Regulatory Analysis
Most Canadian provinces impose environmental handling fees on certain electronic waste through the Electronic Products Recycling Association (EPRA). Beginning June 1, the categories for Display Devices Steward fees will expand from “Display Devices ≥ 46″ and All-in-One” to “Display Devices 46-64″ and All-in-One” and “Display Devices ≥ 65” and All-in-One”. As a result, businesses will […]
Effective July 1, 2026, Maryland will restore the sales tax exemption for precious metal bullion and coins with a sales price greater than $1,000. Previously, Maryland adjusted statute language so that only those purchases of bullion made at the Baltimore Convention Center were exempt. This requirement is no longer in place. Find more information here.
The National Association of Unclaimed Property Administrators (NAUPA) has reached out to the Unclaimed Property Professionals Organization to provide an update on the proposed transition to the NAUPA III format. In its update, NAUPA advises that the transition will now be accomplished in phases starting in the Spring of 2027. The full text of the […]
North Carolina House Bill 1029 was introduced on April 22, 2026, and amended on May 12, 2026. Titled the Digital Asset and Stablecoin Act, the bill provides detailed requirements for entering the digital asset business in North Carolina. Embedded within the Act are amendments to the unclaimed property act relating to unclaimed digital assets as […]
Vermont’s Department of Taxes has announced via email newsletter that it intends to accept 1099 filings in the new IRIS XML format promulgated by the IRS to replace the existing FIRE fixed-length reporting format. The Department will begin accepting records in the IRIS format in December, 2026. While the Department has not yet provided technical filing […]
California Governor Newsom’s new budget proposal would impose sales tax on electronically delivered software (cloud-based and downloaded). If approved by the legislature, the change would go into effect January 1, 2027. Currently, California sales tax generally only applies to software when it is prewritten and sold on tangible medium. More information can be found here.
The IRS has recently released Form 1099-MISC (Miscellaneous Information) for tax year 2026 (filing season 2027). This form is used to report miscellaneous income such as rents, royalties, prizes, awards, medical and health care payments, and other income payments. The payer and recipient information sections have been restructured, with the payer’s information separated from a […]
Effective July 1, 2026, South Tucson, Arizona passed Ordinance 26-01, decreasing the tax rate on food for home consumption from 1.5% to 0% More information may be found here.
VA § 58.1-609.1 (19) exempts gold, silver, or platinum bullion, as well as legal tender coins from sales tax. This exemption was set to expire June 30, 2025 and VA HB 1600 extended the expiration to June 30, 2026. At this time, Virginia has not extended the exemption further. Therefore, Virginia will begin taxing these […]
On May 12, 2026, Maryland enacted emergency legislation addressing penny rounding on cash transactions. The language details that if the price ends in 1 cent, 2 cents, 6 cents, or 7 cents, a business should round down to the nearest nickel. If the price ends in 3 cents, 4 cents, 8 cents, or 9 cents, […]
On May 12, 2026, Maryland enacted House Bill 898. The legislation provides an exemption for certain data and information technology (IT) services, software publishing services, digital codes, and digital products if both the vendor and the buyer are members of the same affiliated group within the meaning of §1504 of the Internal Revenue Code. The […]
Massachusetts recently published Directive 26-1, which provides guidance on how sales tax must be calculated following the elimination of the penny. With the U.S. Treasury minting its last penny on November 12, 2025, vendors have begun rounding cash transactions to the nearest nickel. However, vendors are required to calculate and remit sales tax based on […]
Effective May 1, 2026, Williamsburg County, South Carolina is imposing a 1% Capital Projects Tax. Certain food sales are exempted from the tax. You may find more information here.
Effective July 1, 2026, 56 municipalities and 3 counties in Illinois will begin imposing the 1% grocery tax. This follows the more than 600 localities that began imposing the grocery tax on January 1, 2026. More information can be found here.
The Puerto Rico Internal Revenue Code provides for a periodic sales tax holiday for certain hurricane preparedness items. Historically, the holiday occurs during the last weekend in May. However, pursuant to Circular Letter No. 26-08, issued on May 1, the dates for the holiday period this year will be May 22, 2026 – May 25, 2026.
The IRS has released the instructions for form 1099-DA for tax year 2026. These instructions are notable as 2025 was a transitional year for reporting this form, and the 2026 instructions are intended to be final instructions for the form. Form 1099-DA reports the sale of digital assets, including cryptocurrency and NFT sales. Such sales […]
The IRS has updated Form 941 (Employer’s Quarterly Federal Tax Return) and Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund), along with their respective Instructions, for 2026. These forms are used by employers to report quarterly wages, taxes withheld, and social security and Medicare obligations, and to correct errors on previously […]
The City of Chignik has completed the process to join the Alaska Remote Sellers Sales Tax Commission (ARSSTC). Sellers must begin collection on 6/1/2026 and forms for filing will be updated to include Chignik on 7/1/2026.