Regulatory Analysis
South Carolina recently released its RS-1, the W2 and 1099 Filing Instructions and Specifications for 2023. There are a few notable changes this year, the most important of which is that South Carolina no longer accepts CD ROM for filing W-2 or 1099 files. Additionally, the cutoff limit for paper filing has been reduced from […]
12/14/2023 The Colorado Department of Revenue recently published local sales and use tax changes. Mineral County, Colorado repealed its 2% use tax on building materials effective January 1, 2024. Further information may be found here.
12/14/2024 Loveland, Colorado approved ballot Question 300 which amends the Loveland City Charter to remove the imposition of sales tax on food for home consumption beginning January 1, 2024. Further information may be found here.
12/14/2024 The Colorado Department of Revenue published local sales and use tax changes effective January 1, 2024. The following state-administered local sales tax rates have changed: City: Cripple Creek Eaton La Junta Romeo Yampa Further information may be found here.
12/12/2023 As a part of the Ohio 2023-2024 budget bill, H.B. 33, the state will transition to a “Next Generation (NG) 9-1-1 system” beginning January 1, 2024. This transition includes an increase in the 9-1-1 access fee for wireless telephone subscribers from $0.25 to $0.40 for the period of January 2, 2024, through September 30, […]
12/8/2023 Pursuant to Senate Bill 56, Georgia sales tax now applies to the sale of specified digital products, other digital goods, or digital codes sold to an end user, provided that such end user receives or will receive the right of permanent use of product, goods or codes and the transaction is not conditioned upon […]
12/7/2023 Starting January 1, 2024, Delaware will impose a new $0.60 surcharge on the retail sale of communication services that are capable of allowing a consumer to make an outbound communication to the 988 Lifeline.
12/5/2023 Effective January 1, 2024, the Connecticut Bottle Deposit Fee will increase to 10 cents per container. Further information may be found here.
Beginning with tax year 2023, Colorado law requires employers to provide all employees with an annual notice of Earned Income Tax Credits and Child Income Tax Credits. This week, the Colorado Department of Revenue released criteria that employers must follow when providing the EITC/ CITC notice to employees. Notice may be printed or sent electronically. If […]
12/1/2023 Effective January 1, 2024, the Colorado prepaid wireless charge on retail sales of prepaid wireless telecommunication services will be adjusted to $1.88 for the 911 charge and $0.14 for the 988 charge. Further information may be found here.
12/1/2023 Effective January 1, 2024, the Colorado Waste Tire Fee on the sale of new motor vehicle and trailer tires will decrease to $0.55 from $1.25. Further information may be found here.
12/1/2023 For the first time, a Florida Back to School Sales Tax Holiday will occur outside of the summer months. Under HB 7063, this Back-to-School Sales Tax Holiday will begin January 1, 2024, and end January 14, 2024. Exempt items include learning aids and jigsaw puzzles selling for $30 or less per item, certain school […]
12/1/2023 Beginning on January 1, 2024, Oregon will impose a new 988 tax on telecommunication services. The tax is $0.40 per transaction and applies to the same services or products as Oregon’s current E911 tax. More information on the tax can be found here.
Today, the IRS announced in Notice 2023-74 that it will again delay the implementation of the $600 1099-K reporting threshold for third party settlement organizations. For tax year 2023 transactions reported in 2024, the old threshold of $20,000 and 200 transactions will apply. The IRS also announced that tax year 2024 will be a ‘phase […]
11/20/2023 The City of Lone Tree, Colorado sales and use tax rate will decrease from 2.8125% to 2.5% on December 1, 2023. Further information may be found here.
This is to advise that the Oregon House Bill was enacted on 7/13/23. The new law becomes effective on 1/1/24. This law focuses on due diligence, securities, and abandonment presumptions and provides detailed updates to the current legislation. This law enacts changes in the following areas: Definitions: A new definition of Security A new definition […]
Missouri has released “Missouri Employer Reporting of W-2s Instructions and Specifications Handbook.” The document provides direction on how to prepare and file electronic W-2 records with the state. The document has change significantly in presentation, however the electronic specifications for filing W-2s with the state has not changed. Missouri generally follows the federal standard but […]
South Carolina imposes an additional tax on certain vehicles, including cars, aircraft, and boats, called the “Max Tax”. The Max Tax rate is 5% of the total purchase price, not to exceed a maximum of $500. As a result of a decision from the South Carolina Court of Appeals, the South Carolina Department of Revenue […]