Catalano, Caboor & Co.
Tax Alerts
Tax Briefing(s)
IRS Reminds Newlyweds To Update Tax Information for Smoother Filing
The IRS has advised newly married individuals to review and update their tax information to avoid delays and complications when filing their 2025 income tax returns. Since an individual’s filing sta...
The IRS has advised newly married individuals to review and update their tax information to avoid delays and complications when filing their 2025 income tax returns. Since an individual’s filing sta...
IRS Offers Relief for Individuals Who Missed April Tax Filing Deadline (IR-2025-66)
The IRS has announced several online resources and flexible options for individuals who have not yet filed their federal income tax return for the tax year at issue. Those who owe taxes have been enco...
The IRS has announced several online resources and flexible options for individuals who have not yet filed their federal income tax return for the tax year at issue. Those who owe taxes have been enco...
Court Lacked Jurisdiction to Rule on Innocent Spouse Relief (Fakir, DC Mich.)
A district court lacked jurisdiction to rule on an individual’s innocent spouse relief under Code Sec. 6015(d)(3), in the first instance. The individual and her husband, as taxpayers, were liable f...
A district court lacked jurisdiction to rule on an individual’s innocent spouse relief under Code Sec. 6015(d)(3), in the first instance. The individual and her husband, as taxpayers, were liable f...
LLC Not Entitled to Full Conservation Easement Deduction; Adjusted Basis Limitation Affirmed (Glade Creek Partners, LLC, CA-11)
A limited liability company classified as a TEFRA partnership was not entitled to deduct the full fair market value of a conservation easement under Code Sec. 170. The Court of Appeals affirmed the T...
A limited liability company classified as a TEFRA partnership was not entitled to deduct the full fair market value of a conservation easement under Code Sec. 170. The Court of Appeals affirmed the T...
Married Couple not Entitled to Refund for Depreciation Deduction (Shleifer, DC Fla.)
A married couple was not entitled to a tax refund based on a depreciation deduction for a private jet. The Court found the taxpayers’ amended return failed to state the correct legal basis for the c...
A married couple was not entitled to a tax refund based on a depreciation deduction for a private jet. The Court found the taxpayers’ amended return failed to state the correct legal basis for the c...
AL - Department begins administering, collecting local taxes in Colbert County
Effective July 1, 2025, the Alabama Department of Revenue begins administering and collecting the city of Clanton's local sales and use taxes. The first city of Clanton local tax return filed with dep...
Effective July 1, 2025, the Alabama Department of Revenue begins administering and collecting the city of Clanton's local sales and use taxes. The first city of Clanton local tax return filed with dep...
AK - Integrated transmission systems legislation enacted
Alaska has enacted legislation creating new energy incentives by extending tax-exempt statutes to independent power producers. An electricity generation facility or electricity storage facility that i...
Alaska has enacted legislation creating new energy incentives by extending tax-exempt statutes to independent power producers. An electricity generation facility or electricity storage facility that i...
AZ - Charitable contribution credit limits increased and updated definitions added
Arizona has amended its personal income tax credits for contributions to qualifying charitable and foster care organizations. Modifies the definitions of "qualifying charitable organizations (QCOs)"Â...
Arizona has amended its personal income tax credits for contributions to qualifying charitable and foster care organizations. Modifies the definitions of "qualifying charitable organizations (QCOs)"Â...
AR - Local tax rate changes announced
The following Arkansas local sales tax rate changes are effective October 1, 2025:Cherry Valley increases its sales and use tax to 2.0%.Howard County decreases its sales and use tax to 1.75%.Madison C...
The following Arkansas local sales tax rate changes are effective October 1, 2025:Cherry Valley increases its sales and use tax to 2.0%.Howard County decreases its sales and use tax to 1.75%.Madison C...
CA - Collection and filing enforcement cost recovery fees set for 2025-26 fiscal year
California has set the the collection cost recovery fees and filing enforcement cost recovery fees to be imposed by the Franchise Tax Board during the 2025-26 fiscal year.For an individual, partnershi...
California has set the the collection cost recovery fees and filing enforcement cost recovery fees to be imposed by the Franchise Tax Board during the 2025-26 fiscal year.For an individual, partnershi...
CO - Electric powered lawn equipment credit guidance updated
Colorado updated its guidance related to the electric-powered lawn equipment credit. Qualified retailers may claim a 33% credit on the aggregate purchase price of new, electric-powered lawn equipment ...
