...
Effective October 1, 2023, the following Alabama motor fuel tax rates increase as indicated:gasoline—from 28 to 29 cents per gallon;diesel—from 29 to 30 cents per gallon;compressed natural gas (CN...
AK - Interest rates announced for Q3 of 2023
The Alaska interest rate for delinquent taxes and overpayment of taxes is set at 10.5%, compounded quarterly, for the period beginning July 1, 2023. Quarterly Interest Rate, Alaska Department of Reven...
The Alaska interest rate for delinquent taxes and overpayment of taxes is set at 10.5%, compounded quarterly, for the period beginning July 1, 2023. Quarterly Interest Rate, Alaska Department of Reven...
AZ - Interest rates increased for 4th quarter of 2023
The interest rate on the underpayment and overpayment of Arizona taxes is increased to 8% for the quarter beginning October 1, 2023, and ending December 31, 2023. For the third quarter of 2023 the rat...
The interest rate on the underpayment and overpayment of Arizona taxes is increased to 8% for the quarter beginning October 1, 2023, and ending December 31, 2023. For the third quarter of 2023 the rat...
AR - Tax rate decreased, temporary tax credit created
Arkansas has enacted legislation reducing the highest income tax rates for corporate and individual taxpayers for tax years beginning on or after January 1, 2024. The highest rate for corporate taxpay...
Arkansas has enacted legislation reducing the highest income tax rates for corporate and individual taxpayers for tax years beginning on or after January 1, 2024. The highest rate for corporate taxpay...
CA - Microbusiness COVID-19 relief grants exclusion extended
California has extended the exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program. The extended exclusions apply:for...
California has extended the exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program. The extended exclusions apply:for...
CO - Deferral program changes effective January 1st
Colorado has made two changes to the property tax deferral program that begin for property tax year 2023Currently, a homeowner can not defer tax on a home that is income-producing. The bill exempts ho...
Colorado has made two changes to the property tax deferral program that begin for property tax year 2023Currently, a homeowner can not defer tax on a home that is income-producing. The bill exempts ho...
CT - Guidance on net deferred tax liability deduction updated
The Connecticut Department of Revenue Services has updated its guidance on the calculation of the net deferred tax liability (DTL) deduction to reflect legislation that extended the installment period...
The Connecticut Department of Revenue Services has updated its guidance on the calculation of the net deferred tax liability (DTL) deduction to reflect legislation that extended the installment period...
DE - Itemized deduction for union dues added
Delaware legislation added an itemized personal income tax deduction for the annual cost to state residents of maintaining membership in a labor organization. A taxpayer can deduct up to $500 of the a...
Delaware legislation added an itemized personal income tax deduction for the annual cost to state residents of maintaining membership in a labor organization. A taxpayer can deduct up to $500 of the a...
DC - Sales tax on additional mandatory charges as a result of initiative 82 discussed
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
FL - Guidance issued on catastrophic event property damage
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, when property taxes are due, reporting destruction or...
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, when property taxes are due, reporting destruction or...
GA - Hurricane Idalia related tax relief announced
The Georgia Department of Revenue has postponed the due dates to most tax returns for taxpayers in areas affected by Hurricane Idalia. The postponement relief applies to return filing, tax payment, an...
The Georgia Department of Revenue has postponed the due dates to most tax returns for taxpayers in areas affected by Hurricane Idalia. The postponement relief applies to return filing, tax payment, an...
HI - Wildfire relief FAQs released
The Hawaii Department of Taxation has released frequently asked questions (FAQs) related to 2023 Wildfire Relief concerns. The FAQs offer guidance on relief that is available and how to make relief re...
The Hawaii Department of Taxation has released frequently asked questions (FAQs) related to 2023 Wildfire Relief concerns. The FAQs offer guidance on relief that is available and how to make relief re...
ID - Sales tax exemption related to yard sales discussed
Taxpayers may use Idaho sales tax exemption if they have no more than two yard sales in the calendar year and if they are not in the business of selling (a retailer). The exemption is also applicable ...
Taxpayers may use Idaho sales tax exemption if they have no more than two yard sales in the calendar year and if they are not in the business of selling (a retailer). The exemption is also applicable ...
IL - Assessment on disregarded entity’s purchase of aircraft partly affirmed
The Illinois Tax Tribunal (tribunal) partially affirmed an assessment of use tax on a disregarded entity’s (taxpayer’s) purchase of an aircraft because the taxpayer failed to establish that the as...
