Regulatory Analysis
As a result of the Supreme Court's decision in South Dakota v. Wayfair, Inc., the State of Vermont began collecting sales tax from certain remote sellers on July 1, 2018. In 2016, the Vermont General Assembly passed Act 134 that, upon the overruling of Quill v. North Dakota, would require certain out-of-state vendors to collect […]
The Guam Legislature recently voted to repeal the pending imposition of sales tax previously set to go into effect October 2018. The Legislature passed the repeal with eleven votes, enough to override any gubernatorial veto. While the bill to repeal the sales tax is not yet law, it is likely that the sales tax will […]
Rhode Island’s legislature has passed, and Governor Raimondo has signed, H 7200, the state’s fiscal year 2019 budget. The budget will change the application of sales tax for a number of goods and services effective October 1, 2018. At that time, prewritten software hosted by the vendor will become subject to sales tax as will […]
As expected, states are moving quickly to expand their tax collection capabilities in light of the Supreme Court’s decision in South Dakota v. Wayfair, with Louisiana being the first state to make a big splash. Specifically, in their 2018 special session, the legislature passed a bill (HB 17) re-defining the term “dealer” to include remote […]
With the passage of House Bill 10, the temporary one percent tax that was imposed during the 2016 First Extraordinary Session of the Louisiana legislature – and scheduled to expire July 1, 2018 – has been partially extended until June 30, 2025. The tax is now levied at a .45% rate as opposed to a one percent […]
The Louisiana Governor signed into law House Bill 10 on June 24, 2018. House Bill 10 includes a Louisiana state level sales and use rate change from 5% to 4.45% effective July 1, 2018 as explained in the Louisiana Dept of Revenue News Release: www.rev.state.la.us/NewsAndPublications/NewsReleaseDetails/11467. Also, please refer to Revenue Information Bulletin 18-016 for details related to the states’ sales and use […]
The Ministry of Finance announced on their Twitter account, a Roadmap for the implementation process of the new eInvoicing regime in Panama. The announcement illustrated that 69% of the implementation process has been completed to date, and that as of June 26, 2018 the tax administration system will start receiving, processing and validating electronic invoices […]
The Maldives Inland Revenue Authority issued a recent tax ruling, which states that GST-registered businesses with an annual turnover exceeding MVR 5 million, to file their general sector GST Return electronically. This filing is done through the Revenue Agency's online portal, known as "MIRAconnect." This ruling has immediate effect, and will apply to any filings made […]
The IRS recently released a draft version of the 2018 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance, Contracts, etc. This form is used to report income from a number of sources related to retirement and other qualified plans. There are number of changes in this draft version of the form, which […]
The New York Department of Taxation recently notified taxpayers that the due date for municipal bond reporting has been extended from June 30, 2018 to August 31, 2018. This decision to extend the due date for the 2018 filing year is attributable to certain delays in sending updated requests for information using Form AU-306. For more […]
The IRS has released the 2019 Draft Form W-4. There are a number of changes to Form W-4 from the previous year as a result of changes created by the passage of the Tax Cuts and Jobs Act in December 2017. The Tax Cuts and Jobs Act made changes to the law, including increasing the […]
On June 1st, "Decree No. 2/2018 (1 June) of the Minister of Finance" was published in the Hungarian Gazette. The regulation, previously released in draft form earlier this year, provides the basis for the new real time electronic reporting obligation in Hungary which is scheduled to go into effect on July 1. As previously announced, data from […]
The Governor of New Jersey just signed the first (in the wake of the federal ACA individual mandate repeal) state individual mandate into law. It will become effective January 1, 2019, so there will be no gap between the expiration of the federal individual mandate and the enforcement of the NJ individual mandate. According to the bill, […]
The IRS has released Proposed Rule REG-102951 containing the proposed regulations amending the rules for determining when information returns will be required to be filed electronically. These proposed regulations would require that all information returns, regardless of type, be taken into account to determine whether a filer meets the 250-return threshold and, therefore, must file […]
The California Employer Development Department (EDD) has revised Publication DE-44, its 2018 Employer’s Guide, which details reporting and withholding requirements for employers who pay employees in the State of California. There is only one substantive revision to this publication – it now includes information pertaining to the Electronic Reporting and Payment Mandate that went into effect […]
The South Carolina Department of Revenue has released a revised version of its publication for the Batch Filing Program for Withholding Quarterly Tax Returns. This publication assists those taxpayers who file 100 or more returns for a tax period for the same tax year in submitting their returns electronically, as required by South Carolina law. There are […]
The South Carolina Department of Revenue has released a revised version of its ACH Credit Instructions and Guidelines. This publication should be consulted when making withholding tax deposits by electronic funds transfer. Taxpayers should use ACH Debit to send the funds to the Department of Revenue’s bank account through a banking program offered by their financial […]
The Ecuadorean Tax Administration (SRI) has issued a new Resolution intended to expand the obligation to issue and report electronic invoices. Resolution NAC-DGERCGC18-00000191 establishes the following schedule defining the effective dates when the new taxpayers will need to start complying with the eInvoicing mandate: Group Effective Date Mandated Taxpayers 1 01 Nov 2018 All Importers […]