Regulatory Analysis
North Dakota recently enacted HB 1139, which provides a sales tax exemption for gross receipts from sales made to fire departments. The legislation is effective beginning July 1, 2025.
At the close of 2024, New Jersey unveiled a plan to modernize its electronic tax systems through a multi-phased implementation of the new NJ Tax Portal. The NJ Tax Portal will serve as a comprehensive, stand-alone application encompassing all tax types once fully rolled out. The state recently provided key details and deadlines for Phase […]
New York recently released the new and improved version of NYS-45 (Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return). The updated form must be used for all quarterly starting on or after March 1, 2025. The updated form reflects significant changes to New York’s withholding requirements that were implemented in March 2025. Under the […]
Arkansas recently passed HB 1685 which removes the state sales tax on food and food ingredients effective January 1, 2026. Local level sales tax will continue to apply in Arkansas. More information on this upcoming change can be found here.
The Washington legislature is considering major changes to its sales tax laws. Senate Bill 5814, which passed the Senate on April 19th, is currently under consideration in the House of Representatives. The bill would expand the scope of services and software that are subject to sales tax. If passed, both sales tax and B&O tax […]
Beginning on July 1, 2025, Utah will modify its economic nexus laws by removing the transaction threshold for remote sellers and marketplace facilitators. Currently, remote sellers and marketplace facilitators are required to collect and remit Utah sales tax if they have more than $100,000 in gross revenue from sales into Utah or made 200 or […]
Beginning on July 1, 2025, Utah will modify its economic nexus laws by removing the transaction threshold for remote sellers and marketplace facilitators. Currently, remote sellers and marketplace facilitators are required to collect and remit Utah sales tax if they have more than $100,000 in gross revenue from sales into Utah or made 200 or […]
The Kentucky Department of Revenue recently updated its withholding resources to reflect several notable changes for 2025. Most significantly, a new online system has been introduced: the MyTaxes portal. This portal will replace the outdated WRAPS system. Furthermore, MyTaxes portal now accepts electronic submissions of both original and corrected Forms W-2G and 1099 whereas previously […]
The IRS recently released an updated version of Form 1099-MISC, which is used to report a multitude of payment types including rents, royalties, attorney payments, and other income payment types. Beginning with tax year 2025, the excess golden parachute payments will no longer be reported in Box 14 of Form 1099-MISC, but instead in Box […]
On April 10, 2025, President Donald Trump signed House Joint Resolution 25 (H.J. Res. 25) into law, officially nullifying an IRS rule that sought to impose stringent tax reporting requirements on decentralized finance (DeFi) platforms. DeFi platforms are platforms and services that facilitate digital asset transactions without taking custody of assets. The IRS DeFi regulations, “Gross […]
The Colorado Department of Revenue has recently issued Colorado General Information Letter No. GIL-25-002, 02/10/2025 which provides that fees charged for electric vehicle charging are exempt from sales tax as discrete, one-time sales of electricity that do not constitute an “electric service.”
The IRS recently released an updated version of Form 1099-Q (Payments from Qualified Education Programs). This form is used to report distributions from qualified tuition programs (QTPs) under section 529 and Coverdell education savings accounts (CESAs) under section 530. Most notably, a new checkbox has been added to Box 4 and labeled 4b for reporting […]
Effective April 2, 2025, Texas updated Rule §3.330 which expands the definition of “data processing service” which represents the computerized entry, retrieval, search, compilation, manipulation, or storage of data or information. The definitional change largely represents a codification of less formally published rules and requirements. In addition, effective October 1, 2025, marketplace provider services may […]
The Kentucky Legislature recently passed HB 2, which was initially vetoed (in full) by the Governor on March 25, 2025 but was successfully overridden on March 27, 2025. Effectively, a broad-based exemption for bullion and currency now exists under HB 8 (2024) with a retroactive effective date of August 1, 2024. The Kentucky Department of […]
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 2025 to June 2026, the fee amount will increase to $5.23 from $5.34. Further information concerning the fee may be found here.
Virginia recently enacted HB 2675 & SB 871, which extends the Virginia sales tax exemption for certain advertisers that purchase print materials in Virginia, distribute the materials outside the state, and meet other specified requirements through July 1, 2028. Previously, the exemption was set to expire July 1, 2025.
Virginia recently enacted SB 1369 & HB 1698, which extends the Virginia sales tax exemption for prescriptions medicines purchased, administered, or dispensed by veterinarians through July 1, 2028. Previously, the exemption was set to expire July 1, 2025.
Through the enactment of SB 942 & HB 1729, the Virginia sales tax exemption for parts, engines, and supplies used for maintaining, repairing, and reconditioning aircraft has been extended to July 1, 2030. Previously, the exemption was set to expire July 1, 2025.