The Illinois Tax Tribunal (tribunal) partially affirmed an assessment of use tax on a disregarded entity’s (taxpayer’s) purchase of an aircraft because the taxpayer failed to establish that the as...
IN - County rate notice updated
Indiana has updated its notice providing county income tax rate information. The updated rates in the notice are effective for withholding purposes for periods beginning on or after October 1, 2023.Wh...
Indiana has updated its notice providing county income tax rate information. The updated rates in the notice are effective for withholding purposes for periods beginning on or after October 1, 2023.Wh...
IA - Pass-through entity tax guidance updated
Iowa has updated its pass-through entity tax guidance including new or updated common questions, addressing:What is the deadline for making a PTET election?How is the PTET calculated and what is the t...
Iowa has updated its pass-through entity tax guidance including new or updated common questions, addressing:What is the deadline for making a PTET election?How is the PTET calculated and what is the t...
KS - Taxpayers notified of rate reduction
The Kansas Attracting Powerful Economic Expansion (APEX) Act provides economic development incentives, including a corporate income tax credit, to qualified firms and suppliers that meet economic dev...
The Kansas Attracting Powerful Economic Expansion (APEX) Act provides economic development incentives, including a corporate income tax credit, to qualified firms and suppliers that meet economic dev...
KY - Railroad revitalization property tax rate, local multiplier set for 2023
The Kentucky Department of Revenue has announced that the Railroad Revitalization and Regulatory Reform (4-R) property tax rate on the affected tangible property has been set for 2023 at 22.44 cents p...
The Kentucky Department of Revenue has announced that the Railroad Revitalization and Regulatory Reform (4-R) property tax rate on the affected tangible property has been set for 2023 at 22.44 cents p...
LA - Government of guam retirement fund income not exempt
The Louisiana Board of Tax Appeals held that income received from the Government of Guam Retirement Fund was not exempt from personal income tax as "income received by an individual pursuant to a reti...
The Louisiana Board of Tax Appeals held that income received from the Government of Guam Retirement Fund was not exempt from personal income tax as "income received by an individual pursuant to a reti...
ME - Interest rates increase
The annual interest rate on overpayments and underpayments of Maine taxes for 2024 will increase to 10%. Interest Rates, Maine Revenue Services, September 7, 2023...
The annual interest rate on overpayments and underpayments of Maine taxes for 2024 will increase to 10%. Interest Rates, Maine Revenue Services, September 7, 2023...
MD - Circuit court authorized to enter judgment awarding surplus funds
For Maryland property tax purposes, the circuit court did not err in awarding a portion of the surplus funds to the condominium council because it remained entitled to the balance of the surplus proce...
For Maryland property tax purposes, the circuit court did not err in awarding a portion of the surplus funds to the condominium council because it remained entitled to the balance of the surplus proce...
MA - Interest rates increased for fourth quarter of 2023
The interest rates on the underpayment and overpayment of Massachusetts taxes are increased for the period October 1, 2023, through December 31, 2023.The rate for overpayments is 7%.The rate for under...
The interest rates on the underpayment and overpayment of Massachusetts taxes are increased for the period October 1, 2023, through December 31, 2023.The rate for overpayments is 7%.The rate for under...
MI - Completion time extended for brownfield tax credit for one project
Michigan extended the time within which one particular project in Detroit can be completed and still be eligible, without penalty, for preapproved brownfield tax credits. The exception applies to a qu...
Michigan extended the time within which one particular project in Detroit can be completed and still be eligible, without penalty, for preapproved brownfield tax credits. The exception applies to a qu...
MN - Fact sheet on special local taxes revised
Minnesota revised a fact sheet on special local taxes to reflect the following previously enacted new local taxes that are effective October 1, 2023:Metro Area sales and use tax for housing is 0.25%; ...
Minnesota revised a fact sheet on special local taxes to reflect the following previously enacted new local taxes that are effective October 1, 2023:Metro Area sales and use tax for housing is 0.25%; ...
MS - City of Eupora levies hotel, motel, and restaurant tax
The Mayor and the Board of Aldermen of the city of Eupora in Mississippi have adopted a resolution, effective October 1, 2023, to levy a 2% tax on:the gross sales of hotels, motels, and Airbnbs derive...
The Mayor and the Board of Aldermen of the city of Eupora in Mississippi have adopted a resolution, effective October 1, 2023, to levy a 2% tax on:the gross sales of hotels, motels, and Airbnbs derive...
MO - Local tax rate changes announced
The following local Missouri sales and use tax rate changes take effect October 1, 2023. Also, new rates are listed for each county, city, and special district affected by the rate changes.County Chan...
