Regulatory Analysis
Under House Bill 560, passed in June of this year, the Louisiana legislature imposed a new excise tax on certain CBD products which takes effect on January 1, 2020. This new tax, which is charged at the point of retail sale, applies at a rate of 3% and applies in addition to existing state and […]
Illinois recently enacted legislation requiring marketplace facilitators that meet certain thresholds to collect tax on behalf of their marketplace sellers. Marketplace facilitators must collect tax when they facilitate gross sales of $100,000 or more or when they facilitate 200 or more separate transactions for the sale of tangible personal property to purchasers in Illinois during […]
Sales of communications services in Florida are taxable, unless specifically exempt. Communications services are defined as voice, data, audio, video, or any other information or signals, transmitted by any medium. The cities of Gulf Breeze (5.82%), Marco Island (2.80%), and Palm Shores (5.82%) have updated their Communications Services Tax rates as indicated, effective January 1, […]
Florida recently enacted legislation which will reduce the sales tax on rentals of real property from 5.7% to 5.5% effective January 1, 2020. Examples of real property rentals subject to this tax include commercial office or retail space, warehouses, and self-storage units or mini-warehouses. The local option discretionary sales surtax imposed by the county where […]
Wisconsin recently recently passed Assembly Bill 73 which will end the 0.1% baseball stadium sales and use tax on March 31, 2020 within Wisconsin’s “Baseball Stadium District” which includes Milwaukee, Ozaukee, Washington, Racine, and Waukesha counties. A copy of the bill can be found here.
Alaska one of the few places without a state-level sales tax. There are however many independent cities and boroughs which administer and collect their own taxes. As many states across the country seek to reap the tax dollars now available due to the Wayfair decision, the localities in Alaska felt left out in the cold. […]
As the Louisiana Remote Sellers Commission moves forward with their plan to impose sales tax collection requirements on remote sellers, they have taken a step forward by approving a proposal from a new vendor who will design and implement a tax administration system for the state to help manage remote collections. The new vendor will […]
The Pennsylvania Department of Revenue recently released two publications containing the specifications for electronic reporting of W-2 and 1099 information. These specifications are separated into two separate sets: W-2 and 1099 specifications for Comma Delimited File Formats, and specifications based on the Social Security Administration’s EFW-2 format. There are several changes to these publications compared […]
The Wisconsin Department of Revenue recently released a new version of Publication 172, Annual W-2, 1099-R, 1099-MISC, and W-2G Electronic Reporting. This publication contains information and rules relating to electronic reporting of information returns, along with specification for the transmittal of these reports electronically. The current version is labeled as proposed guidance, pending public comment. […]
The Wisconsin Department of Revenue recently published a Withholding Tax Update bulletin for tax year 2019. This bulletin contains information relating to withholding remittance and reporting, information reporting, and other tax updates relevant to employers in Wisconsin. There are several updates listed in this bulletin, including the following: Withholding deposit reports (Form WT-6) and annual […]
The Wisconsin Department of Revenue recently published an updated version of Publication W-166, Withholding Tax Guide. This publication contains information relating to withholding tax remittance and reporting, including registering for state tax accounts and processes for withholding tax deposits and reporting. There are several updates to the guide in this most recent version, which include […]
Vermont recently published their applicable interest rates for calendar year 2020. These rates will be effective beginning January 1, 2020 and apply to the underpayment and overpayment of tax liabilities during the 2020 calendar year. The overpayment annual rate for 2020 will be 5.5%, while the underpayment annual rate will be 7.5%. To review these […]
Maryland has published its 2019 Form MW508, Annual Employer Withholding Reconciliation Return, due January 31, 2020. Aside from updates to relevant dates/years, there are no changes to this form from the previous version. Additionally, Maryland published its 2019 Maryland Employer Reporting of 1099s Instructions and Specifications and its 2019 Maryland Employer Reporting of W2s Instructions and Specifications. These filings […]
The Louisiana Department of Revenue has released its Fourth Quarter Employer’s Return of Louisiana Withholding Tax Form L1, for the months of October, November, and December, which is due to the Department by January 31, 2019. Every employer who is required to withhold Louisiana state income tax is required to file this return on a quarterly basis, […]
Effective January 1, 2020, Rhode Island will be implementing two significant changes to withholding tax obligations. For certain taxpayers, electronic filing will be mandatory and filing frequencies will be reduced. The “weekly” frequency for submitting withheld tax to the Division of Taxation will replace the current “quarter-monthly” and “daily” frequencies. A week will be defined […]
The West Virginia State Tax Department recently released Publications IT-105 and IT 105.1, Electronic Media Specifications for Forms W-2 and 1099/W-2G, respectively. These specifications are published and provided to taxpayers in order to format and transmit electronic reports for these form types to West Virginia. There are a few updates to each publication, as outlined […]
Kentucky has published its Specifications for Electronic Submission of Annual Wage and Tax Information via Electronic Media or Web for Year 2019. Kentucky follows the IRS EFW2 format; however, there are some state-specific instructions contained herein that should be followed. This publication has not changed from the previous year’s version.
Kansas has released the following publications for tax year 2019/reporting year 2020: Form K-2MT (Kansas W-2 Specifications for Electronic Filing – EFW2 Format) Form K-99CSV (Kansas 1099 Specifications for Electronic Filing – CSV Format) Form K-99MT (Kansas 1099 specifications for Electronic Filing – Pub. 1220 Format) Form KW-2CSV (Kansas W-2 Specifications for Electronic Filing – CSV Format) […]