Colorado updated its guidance related to the electric-powered lawn equipment credit. Qualified retailers may claim a 33% credit on the aggregate purchase price of new, electric-powered lawn equipment ...
CT - Changes in economic development-related statutes enacted
Legislation is enacted that makes changes in economic development-related statutes:effective July 1, 2025, and applicable to income and taxable years commencing on or after January 1, 2025, allows a s...
Legislation is enacted that makes changes in economic development-related statutes:effective July 1, 2025, and applicable to income and taxable years commencing on or after January 1, 2025, allows a s...
DE - Budget proposes rate cuts, new brackets, tobacco tax increase
Delaware Gov. Matt Meyer released his budget for fiscal year 2026 that includes proposals to cut personal income taxes and create 3 new tax brackets. The budget also includes a proposal to increase th...
Delaware Gov. Matt Meyer released his budget for fiscal year 2026 that includes proposals to cut personal income taxes and create 3 new tax brackets. The budget also includes a proposal to increase th...
FL - Bullion exemption expanded
Effective August 1, 2025, sales of gold, silver, and platinum bullion are exempt from Florida sales and use tax regardless of the sales price. Tax Information Publication, No. 25A01-03, Florida Depar...
Effective August 1, 2025, sales of gold, silver, and platinum bullion are exempt from Florida sales and use tax regardless of the sales price. Tax Information Publication, No. 25A01-03, Florida Depar...
GA - Taxpayer bill of rights updated
Georgia has updated and reissued its Taxpayer Bill of Rights publication. Topics discussed include: taxpayer rights; obligations of the Department of Revenue; requesting a tax refund; disputing a noti...
Georgia has updated and reissued its Taxpayer Bill of Rights publication. Topics discussed include: taxpayer rights; obligations of the Department of Revenue; requesting a tax refund; disputing a noti...
HI - Taxpayers entitled to renewable energy technologies credit claimed
The Hawaii Supreme Court held that the 2012 renewable energy technologies income tax credit form (Form N-342) and instructions were inconsistent with the applicable statute, and taxpayers were entitle...
The Hawaii Supreme Court held that the 2012 renewable energy technologies income tax credit form (Form N-342) and instructions were inconsistent with the applicable statute, and taxpayers were entitle...
ID: Reminder issued on exemption for small sellers
daho residents are reminded about previously enacted legislation that provides a sales and use tax exemption for certain small sellers with annual sales of $5,000 or less. The exemption is effective J...
daho residents are reminded about previously enacted legislation that provides a sales and use tax exemption for certain small sellers with annual sales of $5,000 or less. The exemption is effective J...
IL - Tax changes may increase current year tax liabilities
Illinois issued guidance discussing income tax changes enacted by budget revenue legislation that may increase current year tax liabilities for taxpayers. The changes include allocation and apportionm...
Illinois issued guidance discussing income tax changes enacted by budget revenue legislation that may increase current year tax liabilities for taxpayers. The changes include allocation and apportionm...
IN - Updated guidance provided on civil service annuity adjustment and military retirement or survivor's benefit deduction
Updated guidance is provided on the civil service annuity adjustment, which is a deduction for a portion of a federal civil service annuity, and the deduction for military retirement pay or survivor's...
Updated guidance is provided on the civil service annuity adjustment, which is a deduction for a portion of a federal civil service annuity, and the deduction for military retirement pay or survivor's...
IA - Correction: upcoming fuel tax rate
A previous story incorrectly stated the Iowa tax rate of Ethanol Blended Gasoline E-15 or higher would remain 25.5 cents per gallon. Effective July 1, 2025, this rate will increase to 26.5 cents per g...
A previous story incorrectly stated the Iowa tax rate of Ethanol Blended Gasoline E-15 or higher would remain 25.5 cents per gallon. Effective July 1, 2025, this rate will increase to 26.5 cents per g...
KS - Local transient guest tax rate changes announced
Kansas announced local transient guest tax rate changes for the second quarter of 2025. Effective July 1, 2025, the transient guest tax rate is 5% in the City of Seneca. Transient Guest Tax Rates, Ka...
Kansas announced local transient guest tax rate changes for the second quarter of 2025. Effective July 1, 2025, the transient guest tax rate is 5% in the City of Seneca. Transient Guest Tax Rates, Ka...