The following local Missouri sales and use tax rate changes take effect October 1, 2023. Also, new rates are listed for each county, city, and special district affected by the rate changes.County Chan...
MT - Pass-through entity tax guidance updated
Montana has updated the guidance that it recently issued on the pass-through entity tax (PTET), which is an elective tax paid by the pass-through entity on an owner's distributive share of Montana sou...
Montana has updated the guidance that it recently issued on the pass-through entity tax (PTET), which is an elective tax paid by the pass-through entity on an owner's distributive share of Montana sou...
NE - Reminder issued on real property and agricultural land tax credits
The Nebraska Department of Revenue reminds property owners that the Property Tax Credit Act provides a tax credit based on the credit allocation valuation of each parcel of real property compared to t...
The Nebraska Department of Revenue reminds property owners that the Property Tax Credit Act provides a tax credit based on the credit allocation valuation of each parcel of real property compared to t...
NV - Proposal to exempt diapers headed to voters
In the 2024 general election, Nevada voters will decide if diapers will be exempt from all sales and use taxes effective January 1, 2025. If approved by the voters, the exemption would be in effect un...
In the 2024 general election, Nevada voters will decide if diapers will be exempt from all sales and use taxes effective January 1, 2025. If approved by the voters, the exemption would be in effect un...
NH - Interest rates increase
Interest rates on underpayments and refunds will increase for 2024.For 2024, rates are:9% for underpayments; and6% for refunds.Technical Information Release TIR 2023-002, New Hampshire Department of R...
Interest rates on underpayments and refunds will increase for 2024.For 2024, rates are:9% for underpayments; and6% for refunds.Technical Information Release TIR 2023-002, New Hampshire Department of R...
NJ - GILTI and FDII sourcing guidance updated
New Jersey has revised its corporation business tax Technical Bulletin TB-92 regarding allocation of:global intangible low-taxed income (GILTI) defined in IRC Sec. 951A; andforeign derived intangible ...
New Jersey has revised its corporation business tax Technical Bulletin TB-92 regarding allocation of:global intangible low-taxed income (GILTI) defined in IRC Sec. 951A; andforeign derived intangible ...
NM - No credit for tax paid to another state on out-of-state income
The New Mexico Administrative Hearings Office held that a taxpayer was not entitled to a credit against their New Mexico personal income taxes for taxes paid to California on income from a rental prop...
The New Mexico Administrative Hearings Office held that a taxpayer was not entitled to a credit against their New Mexico personal income taxes for taxes paid to California on income from a rental prop...
NY - Treatment of banking group's cash election, receipts factor, and credit claims determined
In a New York corporate franchise tax case involving a combined group operating as a global investment bank and institutional securities firm, the group's election to treat the cash collateral that it...
In a New York corporate franchise tax case involving a combined group operating as a global investment bank and institutional securities firm, the group's election to treat the cash collateral that it...
NC - Methodology for calculating franchise tax for taxpayer’s CFC discussed
The North Carolina Department of Revenue issued a private letter ruling as to the proper methodology for calculating franchise tax for a company’s (taxpayer’s) wholly-owned controlled foreign corp...
The North Carolina Department of Revenue issued a private letter ruling as to the proper methodology for calculating franchise tax for a company’s (taxpayer’s) wholly-owned controlled foreign corp...
ND - 2023 legislative recap issued
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
OH - 2023 fourth quarter PAT average wholesale prices released
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2023.The average prices per gallon for the third quarter are:$2.447 for unleaded regular...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2023.The average prices per gallon for the third quarter are:$2.447 for unleaded regular...
OK - SST taxability matrix and certificate of compliance updated
Oklahoma updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2023. Taxability Matrix: Tax Administration Prac...
Oklahoma updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2023. Taxability Matrix: Tax Administration Prac...
OR - Racial and ethnicity data collection authorized
Oregon has enacted a law allowing the attachment, to personal income tax returns, a schedule that allows taxpayers to voluntarily provide their racial and ethnicity identifiers. The department of reve...
Oregon has enacted a law allowing the attachment, to personal income tax returns, a schedule that allows taxpayers to voluntarily provide their racial and ethnicity identifiers. The department of reve...
PA - DOR updates tax compendium
For the taxes that it administers, the Pennsylvania Department of Revenue (DOR) has updated the Pennsylvania Tax Compendium. The compendium is a general guide to Pennsylvania taxes that describes the ...
