Regulatory Analysis
Top Texas politicians are proposing a statewide sales tax rate increase of 1% (from 6.25% to 7.25%) to allow for lower property taxes across the state. The increase would have to be approved both by the legislature and by Texas voters later this year before it could go into effect. If the legislature and Texans approve […]
New Mexico House Bill 6 has been signed into law as Act 270, which changes the definition of “engaging in business” to include persons lacking physical presence in the state (including marketplace providers) who had at least $100,000 of taxable gross receipts in the previous calendar year. Further, where marketplace providers collect tax on behalf […]
As a part of the 2019 Budget address, Zambia’s Ministry of Finance Margaret Mwanakatwe previously announced that the nation was switching from a VAT system to a non-refundable sales tax regime starting on April 1, 2019. Despite this announcement, the Minister of Finance announced at the end of last week that in order to allow for […]
The Colombian Tax Administration (DIAN) issued Resolution 000020/2019 establishing the schedule for complying with the new pre-clearance e-invoicing requirements and for upgrading to UBL schema version 2.1. This new resolution clarifies the confusion generated by previous resolutions as to effective dates. The deadline is defined by two alternate criteria: a) The type of economic activity […]
On March 26, 2019, Governor Matt Bevin of Kentucky signed HB 354 into law. The law requires that marketplace providers collect and remit Kentucky sales tax on all sales that the marketplace provider either makes on its own behalf or facilitates on behalf of its marketplace sellers, provided that certain economic thresholds are met. Marketplace […]
North Dakota now joins several other states in enacting marketplace legislation. Effective October 1, 2019, marketplace facilitators who have either facilitated more than $100,000 in sales or 200 or more separate transactions into North Dakota in the current or prior calendar year will be required to collect North Dakota sales and use tax. Marketplace facilitators […]
West Virginia’s Governor Jim Justice recently signed HB 2813 into law which requires marketplace facilitators and referrers to collect and remit sales and use tax if they have $100,000 in annual gross revenue from sales or at least 200 sales transactions in the state, effective July 1, 2019. Marketplace facilitators will also be required to collect and […]
A new law requiring out of state sellers to collect and remit sales tax has been signed by Governor Gina Raimondo. This law closes loopholes which did not require out of state sellers to register for a permit in the state of Rhode Island and collect sales tax. This change will help minimize losses that Rhode […]
The Municipal Home Rule Pilot Program has become a permanent program in West Virginia after S.B. 4 was signed into law by West Virginia Governor Jim Justice. The Home Rule program will allow municipalities in West Virginia to create revenue streams through the implementation of local sales taxes. The law allows municipalities to enact up […]
Beginning July 1, 2019, Virginia will require remote sellers and marketplace facilitators to collect and remit sales and use tax if they have more than $100,000 in annual gross revenue from sales or at least 200 sales transactions in the state. Marketplace facilitators will also be required to collect and remit sales tax on behalf […]
West Virginia governor Jim Justice recently signed House Bill 2515 into law. The law which is effective June 4, 2019, creates an exemption from sales tax for the sale and installation of mobility enhancing equipment that is installed in a new or used motor vehicle for people with physical disabilities. House Bill 2515 also established […]
South Carolina has issued a revision of its Publication RS-1, Instructions and Specifications for Filing Forms W2. There are no changes to the specifications themselves. However, some addresses have changed: Paper W2s, W2Gs, 1099s, or Extension Request: South Carolina Department of Revenue, PO Box 125, Columbia, SC 29214-0022 CD-ROM: South Carolina Department of Revenue, PO Box […]
The New York Department of Taxation and Finance recently updated their Publication 69, Electronic Reporting of Quarterly Combined Wage and Withholding Tax Information. This publication provides information on regulations and requirements for filing withholding tax information on a quarterly basis, including specifications for electronic transmittals. Updated from a downloadable publication to a web page, there […]
The Kentucky Department of Revenue recently updated Publication 42A003, Withholding Instructions for Employers. This publication provides instructions and withholding guidelines for employers who have filing obligations in Kentucky. This most recent version is an update to a recent version that was released in December 2018, with only one update from the previous version: Section XII, […]
The Kentucky Department of Revenue recently published a new form for correcting information returns called Form K-5C, Corrected report of Kentucky Withholding Statements. This form is used to correct certain information on information returns previously submitted using Form K-5, Employer’s Report of Withholding Tax Statements. Form K-5C can only be filed to correct certain information on […]
Maryland has updated its Form MW506FR, Employer Withholding Final Return Form – which should be submitted with the final employer withholding tax return (MW506 or MW506M) or mailed separately if filing electronically. The only revision to the form is the additional requirement of the last four digits of the employer’s zip code.
The Alabama Department of Revenue recently announced the quarterly interest rate for underpayments and overpayments of withholding taxes for the second quarter of 2019. The interest rate for the first quarter of 2019 was 6% and will remain at 6% for this coming quarter.
North Carolina Governor Roy Cooper signed Senate Bill 56 into law which codifies the North Carolina Department of Revenue directive published in response to the South Dakota v. Wayfair U.S. Supreme Court Decision. The legislation requires remote sellers to collect and remit sales and use tax when the seller, for either the current or previous year, has […]