KY - 2025 laws, tariffs, and manufacturer coupons discussed
Kentucky issued its biannual sales facts newsletter which discusses sales and use tax changes from the 2025 legislative session, including laws on:refunds for tax paid by purchasers of bullion or othe...
Kentucky issued its biannual sales facts newsletter which discusses sales and use tax changes from the 2025 legislative session, including laws on:refunds for tax paid by purchasers of bullion or othe...
LA - Motion picture production tax credit rules updated
The Louisiana Department of Revenue has issued updated rules reflecting recent legislative changes to the Motion Picture Production Tax Credit Program. LAC 61:I.Chapter 61, Louisiana Department of Re...
The Louisiana Department of Revenue has issued updated rules reflecting recent legislative changes to the Motion Picture Production Tax Credit Program. LAC 61:I.Chapter 61, Louisiana Department of Re...
ME - IRC conformity date updated
Maine has enacted legislation updating its Internal Revenue Code conformity date to December 31, 2024 for tax years beginning on or after January 1, 2024. L.D. 48 (H.P. 12), Laws 2025, effective as no...
Maine has enacted legislation updating its Internal Revenue Code conformity date to December 31, 2024 for tax years beginning on or after January 1, 2024. L.D. 48 (H.P. 12), Laws 2025, effective as no...
MD - Bulletin issued explaining tax expansion to data/information services
The Comptroller of Maryland has issued a technical bulletin explaining the imposition of Maryland sales and use tax on data or information technology services and software publishing services. Tax is ...
The Comptroller of Maryland has issued a technical bulletin explaining the imposition of Maryland sales and use tax on data or information technology services and software publishing services. Tax is ...
MA - Assessor did not consider evidence at abatement and appeal stages
The Massachusetts Appellate Tax Board granted an abatement for the appellants, ruling that the assessed property tax value exceeded the subject property's fair cash value. The Board determined that th...
The Massachusetts Appellate Tax Board granted an abatement for the appellants, ruling that the assessed property tax value exceeded the subject property's fair cash value. The Board determined that th...
MI - Tax relief available due to severe weather
The Michigan Department of Treasury has announced that pursuant to Governor Whitmer's emergency declaration for Baraga and Allegan counties and the City of Lansing, individuals and businesses within t...
The Michigan Department of Treasury has announced that pursuant to Governor Whitmer's emergency declaration for Baraga and Allegan counties and the City of Lansing, individuals and businesses within t...
MN - Reminder issued on cannabis tax increase
The Minnesota Department of Revenue issued a reminder that recently enacted legislation increases the cannabis tax rate from 10% to 15%, effective July 1, 2025. These products are also subject to both...
The Minnesota Department of Revenue issued a reminder that recently enacted legislation increases the cannabis tax rate from 10% to 15%, effective July 1, 2025. These products are also subject to both...
MS - Excise tax reporting requirements revised
Mississippi updated its guidance on excise tax for other tobacco products following the enactment of new legislation. Effective July 1, 2025, wholesalers selling products upon which the excuse tax has...
Mississippi updated its guidance on excise tax for other tobacco products following the enactment of new legislation. Effective July 1, 2025, wholesalers selling products upon which the excuse tax has...
MO - Disaster declaration area updated to include the City of St. Louis
The Missouri Department of Revenue announced it is implementing the IRS’s updated disaster area that now includes the city of St. Louis. As previously announced by the Department, this extends certa...
The Missouri Department of Revenue announced it is implementing the IRS’s updated disaster area that now includes the city of St. Louis. As previously announced by the Department, this extends certa...
MT - Property tax relief legislation signed
Montana Gov. Greg Gianforte signed property tax relief legislation created by H.B. 231 and S.B. 542. A tiered tax rate is created for residential and commercial class 4 property beginning in tax year ...
Montana Gov. Greg Gianforte signed property tax relief legislation created by H.B. 231 and S.B. 542. A tiered tax rate is created for residential and commercial class 4 property beginning in tax year ...
NE - Refund rates announced
The Nebraska Department of Revenue has issued rates used in claiming refunds of fuel tax used by an exempt entity or for a qualified nontaxable use. For fuel purchased from July 1, 2025 through Decemb...
The Nebraska Department of Revenue has issued rates used in claiming refunds of fuel tax used by an exempt entity or for a qualified nontaxable use. For fuel purchased from July 1, 2025 through Decemb...
