Tax Alerts
Tax Briefing(s)
2023 Post-Filing Season Update2022 Tax Year-In-ReviewConsolidated Appropriations Act, 2023Inflation Reduction Act of 2022, Signed Aug. 16
Taxpayers Reminded of Identity Protection PINs' Importance, IR-2023-134
The IRS has reminded taxpayers about the IRS Identity Protection PIN opt in program to help protect people against tax-related identity theft. "The Identity Protection (IP) PIN is the number o...
The IRS has reminded taxpayers about the IRS Identity Protection PIN opt in program to help protect people against tax-related identity theft. "The Identity Protection (IP) PIN is the number o...
Contractors Reminded of Expanded New Energy Efficient Homes Tax Credit, IR-2023-142
The IRS has reminded eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home under Code Sec...
The IRS has reminded eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home under Code Sec...
IRS Reminds Educators About Expense Deductions in 2023, IR-2023-150
The IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. If the taxpayer is...
The IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. If the taxpayer is...
IRS Warns About ESOP Compliance Issues, IR-2023-144
As part of ensuring high income taxpayers pay what they owe, the IRS warned businesses and tax professionals to be alert to a range of compliance issues associated with Employee Stock Ownership ...
As part of ensuring high income taxpayers pay what they owe, the IRS warned businesses and tax professionals to be alert to a range of compliance issues associated with Employee Stock Ownership ...
Rates Used in Computing Special Use Value Issued, Rev. Rul. 2023-15
The 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS.In the ruling, the ...
The 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS.In the ruling, the ...
AL - Motor fuel tax rates increased
Effective October 1, 2023, the following Alabama motor fuel tax rates increase as indicated:gasoline—from 28 to 29 cents per gallon;diesel—from 29 to 30 cents per gallon;compressed natural gas (CN...
Effective October 1, 2023, the following Alabama motor fuel tax rates increase as indicated:gasoline—from 28 to 29 cents per gallon;diesel—from 29 to 30 cents per gallon;compressed natural gas (CN...
AZ - Interest rates increased for 4th quarter of 2023
The interest rate on the underpayment and overpayment of Arizona taxes is increased to 8% for the quarter beginning October 1, 2023, and ending December 31, 2023. For the third quarter of 2023 the rat...
The interest rate on the underpayment and overpayment of Arizona taxes is increased to 8% for the quarter beginning October 1, 2023, and ending December 31, 2023. For the third quarter of 2023 the rat...
AR - Tax rate decreased, temporary tax credit created
Arkansas has enacted legislation reducing the highest income tax rates for corporate and individual taxpayers for tax years beginning on or after January 1, 2024. The highest rate for corporate taxpay...
Arkansas has enacted legislation reducing the highest income tax rates for corporate and individual taxpayers for tax years beginning on or after January 1, 2024. The highest rate for corporate taxpay...
CA - Microbusiness COVID-19 relief grants exclusion extended
California has extended the exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program. The extended exclusions apply:for...
California has extended the exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program. The extended exclusions apply:for...
CO - Deferral program changes effective January 1st
Colorado has made two changes to the property tax deferral program that begin for property tax year 2023Currently, a homeowner can not defer tax on a home that is income-producing. The bill exempts ho...
Colorado has made two changes to the property tax deferral program that begin for property tax year 2023Currently, a homeowner can not defer tax on a home that is income-producing. The bill exempts ho...
DC - Sales tax on additional mandatory charges as a result of initiative 82 discussed
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
FL - Guidance issued on catastrophic event property damage
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, when property taxes are due, reporting destruction or...
Florida provides guidance on catastrophic event property damage for property tax purposes. Topics discussed include the payment of property taxes, when property taxes are due, reporting destruction or...
GA - Hurricane Idalia related tax relief announced
The Georgia Department of Revenue has postponed the due dates to most tax returns for taxpayers in areas affected by Hurricane Idalia. The postponement relief applies to return filing, tax payment, an...
The Georgia Department of Revenue has postponed the due dates to most tax returns for taxpayers in areas affected by Hurricane Idalia. The postponement relief applies to return filing, tax payment, an...
