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 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...
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 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 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...
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...
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...
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...
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...
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...
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 ...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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 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 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 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...
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...
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...
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 ...
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...
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...
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...
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 ...
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...
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...
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 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 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...
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...
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...
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...
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 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...
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...
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 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 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 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...
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...
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...
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...
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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