NV - Tax exemption criteria tightened for nonprofit organizations
Nevada's Department of Taxation has revised the criteria for nonprofit organizations to qualify for sales and use tax exemptions, requiring compliance with enhanced standards. In determining whether a...
Nevada's Department of Taxation has revised the criteria for nonprofit organizations to qualify for sales and use tax exemptions, requiring compliance with enhanced standards. In determining whether a...
NH - Department reminds taxpayers of interest and dividends tax repeal
The New Hampshire Department of Revenue Administration reminds taxpayers that the Interest and Dividends Tax is repealed effective January 1, 2025. Technical Information Release TIR 2025-001, New Ham...
The New Hampshire Department of Revenue Administration reminds taxpayers that the Interest and Dividends Tax is repealed effective January 1, 2025. Technical Information Release TIR 2025-001, New Ham...
NJ - Film and digital media credit amended
New Jersey has expanded its Film and Digital Media Tax Credit Program. The changes include:increasing tax credits for qualified expenses from 35% to 40% for studio partners within a 30-mile radius of ...
New Jersey has expanded its Film and Digital Media Tax Credit Program. The changes include:increasing tax credits for qualified expenses from 35% to 40% for studio partners within a 30-mile radius of ...
NY - Tax-exempt cigarette annual amounts for Indian nations or tribes announced
The New York Department of Taxation and Finance has determined the annual amount of stamped cigarette tax-exempt packs of cigarettes for each of the Indian nations or tribes for the period beginning S...
The New York Department of Taxation and Finance has determined the annual amount of stamped cigarette tax-exempt packs of cigarettes for each of the Indian nations or tribes for the period beginning S...
NC: Guidance issued on weight-based snuff tax, alternative nicotine products tax, and inventory tax
Guidance is issued regarding recently enacted legislation, effective July 1, 2025, that changed the North Carolina excise tax rate methodology for snuff, imposed a new excise tax on alternative nicoti...
Guidance is issued regarding recently enacted legislation, effective July 1, 2025, that changed the North Carolina excise tax rate methodology for snuff, imposed a new excise tax on alternative nicoti...
ND - Coal severance and coal conversion facilities taxes revised
The existing North Dakota coal conversion facilities tax exemption is modified to be a partial exemption from the coal conversion state share of the tax, equal to:90% for taxable production after June...
The existing North Dakota coal conversion facilities tax exemption is modified to be a partial exemption from the coal conversion state share of the tax, equal to:90% for taxable production after June...
OH - Reimbursements received under management contracts taxable
The Supreme Court of Ohio affirmed the denial of a commercial-activity tax (CAT) refund request for reimbursements received under management-fee contracts. The court determined that the taxpayer did n...
The Supreme Court of Ohio affirmed the denial of a commercial-activity tax (CAT) refund request for reimbursements received under management-fee contracts. The court determined that the taxpayer did n...
OK - Regulations relating to parental choice tax credit created, other regulations amended
The Oklahoma Tax Commission has authorized regulations relating to the Parental Choice Tax Credit program and amended others related to various tax credit programs. Other regulations have been amended...
The Oklahoma Tax Commission has authorized regulations relating to the Parental Choice Tax Credit program and amended others related to various tax credit programs. Other regulations have been amended...
OR - Homestead tax deferral eligibility amended
Oregon has updated the homestead property tax deferral program, increasing the maximum household income threshold for eligibility from $32,000 to $70,000. Further, the state will begin adjusting the i...
Oregon has updated the homestead property tax deferral program, increasing the maximum household income threshold for eligibility from $32,000 to $70,000. Further, the state will begin adjusting the i...
PA -Life estate and remainder interest factors updated
The Pennsylvania Department of Revenue announces realty transfer tax factors effective July 1, 2025, for use in the calculation of the taxable value of a life estate and remainder interests in real es...
The Pennsylvania Department of Revenue announces realty transfer tax factors effective July 1, 2025, for use in the calculation of the taxable value of a life estate and remainder interests in real es...
RI - Levy on new housing units may exceed maximum
Effective for assessments dated on or after December 31, 2025, Rhode Island property taxes levied on new housing units may exceed the maximum levy, subject to qualifications. The taxes levied may only...
Effective for assessments dated on or after December 31, 2025, Rhode Island property taxes levied on new housing units may exceed the maximum levy, subject to qualifications. The taxes levied may only...
