Tax Alerts
Tax Briefing(s)
2024 Tax Policies of the Major Presidential Candidates2024 Post-Filing Season Update(Proposed) Tax Relief for American Families and Workers Act of 2024 (Passed by House, January 31, 20
IRS Urges Taxpayers to Perform End-of-Summer Tax Checkup, IR-2024-225
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 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...
Changes Under SECURE 2.0 Act to Affect Amounts Report by Businesses on Forms W-2, FS-2024-29
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 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...
IRS Urges Tax Professionals to Strengthen Security Measures Against Rising Threats, IR-2024-224
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 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...
IRS Reminds Employers to Use Educational Assistance Programs for Student Loan Payments Until 2025, IR-2024-227
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 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...
IRS Updates Premium Tax Credit Table, Required Contribution Percentage, Rev. Proc. 2024-35
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 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...
AL - Department of revenue to collect Calhoun County tobacco taxes
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 ...
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 ...
AK - Integrated transmission systems legislation enacted
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...
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...
AZ - Local residential rental tax eliminated
The city transaction privilege tax (TPT) in Arizona is eliminated beginning on January 1, 2025. Residential property owners will no longer need to collect city TPT on income from long-term rentals of ...
The city transaction privilege tax (TPT) in Arizona is eliminated beginning on January 1, 2025. Residential property owners will no longer need to collect city TPT on income from long-term rentals of ...
AR - Local tax rate changes announced
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 ...
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 ...
CA - Extensions available for employers affected by land fire
Employers in San Bernardino County who are directly affected by the Land Fire may request up to a two-month extension to file their state payroll reports and/or deposit payroll taxes without penalty o...
Employers in San Bernardino County who are directly affected by the Land Fire may request up to a two-month extension to file their state payroll reports and/or deposit payroll taxes without penalty o...
CO - Board’s Order Reversed for Excluding Resort Fees from Taxpayer’s Valuation
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...
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...
CT - Tax relief provided for taxpayers impacted by rainfall and flooding of august 18, 2024
Guidance is provided on relief available to taxpayers who are unable to timely file certain returns or make certain payments as a direct result of historic rainfall and associated flooding that occurr...
Guidance is provided on relief available to taxpayers who are unable to timely file certain returns or make certain payments as a direct result of historic rainfall and associated flooding that occurr...
DE - Unclaimed property reporting requirements amended
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...
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...
DC - Applicability of purchase money exemption for security interest instruments discussed
For miscellaneous tax purposes, the District of Columbia Office of Tax and Revenue (OTR) issued a notice discussing the applicability of purchase money exemption for security interest instruments. The...
For miscellaneous tax purposes, the District of Columbia Office of Tax and Revenue (OTR) issued a notice discussing the applicability of purchase money exemption for security interest instruments. The...
FL - Hillsborough County sales surtax refund announced
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...
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...
GA - Income approach inapplicable in valuation of section 42 properties, section 42 tax credits must be included in valuation
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...
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...
HI - Pass-through entity tax guidance updated, notice of proposed temporary rules provided
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 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...
ID - Disabled veterans are eligible to apply for property tax benefit; deadline is April 15
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...
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...
IL - Hotel operators’ occupation tax FAQS updated
Illinois updated a publication that provides answers to frequently asked questions (FAQs) on the hotel operators' occupation tax, including:business registration requirements and proceduresreporting r...
Illinois updated a publication that provides answers to frequently asked questions (FAQs) on the hotel operators' occupation tax, including:business registration requirements and proceduresreporting r...
IN - Updated guidance issued on internal revenue code provisions not followed by Indiana
Updated guidance is issued on Internal Revenue Code provisions not followed by Indiana for corporation and personal income tax purposes. Information Bulletin #119, Indiana Department of Revenue, Sept...
Updated guidance is issued on Internal Revenue Code provisions not followed by Indiana for corporation and personal income tax purposes. Information Bulletin #119, Indiana Department of Revenue, Sept...
IA - Data center business sales tax exemption scenarios discussed
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...
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...
KS - Guidance on changes to pass-through entity tax issued
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...
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...
KY - Standard deduction for 2025 tax year announced
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...
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...
LA - Filing, payment extensions allowed for hurricane francine victims
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...
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...
ME - Guidance issued on mandatory seller registration
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...
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...
MD - New tax rates for cigarettes, other tobacco products, and electronic smoking devices released
For sales and use tax purposes, the Comptroller of Maryland issued a tax alert discussing the taxability of cigarettes, other tobacco products (OTP), and electronic smoking devices (ESD). The tax aler...
For sales and use tax purposes, the Comptroller of Maryland issued a tax alert discussing the taxability of cigarettes, other tobacco products (OTP), and electronic smoking devices (ESD). The tax aler...
