Regulatory Analysis
North Carolina has released its File Layout Specifications for Forms 1099 and 1042-S for tax year 2022. The documents were updated with dates for the 2022 tax year. On the 1099 File Layout Specification, the location for field specification 711-722, “State Income” has changed from Box 17 to Box 18 of 1099-MISC. On both 1099 […]
Nebraska recently updated form 501N for tax year 2022. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. There were no substantive changes from the 2021 version. To view Form 501N, click here.
Since June, New York has implemented a Fuel Tax Holiday. This holiday exempted sales of motor fuel and diesel motor fuel from New York state sales and use tax and suspended the prepaid sales tax and several fuel excise taxes. The exemption also extended to the Metropolitan Commuter Transportation District’s sales and use taxes. The […]
Enacted July 6, 2021, HB 1162 establishes a $0.10 “carryout bag fee” in the state of Colorado. The fee applies to paper bags as well as single-use plastic carryout bags provided at the point of sale of certain stores effective January 1, 2023. Locals may establish a higher fee by ordinance or resolution beginning July […]
The Lone Tree City Council approved a temporary sales and use tax rate reduction of 0.5% for the period of December 1, 2022, through January 1, 2023. During the mentioned period, the rate is reduced from 2.8125% to 2.3125%. The Lone Tree business tax page may be found here.
Over the summer New York passed the “Diaper Initiative Affordability for Parents and Elderly Remedy (DIAPER) Act” fully exempting sales of diapers from state and local sales taxes. This new exemption is set to take effect on December 1, 2022. The new exemption applies to both children’s and adult diapers as well as to both […]
The City of Galena has completed the process to fully participate in the Alaska Remote Sellers Sales Tax Commission (ARSSTC). Collection is effective 12/1/2022 and filings will be updated to include Galena on 1/1/2023. More information on the ARSSTC may be found here.
The State of Pennsylvania is sunsetting its online tax platform known as “e-TIDES” and transitioning to its new “myPATH” portal. There are a couple of changes to the filing process in this change: e-TIDES did not enforce the CSV columns to be in a particular order, but myPATH will only accept files in the order in […]
Kentucky has released its Electronic Submission of 1099 and W-2G specs for tax year 2022. The document was updated with dates for the 2022 tax year. There are no changes to the specifications when compared with the TY 2021 Specifications. To review these specifications in their entirety, please click here to visit the Kentucky Department […]
Kentucky recently enacted HB 8 which provides for a new amnesty period from October 1 to November 29, 2022. During this period, amnesty is available for sales which took place between October 1, 2011, to December 21, 2021 and will apply to most tax types, as well as associated penalties, fees, and interest collected by […]
The Municipality of Skagway passed a resolution declaring the period of October 1, 2022, through March 31, 2023, as a sales tax holiday for local purchases. The sales tax holiday applies to all retail sales which physically occur within the local and is not applicable to remote sellers. The resolution may be found here.
The City and Borough of Sitka Assembly has approved a resolution providing November 25th & November 26th, 2022. as sales tax free days. This holiday applies to all sales made within the City and Borough, except any sale of fuel, alcoholic beverages, tobacco products, marijuana, and any sale which is part of a continuing obligation […]
As a result of Hurricane Fiona, Puerto Rico has declared a state of emergency through Executive Order No. OE-2022-045. In response to this, the Treasury Department issued Administrative Declaration 22-07 which provides for a temporary exemption from the sales and use tax on “prepared foods”, “candies”, “carbonated beverages”, and “pastries”. The exemption period will begin […]
New Jersey recently enacted P.L. 2022, c. 97 which excludes the installation of signs from the existing capital improvement sales tax exemption. Sign installers must charge sales tax to their customers on the installation of all signs beginning October 1, 2022. However, the new law allows sign installers to purchase signs and materials for use […]
The Minnesota Department of Revenue recently updated Form W-4MNP, Withholding Certificate for Pension and Annuity Payments. This form is used by distribution recipients to report taxpayer information and exemptions to the payors, who use the information for withholding tax purposes. While the form and payee instructions saw minor updates, the payor instructions saw substantial changes. […]
The Utah State Tax Commission recently published an updated version of Publication 14, Withholding Tax Guide. This publication provides guidance and information for taxpayers relative to withholding tax payment and reporting, along with W-2 and 1099 reporting information. Note that this most recent release is effective as of January 1, 2023; the version effective for […]
The Ketchikan City Council recently approved ordinance No. 22-1949. The ordinance establishes a seasonal tax rate of 5.5%, from April 1 through September 30, on all retail sales, services, and rents subject to sales tax. Additionally, it lowers the tax rate to 3% for the period of October 1 through March 31. The rate changes […]
The State of Colorado recently approved HB 1055. This bill exempts “period products”, diapers and incontinence products from sales and use tax effective January 1, 2023. For the purposes of the new exemption, “incontinence products and diapers” means absorbent cloth or disposable products worn by humans and “period products” means consumer products used to manage […]