SC - Sales tax holiday dates announced
South Carolina has announced that the annual sales tax holiday will take place August 1, 2025, through August 3, 2025. The following items will be exempt:clothing and clothing accessories,footwear,sch...
South Carolina has announced that the annual sales tax holiday will take place August 1, 2025, through August 3, 2025. The following items will be exempt:clothing and clothing accessories,footwear,sch...
SD - Municipal tax changes announced
South Dakota has announced that two communities will implement a 1% municipal tax on lodging, dining, alcohol sales, and admissions. The communities of Newell and Wagner will implement the tax startin...
South Dakota has announced that two communities will implement a 1% municipal tax on lodging, dining, alcohol sales, and admissions. The communities of Newell and Wagner will implement the tax startin...
TN - Various tax manuals updated
ennessee released updated versions of a number of its tax manuals, including those outlined below.Automotive dealerships. The automobile dealership manual was revised to remove outdated information...
ennessee released updated versions of a number of its tax manuals, including those outlined below.Automotive dealerships. The automobile dealership manual was revised to remove outdated information...
TX - Bitcoin classified as intangible property for tax purposes
The Texas Comptroller issued a private letter ruling providing franchise tax guidance to a taxpayer engaged in acquiring and reselling Bitcoin (BTC). The ruling states that BTC is classified as intang...
The Texas Comptroller issued a private letter ruling providing franchise tax guidance to a taxpayer engaged in acquiring and reselling Bitcoin (BTC). The ruling states that BTC is classified as intang...
UT - Publication on vehicle property assessment fees revised
The Utah State Tax Commission has updated its publication on vehicle property assessment fees. Utah vehicles are subject to either an age-based uniform fee or a 1.5% uniform fee that must be paid befo...
The Utah State Tax Commission has updated its publication on vehicle property assessment fees. Utah vehicles are subject to either an age-based uniform fee or a 1.5% uniform fee that must be paid befo...
VT - MFTIA and MFTA rates announced for third quarter of 2025
The Vermont motor fuel transportation infrastructure assessment (MFTIA) rate for the third quarter of 2025 (July to September 2025) is $0.0489, and the motor fuel tax assessment (MFTA) rate is $0.1340...
The Vermont motor fuel transportation infrastructure assessment (MFTIA) rate for the third quarter of 2025 (July to September 2025) is $0.0489, and the motor fuel tax assessment (MFTA) rate is $0.1340...
VA - Reminder issued on certain new tax law changes
The Virginia Department of Taxation issued a reminder regarding some new individual income tax law changes that went into effect beginning July 1, 2025.For additional information and a complete list o...
The Virginia Department of Taxation issued a reminder regarding some new individual income tax law changes that went into effect beginning July 1, 2025.For additional information and a complete list o...
WA - Guidance provided on zero-emission bus exemption
Beginning July 1, 2025, zero-emission buses are exempt from Washington sales and use tax when purchased by a transit agency or a federally recognized Indian tribe to provide public transportation serv...
Beginning July 1, 2025, zero-emission buses are exempt from Washington sales and use tax when purchased by a transit agency or a federally recognized Indian tribe to provide public transportation serv...
WV - Gas and oil rate set for 2026 tax year
The West Virginia severance tax rate on the gross value of natural gas and oil produced in the state is 0% for the 2026 tax. State law requires a rate reduction from 2.5% to 0% if the the balance in t...
The West Virginia severance tax rate on the gross value of natural gas and oil produced in the state is 0% for the 2026 tax. State law requires a rate reduction from 2.5% to 0% if the the balance in t...
WI - Tentative agreement on bipartisan budget deal
Wisconsin Gov. Tony Evers has announced a tentative bipartisan budget agreement with legislative leaders. Some of the highlights of the agreed upon 2025-27 Biennial Budget include:eliminating the sale...
Wisconsin Gov. Tony Evers has announced a tentative bipartisan budget agreement with legislative leaders. Some of the highlights of the agreed upon 2025-27 Biennial Budget include:eliminating the sale...
WY - Local tax rate changes announced
Wyoming has issued a revised overview of changes in local tax rates effective July 1, 2025, for sales, use, and lodging taxes across various localities. The only change from the chart issued April 1, ...
Wyoming has issued a revised overview of changes in local tax rates effective July 1, 2025, for sales, use, and lodging taxes across various localities. The only change from the chart issued April 1, ...
Catalano, Caboor & Co. is a full service Chicagoland CPA firm located in Lombard, Illinois.
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