ID - Sales tax exemption related to yard sales discussed
Taxpayers may use Idaho sales tax exemption if they have no more than two yard sales in the calendar year and if they are not in the business of selling (a retailer). The exemption is also applicable ...
Taxpayers may use Idaho sales tax exemption if they have no more than two yard sales in the calendar year and if they are not in the business of selling (a retailer). The exemption is also applicable ...
IL - Assessment on disregarded entity’s purchase of aircraft partly affirmed
The Illinois Tax Tribunal (tribunal) partially affirmed an assessment of use tax on a disregarded entity’s (taxpayer’s) purchase of an aircraft because the taxpayer failed to establish that the as...
The Illinois Tax Tribunal (tribunal) partially affirmed an assessment of use tax on a disregarded entity’s (taxpayer’s) purchase of an aircraft because the taxpayer failed to establish that the as...
IN - County rate notice updated
Indiana has updated its notice providing county income tax rate information. The updated rates in the notice are effective for withholding purposes for periods beginning on or after October 1, 2023.Wh...
Indiana has updated its notice providing county income tax rate information. The updated rates in the notice are effective for withholding purposes for periods beginning on or after October 1, 2023.Wh...
KS - Taxpayers notified of rate reduction
The Kansas Attracting Powerful Economic Expansion (APEX) Act provides economic development incentives, including a corporate income tax credit, to qualified firms and suppliers that meet economic dev...
The Kansas Attracting Powerful Economic Expansion (APEX) Act provides economic development incentives, including a corporate income tax credit, to qualified firms and suppliers that meet economic dev...
KY - Railroad revitalization property tax rate, local multiplier set for 2023
The Kentucky Department of Revenue has announced that the Railroad Revitalization and Regulatory Reform (4-R) property tax rate on the affected tangible property has been set for 2023 at 22.44 cents p...
The Kentucky Department of Revenue has announced that the Railroad Revitalization and Regulatory Reform (4-R) property tax rate on the affected tangible property has been set for 2023 at 22.44 cents p...
LA - Government of guam retirement fund income not exempt
The Louisiana Board of Tax Appeals held that income received from the Government of Guam Retirement Fund was not exempt from personal income tax as "income received by an individual pursuant to a reti...
The Louisiana Board of Tax Appeals held that income received from the Government of Guam Retirement Fund was not exempt from personal income tax as "income received by an individual pursuant to a reti...
ME - Interest rates increase
The annual interest rate on overpayments and underpayments of Maine taxes for 2024 will increase to 10%. Interest Rates, Maine Revenue Services, September 7, 2023...
The annual interest rate on overpayments and underpayments of Maine taxes for 2024 will increase to 10%. Interest Rates, Maine Revenue Services, September 7, 2023...
MD - Circuit court authorized to enter judgment awarding surplus funds
For Maryland property tax purposes, the circuit court did not err in awarding a portion of the surplus funds to the condominium council because it remained entitled to the balance of the surplus proce...
For Maryland property tax purposes, the circuit court did not err in awarding a portion of the surplus funds to the condominium council because it remained entitled to the balance of the surplus proce...
MA - Interest rates increased for fourth quarter of 2023
The interest rates on the underpayment and overpayment of Massachusetts taxes are increased for the period October 1, 2023, through December 31, 2023.The rate for overpayments is 7%.The rate for under...
The interest rates on the underpayment and overpayment of Massachusetts taxes are increased for the period October 1, 2023, through December 31, 2023.The rate for overpayments is 7%.The rate for under...
MI - Completion time extended for brownfield tax credit for one project
Michigan extended the time within which one particular project in Detroit can be completed and still be eligible, without penalty, for preapproved brownfield tax credits. The exception applies to a qu...
Michigan extended the time within which one particular project in Detroit can be completed and still be eligible, without penalty, for preapproved brownfield tax credits. The exception applies to a qu...
MN - Fact sheet on special local taxes revised
Minnesota revised a fact sheet on special local taxes to reflect the following previously enacted new local taxes that are effective October 1, 2023:Metro Area sales and use tax for housing is 0.25%; ...
Minnesota revised a fact sheet on special local taxes to reflect the following previously enacted new local taxes that are effective October 1, 2023:Metro Area sales and use tax for housing is 0.25%; ...
