Regulatory Analysis
Texas Tax Rule 3.334 was recently modified to clarify the definition of a “place of business” as it applies to local sales and use tax sourcing. It now clearly specifies that sales personnel must be present for a location to be considered a “place of business” and that a “place of business” does not include […]
The IRS released its 2021 revision of Publication 1179, the General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns. The update has a revision date of June 28, 2021. For the most part, only minor changes have been made to the information contained within the publication. The most […]
Kansas recently released an update to its Withholding tax guide, Publication KW-100. Though minor updates have been made, this appears to be the first full revision since 2017. Throughout the document, references to 2017 have been updated to 2021, and several minor grammatical and formatting changes have been made. Additionally, the tables have been updated […]
Oklahoma recently released an update to it’s WTR 10002, the Nonresident Royalty Withholding Tax Return. Aside from updating the revision date to 6/2021, there were several formatting and font changes to the form itself which will not affect reporting. The only notable changes to the form are found in the on-form instructions. The instructions for […]
New York recently released an update to its 2021 Form IT-2104, the Employee’s Withholding Allowance Certificate. The IT-2104 is used for claiming withholding allowances for New York State, New York City, and Yonkers. No changes were made to the form itself, but a couple of notable changes and additions have been made to the on-form […]
New Mexico recently released an update to it’s FYI 104 Publication which is the Withholding Tax general instructions document. The revision is noted as July of 2021 and many of the updates come from the development of new forms. The most important changes are detailed below. • Under the Notes for Who Must Withhold, a […]
Idaho recently updated its Wage Withholding Tables, changing several of the withholding brackets for the 2021 tax year. To view the complete table, click here.
Arkansas recently updated its Form ARW-3, the Transmittal of Wage and Tax Statements. The only changes to the form itself are that the fillable format was enhanced with defined areas for input. The form revision date was updated to June 28, 2021. To view the complete form, click here. ARW_3 ARW_3-1
Effective July 1, 2021, Virginia Senate Bill 1302 was a the first legislation in the nation to provide for an E-988 surcharge on retail prepaid wireless services to fund a 988 suicide prevention hotline. Notably, the E-988 surcharge is combined to the existing E-911 surcharge. Thus on sales tax returns, the new E-911/E-988 surcharge of […]
Colorado recently enacted Senate Bill 154 to establish a 988 suicide prevention hotline and impose an E-988 surcharge. The legislation provides that beginning January 1, 2022, there is to be a E-988 surcharge applied to each retail transaction for prepaid wireless services. This surcharge will be used to fund the 988 network in the state. […]
Maine’s governor recently signed LD 1216 into law. This bill provides that on or after January 1, 2022, economic nexus will no longer require 200 separate transactions. Entities with gross sales exceeding $100,000 in the current or previous calendar year must continue to register, collect and remit sales and use tax. The relevant amendment can […]
The IRS recently released an updated version of Publication 1281, Backup Withholding for Missing and Incorrect Name/TIN(S). This publication provides information and procedures relating to backup withholding, including instructions on how payers and recipients must navigate the CP2100/2100A notification process. Most notably the publication was updated to include Form 1099-NEC by name: previously this form […]
NY AB 7742 was introduced on May 21, 2021. Click here to read a copy of the bill. This proposed legislation is significant because it defines virtual currency and provides guidelines for reporting. A dormancy period of 3 years will be used. The state would be able to accept the currency in native units so […]
Colorado Governor Jared Polis recently signed HB 21-1265 allowing a temporary deduction from state net taxable sales for qualifying retailers including, restaurants, caterers, and bars, so that they may retain the sales tax collected as assistance for revenue losses suffered from the pandemic. The bill is effective from June 2021 through August 2021. Further information, […]
New Mexico has released two new withholding forms and related instructions. Beginning July 1, 2021 form TRD-41414 is the new wage withholding tax return and form TRD-41409 is the new non-wage withholding tax return. These forms replace the prior CRS-1 semi-annual withholding return form. Where CRS-1 was previously used to report either wage or non-wage […]
Kansas Governor Laura Kelly signed HB 2137 into law on May 19, 2021, making several critical changes relating to the DtC shipping of wine impacting fulfillment houses and DtC Sellers. These changes are immediately effective. Kansas requires both in-state and out-of-state fulfillment houses to register and received a Fulfillment House License. Each location of the […]
Beginning July 1, 2021, the city of Denver, Colorado will impose a $0.10 fee on disposable plastic and paper bags. The fee is not included as a part of the taxable sales price and will be used to help educate customers through information programs and provide free reusable bags. The bag fee was originally set […]
Pursuant to Governor DeSantis signing FL HB 7061, Florida will now have three Sales Tax Holidays in 2021. The Disaster Preparedness Sales Tax Holiday will be held between May 28, 2021 and June 6, 2021, giving shoppers the opportunity to purchase certain disaster and emergency supplies free from state sales tax when the cost per […]