Regulatory Analysis
The Louisiana Department of Revenue has released its Second Quarter Employer’s Return of Louisiana Withholding Tax Form L1, which is due to the Department by July 31, 2018. Every employer who is required to withhold Louisiana state income tax is required to file this return on a quarterly basis, and the Department releases a new form for […]
The SSA has released its 2018 W-2C Specifications. There are a number of changes from the previous revision: Record Changes A new Box 12 Code GG money field, Originally Reported and Correct Income from Qualified Equity Grants Under Section 83, has been added to the: RCO (Employee Optional) Record in positions 233-243, 244-254 RCU (Total […]
The California Employment Development Department has released an updated Form DE 1245W, E-File and E-Pay Mandate Waiver Request. Filers should use this form to request an exemption from the e-file and e-pay mandate which requires employers to file their employment tax returns, wage reports, and payroll tax deposits electronically. While the form itself has not been […]
Record Changes A new Box 12 Code GG money field, Income from Qualified Equity Grants Under Section 83, has been added to the: RO (Employee Optional) Record in positions 122 – 132 RU (Total Optional) Record in positions 160 – 174 A new Box 12 Code HH money field, Aggregate Deferrals Under Section 83 Elections as […]
The Utah State Tax Commission recently published an updated version of Publication 14, the Utah Withholding Tax Guide. This guide contains information on withholding tax filing information and requirements, along with tax withholding tables to assist employers and businesses with their withholding information reporting obligations. The principal update to Publication 14 involves the Congressional […]
Missouri recently updated their website with Refund Interest Rates for the 3rd quarter of 2018. These interest rates apply to withholding payments and refunds, and change periodically throughout the course of the tax year. The interest rate for refunds has increased to 1.2% for the third quarter of 2018. To review this update […]
The New York State Department of Taxation recently updated their website in relation to state and local government tax exempt bond interest information reporting. This type of reporting is used to report interest and dividend payments made to recipients which are derived from tax exempt sources like state and local government bonds. The updated […]
Idaho has released its 2018 Guide to Idaho Withholding. There are a number of changes from last year’s revision: New tax laws have significantly changes the withholding tables for 2018. The figures are effective for 2018, but filers will not need to adjust the withholding for the months before the tables were published Idaho now […]
The IRS has updated the Instructions for the Requester of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY. There are a number of changes from the previous revision of the Instructions: Chapter 3 Withholding Changes Withholding agents must also withhold under section 1443 on certain payments to foreign tax-exempt organizations that are unrelated business taxable […]
Beginning January 1, 2019, the State of Georgia will require online retailers who meet certain economic thresholds to collect and remit sales tax to the Georgia Department of Revenue. Retailers who: (1) exceed $250,000 in gross revenue from sales of tangible personal property into Georgia in the previous or current calendar year or (2) make 200 […]
Vermont recently published an updated version of Form MTT-600, ACH Credit Processing Guide. These instructions are used by filers to assist in setting up and submitting payments using the ACH Credit system. A number of updates were published in the most recent version of this form, which are as follows: A section was added […]
The Colorado Department of Revenue has revised its publication FYI General 11: Colorado Civil Tax Penalties and Interest. There were no changes to this publication relative to withholding taxes. The only substantive change was an addition to the disclaimer at the end of the publication explaining how to seek additional guidance through a Private Letter […]
The Pennsylvania Department of Revenue updated Form PA-100, the Business Enterprise Registration Form and Instructions. The fee for background investigations of owners or officers has increased from $10 to $22. Additionally, the instructions have added additional clarification for Section 9, "Establishment Employment Information," Part 1. The new information states that "[a]ny payor/lessee required to […]
On April 16, 2018, the European Council approved Italy's derogation request from Articles 218 and 232 of the EU VAT Directive, bringing Italy one step closer to implementing its mandatory e-Invoicing requirement. Article 218 requires that Member States accept invoices in paper or electronic form. Article 232 provides that electronic invoice can only be used […]
The Director of the Dominican Tax Administration (DGII) announced that they will begin implementing an electronic invoicing (e-Invoicing) mandate, with a pilot study kicking off in January 2019. E-invoicing requirements vary from country to country and much of the relevant details on the Dominican approach are yet to be learned. We expect additional details to […]
On April 13, 2018, the Kentucky Legislature voted to override the Governor’s veto of H366. Effective July 1, 2018, this bill makes taxable a wide range of services that were previously exempt. Specifically, the bill revises the definition of “sales price” and “gross receipts” to include the amount charged for labor or services rendered in […]
Wisconsin enacted legislation which creates a one-time sales tax holiday between August 1, 2018 and August 5, 2018. State sales tax will not be charged on certain sales of school supplies where each item is $75 or less, clothing where each item is $75 or less, computers where each item is $750 or less and computer […]
The IRS has released the 2018 Form 1099-PATR and Instructions. Form 1099-PATR is used to report taxable distributions received from cooperatives. Form Changes No changes to the form Instructions Changes The following credits have expired. The cellulosic biofuel fuels credit (including second generation biofuel) (Form 6478). The Indian employment credit (Form 8845). The biodiesel and […]