Regulatory Analysis
The Manitoba legislature recently passed Bill 53, which among other provisions, broadens the scope of food subject to exemption from the Retail Sales Tax (RST) effective July 1, 2026. With the bill’s passage, most food items are exempt, so long as they are not sold by restaurants, licensed premises specified in a liquor service license, […]
The Internal Revenue Service has revised Form 8508 (Rev. 5-2026), Application for a Waiver from Electronic Filing of Information Returns. The form is used to request a waiver from the electronic filing requirement for a range of information returns filed through the FIRE and IRIS systems. The only substantive change is to the list of […]
The IRS has released its 2026 edition of Form 15397, the Application for Extension of Time to Furnish Recipient Statements. This form permits filers of tax information returns to request extensions for issuing statements to recipients. The form covers W-2, W-2G, 1042-S, 1095, 1097, 1098, 1099, 3921, 3922, and 5498 returns, including subdivisions of those […]
Randolph County, West Virginia has recently imposed a Special Emergency Ambulance Service Fee of 0.4% to be collected by all businesses in Randolph County that collect sales tax. There is an exemption for any single item purchased for a price that exceeds $10,000. Payments of this fee are to be made to the Randolph County […]
Most Canadian provinces impose environmental handling fees on certain electronic waste through the Electronic Products Recycling Association (EPRA). Beginning June 1, the categories for Display Devices Steward fees will expand from “Display Devices ≥ 46″ and All-in-One” to “Display Devices 46-64″ and All-in-One” and “Display Devices ≥ 65” and All-in-One”. As a result, businesses will […]
Effective July 1, 2026, Maryland will restore the sales tax exemption for precious metal bullion and coins with a sales price greater than $1,000. Previously, Maryland adjusted statute language so that only those purchases of bullion made at the Baltimore Convention Center were exempt. This requirement is no longer in place. Find more information here.
The National Association of Unclaimed Property Administrators (NAUPA) has reached out to the Unclaimed Property Professionals Organization to provide an update on the proposed transition to the NAUPA III format. In its update, NAUPA advises that the transition will now be accomplished in phases starting in the Spring of 2027. The full text of the […]
North Carolina House Bill 1029 was introduced on April 22, 2026, and amended on May 12, 2026. Titled the Digital Asset and Stablecoin Act, the bill provides detailed requirements for entering the digital asset business in North Carolina. Embedded within the Act are amendments to the unclaimed property act relating to unclaimed digital assets as […]
Vermont’s Department of Taxes has announced via email newsletter that it intends to accept 1099 filings in the new IRIS XML format promulgated by the IRS to replace the existing FIRE fixed-length reporting format. The Department will begin accepting records in the IRIS format in December, 2026. While the Department has not yet provided technical filing […]
California Governor Newsom’s new budget proposal would impose sales tax on electronically delivered software (cloud-based and downloaded). If approved by the legislature, the change would go into effect January 1, 2027. Currently, California sales tax generally only applies to software when it is prewritten and sold on tangible medium. More information can be found here.
The IRS has recently released Form 1099-MISC (Miscellaneous Information) for tax year 2026 (filing season 2027). This form is used to report miscellaneous income such as rents, royalties, prizes, awards, medical and health care payments, and other income payments. The payer and recipient information sections have been restructured, with the payer’s information separated from a […]
Effective July 1, 2026, South Tucson, Arizona passed Ordinance 26-01, decreasing the tax rate on food for home consumption from 1.5% to 0% More information may be found here.
VA § 58.1-609.1 (19) exempts gold, silver, or platinum bullion, as well as legal tender coins from sales tax. This exemption was set to expire June 30, 2025 and VA HB 1600 extended the expiration to June 30, 2026. At this time, Virginia has not extended the exemption further. Therefore, Virginia will begin taxing these […]
On May 12, 2026, Maryland enacted emergency legislation addressing penny rounding on cash transactions. The language details that if the price ends in 1 cent, 2 cents, 6 cents, or 7 cents, a business should round down to the nearest nickel. If the price ends in 3 cents, 4 cents, 8 cents, or 9 cents, […]
On May 12, 2026, Maryland enacted House Bill 898. The legislation provides an exemption for certain data and information technology (IT) services, software publishing services, digital codes, and digital products if both the vendor and the buyer are members of the same affiliated group within the meaning of §1504 of the Internal Revenue Code. The […]
Massachusetts recently published Directive 26-1, which provides guidance on how sales tax must be calculated following the elimination of the penny. With the U.S. Treasury minting its last penny on November 12, 2025, vendors have begun rounding cash transactions to the nearest nickel. However, vendors are required to calculate and remit sales tax based on […]
Effective May 1, 2026, Williamsburg County, South Carolina is imposing a 1% Capital Projects Tax. Certain food sales are exempted from the tax. You may find more information here.
Effective July 1, 2026, 56 municipalities and 3 counties in Illinois will begin imposing the 1% grocery tax. This follows the more than 600 localities that began imposing the grocery tax on January 1, 2026. More information can be found here.