Regulatory Analysis
Louisiana has recently published new guidance regarding sales and use taxes on digital products and services. This guidance provides clarification on the scope of new sales and use taxes imposed in January 2025 under legislative bills HB8 and HB10.
Effective October 1, 2025, the State of Florida will repeal the state sales tax on rent or license fees for the use of real property. The repeal affects a wide range of commercial rental properties, including office and retail spaces, warehouses, and self-storage units. However, this repeal does not apply to parking, docking or storage […]
Rhode Island recently passed legislation which imposes sales tax on short-term parking services. The term is defined to include parking services for less than one month. This will take effect on October 1, 2025. For more detail, please reference Advisory 2025-14 linked here.
Effective January 1, 2026, Colorado HB 1005, eliminates the sales tax vendor fee retailers may retain in connection with remitting and collecting sales tax. Previously, qualifying retailers may have kept a percentage of state sales tax collections each month for administrative costs associated with remitting and collecting sales tax. Further information about the legislation may […]
The IRS has released a draft 2026 Form W-2 that introduces significant changes to support the One Big Beautiful Bill Act (OBBBA) overtime and tips tax deduction provisions. The draft form adds a new reporting field to report the occupation of tipped employees and three new Box 12 codes to report Trump Account contributions, qualified […]
Maine has released draft specifications for the electronic filing of the form with the state for tax year 2025. There are a few changes to the specifications, including a new field for reporting employee-paid paid family medical leave contributions in the RS record and a new state specific RT record. In addition, the specifications document […]
The IRS recently released an updated Publication 1141 (General Rules and Specifications for Substitute Forms W-2 and W-3). Publication 1141 provides the IRS and Social Security Administration requirements for the preparation and use of substitute Forms W-2 and W-3 for reporting wages paid during the calendar year. There are several notable updates. First, the guide […]
The IRS has released its revised Publication 1179 (General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns). This publication provides comprehensive guidance for preparing substitute versions of official IRS information return forms. Most notably, the IRS has introduced Form 1099-DA for reporting digital asset transactions from brokers, reflecting […]
Localities in Virginia may impose a $0.05 bag fee on each disposable plastic bag provided to customers at check out. Locals need to pass an ordinance to impose such a fee. Richmond, Virginia approved Ordinance 2025-099 to impose a $0.05 bag fee on certain bags at check out, effective January 1, 2026. Further information concerning […]
The town of Clifton, Arizona has adjusted its tax code to establish a tiered use tax rate beginning October 1, 2025. For items $10,000 or less, the use tax rate will be 3%. For items greater than $10,000, the use tax rate will be 2%. Further information regarding this change may be found here.
The city of Maricopa, Arizona enacted an ordinance to increase the general transaction privilege tax rate by 0.50% beginning October 1, 2025. The increase does not apply to certain tax classes, including food for home consumption. Further information may be found here.
Effective September 1, Alabama will exempt qualifying baby supplies, baby formula, maternity clothing, and menstrual hygiene products from state sales and use tax. Further details may be found here.
The Missouri legislature passed HB 594, creating an exemption for diapers, feminine hygiene products and incontinence products. The exemption is set to begin on August 28, 2025. For definitions of each term, please reference the following statute: RSMo § 144.029.
The City of Kake has completed the process to join the Alaska Remote Sellers Sales Tax Commission (ARSSTC). Sellers must begin collection on 9/1/2025 and forms for filing will be updated to include Kake on 10/1/2025.
Effective July 10, 2025, Alaska HB 123 became law without the Governor’s signature. The legislation provides for a reduction in the Vehicle Rental Tax rate from 10% to 9% of the total fees and costs charged for the lease or rental of a passenger vehicle not arranged through a vehicle rental platform under AK Statutes 43.52.020.
On July 4th, President Trump signed the “One Big Beautiful Bill,” which dramatically alters Form 1099-K, 1099-MISC and 1099-NEC reporting thresholds, effective for payments made after December 31, 2025. Section 70432 of the “One Big Beautiful Bill” significantly changes Form 1099-K reporting requirements for third-party settlement organizations. Previously, under the American Rescue Plan Act of […]
The Social Security Administration has released its W-2 electronic reporting specifications for tax year 2025. Publications EFW2 and EFW2C provide reporting specifications and directions for filing original and corrected electronic W-2 forms with the federal government, and the specifications for tax year 2025 have been released. Each year, the Social Security Administration adjusts the annual […]
On May 20, 2025, Governor Ferguson signed SSB 5314, comprehensive legislation modifying the state’s capital gains tax under RCW 82.87.020. The bill addresses various aspects of the state’s relatively new capital gains tax. Among its provisions, Section 15 establishes new 1099-B reporting requirements for brokers and barter exchanges, effective January 1, 2026. This marks a […]