Regulatory Analysis
In Connecticut, a surcharge is assessed by the Public Utilities Regulatory Authority on all phone lines, including prepaid wireless services, in order to fund E911 services. Each fiscal year the amount of the surcharge is reviewed. Pursuant to Public Utilities Regulatory Authority Docket No. 26-01-05, the surcharge has been increased for prepaid wireless services from $0.69 […]
Norway is proposing to extend the existing VAT exemption for international bulk mail to individual items sent abroad through Posten (Norway’s national postal service). The exemption has historically been unavailable for single items because destination couldn’t be confirmed at the point of sale, but digital receipts now make the necessary documentation possible. If adopted, the […]
Illinois has reinstated its back-to-school sales tax holiday under Public Act 104-0468. From August 7–16, 2026, the state sales tax rate on qualifying clothing under $125 and eligible school supplies drops from 6.25% to 1.25%.
On 1 June 2026, Norway’s parliament approved the amendments to the Bookkeeping Act introducing mandatory B2B e-invoicing and digital bookkeeping requirements for businesses operating in Norway. The amendments establish two key obligations: Mandatory Digital Bookkeeping All bookkeeping-obligated entities must maintain their accounting records using an electronic accounting system. This requirement applies broadly to businesses subject […]
Signed in to law on June 3, 2026, Colorado House Bill 1289 makes numerous tax modifications in the state. Among these items is the repeal the sales and use tax exemption for property used in space flight beginning January 1, 2027, with reinstatement of the exemption beginning January 1, 2030. Additionally, the legislation prohibits local […]
The Massachusetts Department of Revenue updated 830 CMR 62B.2.1, Withholding of Taxes on Wages and Other Payments, effective June 5, 2026. The most significant change affects withholding agents paying compensation to performers. The updated regulation adds a new sentence providing that when a withholding agent’s gross payment to an individual performer exceeds the taxable income […]
The IRS released Internal Revenue Bulletin 2026-24 on June 8, 2026, containing Notice 2026-33, which provides guidance on qualified long-term care distributions under section 334 of the SECURE 2.0 Act of 2022. The provision applies to distributions made after December 29, 2025. The most significant development for information return filers is the introduction of Form […]
The IRS has released its 2026 version of form 1099-NEC. The form reports non-employee compensation. There are a few changes to the form. The preamble to the form has been updated to provide direction on when a form can be reported to the IRS and when it can be issued to a recipient during the […]
The IRS released an update to Publication 1220 (Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498 and W-2G). This publication provides technical specifications and procedures for transmitters and issuers who file information returns electronically through the Filing Information Returns Electronically (FIRE) system. The revision date has been updated to May 2026. […]
The Slovak Ministry of Finance has published a draft amendment to the VAT Act introducing adjustments to the transitional e-invoicing regime set to take effect on 1 January 2027. The changes propose a grace period in the Q1 2027, as well as the removal for the buyer-side digital reporting obligation until July 2030 when the […]
The UK government has announced that Peppol will be the core interoperability network for e-invoicing in the UK. The announcement was made at Tax Update Day 2026 as part of a broader package of tax simplification and modernisation measures. HMRC has indicated that a detailed implementation roadmap will be published alongside Budget 2026, outlining the […]
The IRS has released a revision of Form 1099-K, Payment Card and Third Party Network Transactions, along with updated instructions for use in reporting payments made during calendar year 2026. The most significant development is the permanent return of the third-party settlement organization (TPSO) reporting threshold to its original standard: reporting is required only where […]
The Arkansas Department of Finance and Administration recently announced its quarterly local sales and use tax rate changes, effective July 1, 2026. The local county sales tax rate has decreased in Cross County to 2.125% and in Jackson County to 1.875%. At the city level, the local sales tax rate increased in El Dorado to […]
Massachusetts lawmakers recently set the date for the annual sales tax holiday. The 2026 holiday will take place August 8th and 9th. During the holiday, the state’s 6.25% sales tax is suspended for most retail items priced under $2,500. For more information on the announcement of the annual sales tax holiday in Massachusetts click here.
Austria has passed an amendment to its VAT law imposing a new 4.9% reduced VAT rate on certain essential food items. The new rate will take effect on July 1, 2026. The rate will apply to milk, yogurt, butter, eggs, vegetables, certain fruits, flour, rice, uncooked pasta, bread, and table salt.
Beginning July 1, 2026, nonelectronic school supplies are exempt from sales tax in Connecticut (CT) when purchased for a nonbusiness purpose. See Public Act No. 26-68. The Act originally included this language: “such as backpacks, lunchboxes, notebooks, pens and pencils, crayons, rulers and paper.” However, CT recently passed Public Act No. 26-76, which removed the reference […]
The National Meeting of State Tax Coordinators and Administrators (Encat) recently published Technical Note 2026.001, which addresses the connection between electronic fiscal documents (DF-e) and payment information, in the context of the future implementation of the split payment model outlined in the Tax Reform. The Technical Note effectively introduced a technical adjustment to the layout […]
Colorado House Bill 1289 temporarily suspends the sales and use tax exemption for property used in space flight, starting January 1, 2027 through December 31, 2029. Beginning January 1, 2030, the exemption will be reinstated to its original scope.More information may be found here.