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The IRS has urged taxpayers to conduct an end-of-summer tax checkup to avoid unexpected tax bills in the upcoming year. The agency emphasized that many taxpayers, particularly those engaged in the gig...
The IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. The provisions potentially affecting Form...
The IRS and the Security Summit concluded their eight-week summer awareness campaign by urging tax professionals to implement stronger security measures to protect themselves and their clients from es...
The IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until December 31, 2025. This option, available since March 27, 2020, allows fun...
The IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage for plan years beginning in calendar year 2025. This per...
The Alabama Department of Revenue has issued a notice that effective October 1, 2024, cigarette tax must be collected by affixing the appropriate Calhoun County tobacco revenue stamp to all cigarette ...
Alaska has enacted legislation creating new energy incentives by extending tax-exempt statutes to independent power producers. An electricity generation facility or electricity storage facility that i...
For the fourth quarter of 2024, the interest rate on the underpayment and overpayment of Arizona taxes is unchanged at 8%. The rate has been set at 8% since October 1, 2023. Interest Rates, Arizona De...
The following Arkansas local sales tax rate changes are effective October 1, 2024:The city of Carthage imposes a sales and use tax at a rate of 1.5%.The city of Pine Bluff decreases its sales and use ...
Tribal Housing Grant Program Fund Advisory Committee members will not be subject to California income tax on the per diem and expense reimbursement payments they receive in connection with the perform...
For Colorado property for tax purposes, the Board of Assessment Appeals’ (Board’s) order was reversed and remanded with directions to include the $197,407 in resort fees in the taxpayer’s valuat...
Updated guidance is provided, in light of guidance issued by the Internal Revenue Service (IRS), on relief available to taxpayers who are unable to timely file certain returns or make certain payments...
Delaware enacted legislation that amends unclaimed property reporting requirements to:clarify enforcement actions by the Attorney General, including a 120-day notice period and other conditions before...
The District of Columbia has announced upcoming tax rate changes for cigarettes and other tobacco products.What are the rate changes?Effective October 1, 2024, the total tax on a package of 20 cigaret...
Hillsborough County residents and non-residents who can verify taxable expenditures with receipts or other documentation will receive compensation equal to the amount of their Florida sales surtax pay...
For Georgia property tax purposes, the tax assessors must not use the income approach in determining the fair market value of section 42 properties and the low-income housing tax credits must not be e...
The Hawaii Department of Taxation has issued updated guidance on the Hawaii pass-through entity (PTE) tax to reflect changes made by Act 50 (S.B. 2725), Laws 2024. The guidance replaces and supersedes...
The Idaho State Tax Commission has issued a release announcing that veterans with disabilities are eligible to have their property tax bill reduced by as much as $1,500 on their Idaho residence and up...
Illinois issued guidance on the new prepaid wireless E911 surcharge rate imposed by Chicago on sales of prepaid wireless telecommunications services. Effective November 1, 2024, the rate will increase...
Updated guidance is issued regarding the determination of the correct amount of Indiana county income tax to withhold from an employee's wages. The updated rates in the notice are effective for withho...
The Iowa Department of Revenue discusses eligibility for data center business tax exemptions. The update offers clarification on how lease agreements factor into the eligibility criteria. Specifically...
Kansas issued guidance for S corporations and partnerships on legislative amendments to elective pass-through entity tax provisions, otherwise known as the SALT Parity Act. The legislation included si...
Kentucky announced that the personal income tax standard deduction for the 2025 tax year is $3,270. Press Release, Kentucky Department of Revenue, August 20, 2024...
The Louisiana Department of Revenue has granted filing and payment extensions to all taxpayers located in the federally declared disaster area and affected by Hurricane Francine. All 64 Louisiana pari...
Maine has issued guidance outlining mandatory sales and use tax seller registration for :sellers with a place of business, a lease of personal property, or other substantial physical presence in Maine...
Despite confusion as to whether Maryland taxpayers may claim the Foreign Earned Income Exclusion on personal income tax returns, the Maryland Tax Court could not decide the issue in this case because ...
A bank holding company under the Bank Holding Company Act of 1956 properly claimed Massachusetts research tax credits, as the applicable Massachusetts state tax law does not prohibit bank holding comp...
The Michigan prepaid sales tax rate for fuel is decreased to 18.2 cents per gallon for the period of October 1, 2024 through October 31, 2024. The rate for diesel fuel is decreased to 20.0 cents per g...