MA - Bank holding company allowed to claim research expense credit
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...
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...
MI - Prepaid fuel tax rates announced
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...
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...
MN - Revocation of homestead classification affirmed
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...
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...
MS - Disaster relief for taxpayers explained
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...
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...
MO - Local tax rate changes announced
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...
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...
MT - Governor encourages property tax rebate applications
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...
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...
NE - Reminder issued on real property, agricultural land tax credits, and school district property tax relief 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 - Regulations for nonprofit organizations exemption updated
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...
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...
NH - Interest rates increase
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 ...
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 ...
NJ - Intoxicating hemp beverages taxable
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 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...
NM - Filing extension expanded again for taxpayers affected by south fork and salt fire
The New Mexico Taxation and Revenue Department has expanded again the filing extensions it made available for taxpayers affected by the South Fork and Salt fires disaster. Taxpayers affected by the di...
The New Mexico Taxation and Revenue Department has expanded again the filing extensions it made available for taxpayers affected by the South Fork and Salt fires disaster. Taxpayers affected by the di...
NY - Authorization for city of white plains to impose occupancy tax extended
Authorization for the city of White Plains to impose a local New York occupancy tax at the rate of 3% is extended until December 31, 2027. Previously, the authorization was scheduled to expire on Dece...
Authorization for the city of White Plains to impose a local New York occupancy tax at the rate of 3% is extended until December 31, 2027. Previously, the authorization was scheduled to expire on Dece...
NC - Taxpayer’s petition barred by state’s sovereign immunity
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...
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...
ND - Local tax changes announced
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...
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...
OH - 2024 fourth quarter PAT average wholesale prices released
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...
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...
OK - Changes to parental choice credit program discussed
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 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...
OR - Preschool for all personal income tax rate increase delayed
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...
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...
PA - 2024 income increase for property tax/rent rebate program
Last year, Pennsylvania Gov. Josh Shapiro expanded the Property Tax/Rent Rebate program. Applicants of the program must fall under one of the previous categories to qualify: Pennsylvanians age 65 and ...
Last year, Pennsylvania Gov. Josh Shapiro expanded the Property Tax/Rent Rebate program. Applicants of the program must fall under one of the previous categories to qualify: Pennsylvanians age 65 and ...
RI - Dealers issued notice regarding cigarette tax increase
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...
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...
SC - Bank's gains from stock sale not apportionable
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...
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...
SD - Guidance on taxability of motor vehicle leases and rentals updated
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...
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...
TN - Taxpayer's purchase of streetlights and related equipment on behalf of public utility was exempt
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...
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...
TX - May - July 2024 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 periods May, June and July 2024.May 2024The average taxable price of crude oil for the ...
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting periods May, June and July 2024.May 2024The average taxable price of crude oil for the ...
UT - Denial of exemption upheld as taxpayer’s facility was not used for charitable purposes
The Utah Supreme Court affirmed the Tax Commission’s denial of a property tax exemption for the taxpayer’s facility because market-rate testing was not a charitable use. The taxpayer, a research a...
The Utah Supreme Court affirmed the Tax Commission’s denial of a property tax exemption for the taxpayer’s facility because market-rate testing was not a charitable use. The taxpayer, a research a...
VT - Guidance for florists updated
Vermont has updated a fact sheet that provides guidance on the unique sales tax situations for florists and similar businesses operating in the state. The fact sheet states that even if sellers sell f...
Vermont has updated a fact sheet that provides guidance on the unique sales tax situations for florists and similar businesses operating in the state. The fact sheet states that even if sellers sell f...
VA - Interest rates unchanged for fourth quarter of 2024
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...
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...
WA - Personal income tax imposition prohibited
The Washington legislature has enacted Initiative 2111 which prohibits the state and any county, city, or local jurisdiction from imposing a tax on personal income. Ch.5 (WA IL 2111), Laws 2024, effec...
The Washington legislature has enacted Initiative 2111 which prohibits the state and any county, city, or local jurisdiction from imposing a tax on personal income. Ch.5 (WA IL 2111), Laws 2024, effec...
WV - Gov. demands special session on tax cuts, childcare credit
West Virginia Gov. Jim Justice demanded a second special session of the legislature to consider his proposals for:a 5% personal income tax rate cut; anda childcare tax credit.Press Release, Office of ...
West Virginia Gov. Jim Justice demanded a second special session of the legislature to consider his proposals for:a 5% personal income tax rate cut; anda childcare tax credit.Press Release, Office of ...
WI - Full-year residency required for tax credits
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,...
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,...
WY - SST taxability matrix and certificate of compliance updated
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...
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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