MO - Local tax rate changes announced
The following local Missouri sales and use tax rate changes take effect October 1, 2023. Also, new rates are listed for each county, city, and special district affected by the rate changes.County Chan...
The following local Missouri sales and use tax rate changes take effect October 1, 2023. Also, new rates are listed for each county, city, and special district affected by the rate changes.County Chan...
NJ - GILTI and FDII sourcing guidance updated
New Jersey has revised its corporation business tax Technical Bulletin TB-92 regarding allocation of:global intangible low-taxed income (GILTI) defined in IRC Sec. 951A; andforeign derived intangible ...
New Jersey has revised its corporation business tax Technical Bulletin TB-92 regarding allocation of:global intangible low-taxed income (GILTI) defined in IRC Sec. 951A; andforeign derived intangible ...
NC - Methodology for calculating franchise tax for taxpayer’s CFC discussed
The North Carolina Department of Revenue issued a private letter ruling as to the proper methodology for calculating franchise tax for a company’s (taxpayer’s) wholly-owned controlled foreign corp...
The North Carolina Department of Revenue issued a private letter ruling as to the proper methodology for calculating franchise tax for a company’s (taxpayer’s) wholly-owned controlled foreign corp...
ND - 2023 legislative recap issued
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
North Dakota issued a newsletter summarizing legislation enacted in 2023 affecting the corporate and personal income taxes. Among the topics covered are individual income tax rate reductions, deductio...
OH - 2023 fourth quarter PAT average wholesale prices released
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2023.The average prices per gallon for the third quarter are:$2.447 for unleaded regular...
Ohio has released the petroleum activity tax (PAT) statewide average wholesale prices for the fourth quarter of 2023.The average prices per gallon for the third quarter are:$2.447 for unleaded regular...
OK - SST taxability matrix and certificate of compliance updated
Oklahoma updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2023. Taxability Matrix: Tax Administration Prac...
Oklahoma updated its Streamlined Sales and Use Tax (SST) Agreement taxability matrix and certificate of compliance. The changes are effective August 1, 2023. Taxability Matrix: Tax Administration Prac...
PA - DOR updates tax compendium
For the taxes that it administers, the Pennsylvania Department of Revenue (DOR) has updated the Pennsylvania Tax Compendium. The compendium is a general guide to Pennsylvania taxes that describes the ...
For the taxes that it administers, the Pennsylvania Department of Revenue (DOR) has updated the Pennsylvania Tax Compendium. The compendium is a general guide to Pennsylvania taxes that describes the ...
RI - Sales of online programs and computer software taxable
An online education courses provider's (taxpayer's) charges for its online programs and computer software were properly subject to Rhode Island sales and use tax as computer courses that taxpayer sold...
An online education courses provider's (taxpayer's) charges for its online programs and computer software were properly subject to Rhode Island sales and use tax as computer courses that taxpayer sold...
WA - Sales of personalized pet products subject to tax
A pet products retailer’s (taxpayer’s) sales of personalized products such as tags, collars, and leashes were properly subject to Washington manufacturing business and occupation (B&O) tax bec...
A pet products retailer’s (taxpayer’s) sales of personalized products such as tags, collars, and leashes were properly subject to Washington manufacturing business and occupation (B&O) tax bec...
WV - Mercer County commission authorized to levy a special district excise tax
The Mercer County Commission is authorized to levy a West Virginia special district excise tax on sales of tangible personal property and services made from business locations in, and for the benefit ...
The Mercer County Commission is authorized to levy a West Virginia special district excise tax on sales of tangible personal property and services made from business locations in, and for the benefit ...
WI - City of Milwaukee and Milwaukee County certify new sales taxes
The Wisconsin Department of Revenue (DOR) has announced that it received certified ordinances from both the city of Milwaukee and Milwaukee County, regarding their approval of new sales and use taxes ...
The Wisconsin Department of Revenue (DOR) has announced that it received certified ordinances from both the city of Milwaukee and Milwaukee County, regarding their approval of new sales and use taxes ...
WY - Regulations updated
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...
The Wyoming Department of Revenue has updated certain sales and use tax regulations in order to conform to current law. The amended rules include:Ch. 2 Section 2 (Definitions);Ch. 2 Section 3 (Adminis...