For Minnesota property tax purposes, the revocation of the homestead classification of the taxpayer's property was affirmed because she failed to meet the burden of proving that her property was occup...
Massachusetts updated guidance that explains tax relief resulting from a federal disaster declaration for areas in the state, including automatic return filing and payment extensions for:personal inco...
The following local Missouri sales and use tax rate changes take effect October 1, 2024. Also, new rates are listed for each county, city, and special district affected by the rate changes.County Chan...
Montana Gov. Greg Gianforte encourages Montana homeowners to apply for their property tax rebate. Between August 15 and October 1, 2024, eligible Montana homeowners may claim their property tax rebate...
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...
Nevada has amended the regulation relating to the tax exemption status of nonprofit organizations created for religious, charitable or educational purposes. Specifically, it outlines that the exemptio...
Interest rates on underpayments and refunds will increase for 2025.For 2025, rates are:10% for underpayments; and7% for refunds.Technical Information Release TIR #2024-02, New Hampshire Department of ...
New Jersey is requiring that any sale of an intoxicating hemp beverage by a holder of a plenary retail distribution liquor license or plenary wholesale license is subject to:the sales tax imposed on c...
New Mexico has adopted regulations regarding the newly-created clean car income tax credits against its personal and corporate income taxes. The regulations state the application procedures for the cr...
The New York Department of Taxation and Finance has issued a sales and use tax advisory opinion concerning a certain chocolate-covered marshmallow twist (product). The taxpayer, a customer that occasi...
A taxpayer’s petition challenging a North Carolina sales and use tax assessment was barred by the doctrine of sovereign immunity because the petition was untimely filed. In this matter, the taxpayer...
North Dakota has announced upcoming sales and use tax rate changes that are effective October 1, 2024.Burleigh CountyBurleigh County will increase its sales, use and gross receipts tax to 1% (currentl...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2024.The average prices per gallon for the third quarter are:$2.365 for unleaded regular...
The Oklahoma Tax Commission is preparing to conduct the Parental Choice Tax Credit program for the 2025-2026 school year. Pursuant to H.B. 3388, laws 2024, the program's rules are amended as follows:t...
The planned Multnomah County Preschool for All Personal Income Tax rate increase scheduled to occur January 1, 2026 will now happen January 1, 2027. The existing rate will increase by 0.8%. Ord. No. 1...
Pennsylvania has provided notice that the Public Utility Realty Tax Act (PURTA) surcharge calculation for tax years beginning January 1, 2025 is 0 mills. No PURTA surcharge will be imposed for the tax...
The Rhode Island Division of Taxation has issued a notice to cigarette dealers regarding an increase in the cigarette tax. The new rate of 225 mills per cigarette increases the tax from $4.25 per pack...
On reconsideration following a previous decision that upheld a South Carolina bank tax assessment, the administrative law court concluded that certain credit card company stock was not connected to th...
The South Dakota Department of Revenue has updated a tax facts sheet discussing the applicability of state and local sales and use tax to motor vehicle leases and rentals. The facts sheet discusses, a...
A taxpayer’s purchase and installation of streetlights, photocells, smart nodes, and poles on behalf of public power authorities was not subject to Tennessee sales and use tax.Component Part of Elec...
The Texas Comptroller has issued revised guidance regarding the Texas franchise tax exemption for new veteran-owned businesses. The Texas Legislature reinstated this exemption effective January 1, 202...
For Utah personal income tax purposes, the taxpayers were domiciled in Utah for the tax years 2019 and 2020 because they failed to prove that the taxpayer-husband was not domiciled in Utah. The taxpay...
The Vermont motor fuel transportation infrastructure assessment (MFTIA) rate for the fourth quarter of 2024 (October to December 2024) is $0.0587, and the motor fuel tax assessment (MFTA) rate is $0.1...
The Virginia interest rates for the fourth quarter of 2024 will be 10% for tax underpayments (assessments) and 10% for tax overpayments (refunds). For the purpose of computing, the addition for underp...
A Washington manufacturer (taxpayer) was not eligible to claim sales and use tax exemption for the machinery and equipment used at its warehouse because the activities at the warehouse did not qualify...
West Virginia updated a publication that provides guidance on sales and use tax exemptions, including:"per se" exemptions that do not require a separate document for proof of the exempt status;refunda...
In a Wisconsin income tax case, the Tax Appeals Commission found that where a taxpayer and her family are approved by United States Citizenship and Immigration Services for refugee status in one year,...
Wyoming updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2024. Taxability Matrix: Tax Administration Pract...
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