Regulatory Analysis

Posted 3 days ago by Tom Hospod
South Carolina Updates South Carolina Publication RS-1

South Carolina has issued a revision of its Publication RS-1, Instructions and Specifications for Filing Forms W2. There are no changes to the specifications themselves. However, some addresses have changed: Paper W2s, W2Gs, 1099s, or Extension Request: South Carolina Department of Revenue, PO Box 125, Columbia, SC 29214-0022 CD-ROM: South Carolina Department of Revenue, PO Box […]

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Posted 3 days ago by Paul Ogawa
New York Updates Electronic Reporting of Quarterly Combined Wage and Withholding Tax Information

The New York Department of Taxation and Finance recently updated their Publication 69, Electronic Reporting of Quarterly Combined Wage and Withholding Tax Information. This publication provides information on regulations and requirements for filing withholding tax information on a quarterly basis, including specifications for electronic transmittals. Updated from a downloadable publication to a web page, there […]

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Posted 3 days ago by Paul Ogawa
Kentucky Updates Withholding Instructions for Employers

The Kentucky Department of Revenue recently updated Publication 42A003, Withholding Instructions for Employers. This publication provides instructions and withholding guidelines for employers who have filing obligations in Kentucky. This most recent version is an update to a recent version that was released in December 2018, with only one update from the previous version: Section XII, […]

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Posted 3 days ago by Paul Ogawa
Kentucky Publishes New Form K-5C for Information Returns

The Kentucky Department of Revenue recently published a new form for correcting information returns called Form K-5C, Corrected report of Kentucky Withholding Statements. This form is used to correct certain information on information returns previously submitted using Form K-5, Employer’s Report of Withholding Tax Statements. Form K-5C can only be filed to correct certain information on […]

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Posted 3 days ago by Tom Hospod
Maryland Revises Form MW506FR, Employer Withholding Final Return Form

Maryland has updated its Form MW506FR, Employer Withholding Final Return Form – which should be submitted with the final employer withholding tax return (MW506 or MW506M) or mailed separately if filing electronically. The only revision to the form is the additional requirement of the last four digits of the employer’s zip code.

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Posted 3 days ago by Tom Hospod
Alabama Announces Second Quarter Interest Rate

The Alabama Department of Revenue recently announced the quarterly interest rate for underpayments and overpayments of withholding taxes for the second quarter of 2019. The interest rate for the first quarter of 2019 was 6% and will remain at 6% for this coming quarter.

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Posted 3 days ago by Matthew Gonnella
North Carolina Codifies Remote Sales Requirements

North Carolina Governor Roy Cooper signed Senate Bill 56 into law which codifies the North Carolina Department of Revenue directive published in response to the South Dakota v. Wayfair U.S. Supreme Court Decision. The legislation requires remote sellers to collect and remit sales and use tax when the seller, for either the current or previous year, has […]

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Posted 4 days ago by Kaitlyn Smethurst
Nebraska Enacts Marketplace Legislation

On March 21, 2019, Governor Ricketts of Nebraska signed LB284 into law, enacting requirements for marketplace sellers to collect and remit sales and use tax in Nebraska. Under this legislation, sellers will be considered “doing business in Nebraska” when they have 200 or more transactions or sell more than $100,000 in products into Nebraska via the internet […]

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Posted 4 days ago by Erik Wallin
Utah Sales and Use Tax Rate Change Effective April 1, 2019

Utah voters approved Proposition 3 on November 6, 2018. Proposition 3 includes a state-level sales and use tax rate change from 4.70% to 4.85% effective April 1, 2019.  Please refer to Utah State Tax Commission Tax Bulletin 01-19 for more details and a listing local rate changes to take effect April 1, 2019.

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Posted 4 days ago by Matthew Gonnella
Washington Passes Legislation Adjusting Marketplace Collection Requirements

The State of Washington recently passed SB 5581 which simplifies economic nexus rules for remote sellers and marketplace facilitators which became effective immediately upon signing by the governor on March 15, 2019. The legislation eliminates the 200 sale threshold for economic nexus and codifies the $100,000 in annual sales threshold based on cumulative gross receipts on retail sales (previously […]

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Posted 1 week ago by Andrew Decker
New York Issues Advisory Opinion on Marketplace Liability

The New York State Department of Taxation and Finance has issued TSB-A-19(1)S which found that an online marketplace which sold software on behalf of third-party sellers could be viewed as a co-vendor liable for the collection and remittance of sales tax on the sales of prewritten software. The opinion states that if the marketplace collects and […]

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Posted 2 weeks ago by Tom Hospod
IRS Reminds Filers to Indicate Health Coverage

The IRS has published a notice reminding filers that, despite the repeal of the individual mandate in last year’s tax reform bill, individuals must still indicate on their return whether they had health coverage. ACA remains the law of the land for Tax Year 2018 – individuals were required to maintain and report coverage. The IRS […]

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