Regulatory Analysis
Minnesota’s new Retail Delivery Fee, the “Road Improvement and Food Delivery Fee,” takes effect July 1, 2024. Retailers will be subject to a $0.50 fee on certain transactions that are $100 or more and involve a “retail delivery” in Minnesota. This includes retail deliveries of taxable tangible goods, as well as retail deliveries of clothing. […]
The North Dakota Office of State Tax Commissioner recently announced local tax changes effective July 1, 2024. Such changes include a sales tax rate increase in the City of Mapleton and removal of the maximum tax cap, as well as a sales tax rate increase in the City of Rolla. More information may be found […]
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. 24-10-05, the surcharge has been increased for prepaid wireless services from $0.68 […]
The Colorado Department of Revenue published local sales and use tax changes effective July 1, 2024. Such changes include rate increases for the cities of Dolores, Garden City, Lyons, and South Fork. The city of Deer Trail will begin imposing sales and use tax at a rate of 1.75%. Additionally, the City of Wiley will […]
The state of Colorado provides a sales and use tax exemption for period and incontinence products at the state level which may be adopted by state-administered locals. As such, the state-administered local of Eagle County has adopted the exemption under Resolution 2024-023, effective July 1, 2024. The Town of Avon, a self-administered local, has similarly […]
The Ohio Department of Taxation announced the state will have an expanded sales tax holiday from July 30 through August 8, 2024. During the holiday period, all goods that are $500 or less except for certain watercraft, motor vehicles, alcoholic beverages, tobacco, vapor products, or any item that contains marijuana will be exempt from sales […]
Minnesota decreased their E-911/Telecommunications Access fee from $0.84 to $0.83, effective July 1, 2024. For more information please refer to the Minnesota Prepaid Wireless E911 and TAM Fees Sales Tax Fact Sheet 179.
On May 13, 2024, South Carolina Governor McMaster signed into law House Bill 3563. This legislation created a sales tax exemption for feminine hygiene products, to take effect upon signing. Feminine hygiene products are defined as tampons, sanitary napkins, and other similar personal care items for use in connection with the menstrual cycle. The complete […]
Virginia’s Governor recently signed House Bill 25 into law. The legislation extends the provisions for the annual tax-free weekend to another five years to July 1, 2030. Further information may be found here.
Colorado recently enacted SB 25 which revises separate statutes governing local sales and use tax administration by the state into a single statute. Among the unification adjustments, the legislation requires local governments which make changes to their sales and use taxes to provide the Colorado Department of Revenue (DOR) written notice ahead of the change. […]
The IRS recently released a draft version of the long and highly anticipated Form 1099-DA, Digital Asset Proceeds From Broker Transactions. The form will be used for reporting proceeds from (and in some cases, basis for) digital asset dispositions to the IRS and recipients. The form treats digital assets such as cryptocurrency, similarly to stocks, […]
On January 1, 2024, Oregon law began requiring reporting of newly hired or reengaged independent contractors. From January to March 2024, the Oregon Child Support Program rolled out a ‘Soft Launch’ of the reporting requirements. In April 2024, the Oregon Child Support Program ended the soft launch and officially began requiring employers and payers who engage or reengage independent contractors […]
The IRS recently updated the Instructions for Form 1098-Q. The updated instructions include a note to use them with the December 2019 revision of the form. There have been several significant updates. First, the dollar limitation on premiums increased to $200,000 and is no longer limited to 25% of the individual’s retirement account balance. The dollar […]
The IRS recently released its 2024 Instructions for Forms 1099-SA and 5498-SA. These instructions cover reporting of distributions from an HSA, Archer MSA, or Medicare Advantage MSA, and HSA, Archer MSA, or Medicare Advantage MSA Information. Both forms and the instructions are part of the IRS Continuous Use set, which means that these forms and […]
Colorado imposes a retail delivery fee on all deliveries by motor vehicle in the state with at least one item of tangible personal property subject to state sales or use tax in the order. The fee amount may be adjusted for inflation each year. For the period of July 2024 to June 2025, the total […]
Colorado imposes a Daily Vehicle Rental Fee on motor vehicle rentals 30 days or less and certain car sharing rentals. The rate may adjust for inflation each year. For the period of July 2024 to June 2025, the fee amount will increase to $2.23 from $2.13. Further information concerning the fee may be found here.
Maryland will waive penalties and interest for late withholding for Maryland businesses from January 1 to May 31, 2024, in the wake the Key Bridge collapse. Provided payments are made by May 31, 2024, any late payments during that period will not be subject to late penalties or interest. The waiver is automatic and applies to […]
The IRS recently released its 2024 Instructions for Form 1099-B, the form for reporting proceeds from broker and barter exchange transactions. The updates to the instructions were primarily editorial in nature, including removing references to the yearly General Instructions for Certain Information Returns and replacing them with references to the “current” year, and replacing some […]