For the taxes that it administers, the Pennsylvania Department of Revenue (DOR) has updated the Pennsylvania Tax Compendium. The compendium is a general guide to Pennsylvania taxes that describes the ...
RI - Sales of online programs and computer software taxable
An online education courses provider's (taxpayer's) charges for its online programs and computer software were properly subject to Rhode Island sales and use tax as computer courses that taxpayer sold...
An online education courses provider's (taxpayer's) charges for its online programs and computer software were properly subject to Rhode Island sales and use tax as computer courses that taxpayer sold...
SC - Relief announced for taxpayers affected by Hurricane Idalia
In conjunction with the federal tax relief announced by the IRS for taxpayers affected by Hurricane Idalia, South Carolina is postponing until February 15, 2024, certain filing and payment deadlines o...
In conjunction with the federal tax relief announced by the IRS for taxpayers affected by Hurricane Idalia, South Carolina is postponing until February 15, 2024, certain filing and payment deadlines o...
SD - Updated municipal tax guide issued
The South Dakota Department of Revenue has issued a municipal tax guide that provides an introduction to municipal sales, use and gross receipts taxes. The publication also discusses the tax applicabl...
The South Dakota Department of Revenue has issued a municipal tax guide that provides an introduction to municipal sales, use and gross receipts taxes. The publication also discusses the tax applicabl...
TN - Sanitization methods qualified as processing under industrial machinery exemption
A taxpayer who rented hygienically-clean textiles to its customers was entitled to the Tennessee sales and use tax exemption for industrial machinery.Industrial Machinery ExemptionTo qualify for the i...
A taxpayer who rented hygienically-clean textiles to its customers was entitled to the Tennessee sales and use tax exemption for industrial machinery.Industrial Machinery ExemptionTo qualify for the i...
TX - Local tax rate changes announced for Q4
Texas has issued a chart of sales and use tax rate changes that take effect October 1, 2023. The chart includes updated rates for cities and counties. Additionally, dozens of changes occurred to sales...
Texas has issued a chart of sales and use tax rate changes that take effect October 1, 2023. The chart includes updated rates for cities and counties. Additionally, dozens of changes occurred to sales...
UT - Circuit breaker relief denied due to high household income
A Utah taxpayer was not entitled to the circuit breaker property tax relief because the household income of the taxpayers exceeded the statutorily permissible income limit. The taxpayers appealed the ...
A Utah taxpayer was not entitled to the circuit breaker property tax relief because the household income of the taxpayers exceeded the statutorily permissible income limit. The taxpayers appealed the ...
VT - Guidance for alcoholic beverage manufacturers updated
Vermont has updated guidance regarding the application of sales and use tax to transactions engaged in by alcoholic beverage manufacturers. The sales and use tax is imposed, at a 6% tax rate, on alcoh...
Vermont has updated guidance regarding the application of sales and use tax to transactions engaged in by alcoholic beverage manufacturers. The sales and use tax is imposed, at a 6% tax rate, on alcoh...
VA - Event venue operator’s appeal for revision of assessment sustained
An event venue operator (taxpayer), protesting a Virginia sales and use tax assessment issued on the rental of space and certain tangible personal property (TPP), was given an opportunity to provide t...
An event venue operator (taxpayer), protesting a Virginia sales and use tax assessment issued on the rental of space and certain tangible personal property (TPP), was given an opportunity to provide t...
WA - Sales of personalized pet products subject to tax
A pet products retailer’s (taxpayer’s) sales of personalized products such as tags, collars, and leashes were properly subject to Washington manufacturing business and occupation (B&O) tax bec...
A pet products retailer’s (taxpayer’s) sales of personalized products such as tags, collars, and leashes were properly subject to Washington manufacturing business and occupation (B&O) tax bec...
WV - Mercer County commission authorized to levy a special district excise tax
The Mercer County Commission is authorized to levy a West Virginia special district excise tax on sales of tangible personal property and services made from business locations in, and for the benefit ...
The Mercer County Commission is authorized to levy a West Virginia special district excise tax on sales of tangible personal property and services made from business locations in, and for the benefit ...
WI - City of Milwaukee and Milwaukee County certify new sales taxes
The Wisconsin Department of Revenue (DOR) has announced that it received certified ordinances from both the city of Milwaukee and Milwaukee County, regarding their approval of new sales and use taxes ...
The Wisconsin Department of Revenue (DOR) has announced that it received certified ordinances from both the city of Milwaukee and Milwaukee County, regarding their approval of new sales and use taxes ...
WY - Regulations updated
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...
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