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Tax Briefing(s)

One Big Beautiful Bill Act (Signed Into Law July 4, 2025)2025 Post-Filing Season Update 2024 Post-Election Tax Policy Update

IRS Announces Availability of Work Opportunity Tax Credit Through 2025
The IRS has announced that the Work Opportunity Tax Credit (WOTC) will continue to be available to employers through the end of 2025. This federal incentive is designed to encourage businesses to hire...

IRS Alerts Individuals to Fraudulent Tax Schemes on Social Media, (IR-2025-90)
he IRS has cautioned individuals about a rise in fraudulent tax schemes on social media that misuse credits such as the Fuel Tax Credit and the Sick and Family Leave Credit. The scams typically appear...

IRS Urges Emergency Preparedness Ahead of Peak Disaster Season (IR-2025-89)
The IRS has urged individuals and businesses to review emergency preparedness plans as hurricane season peaks and wildfire risks remain high. Essential documents such as tax returns, Social Security c...

IRS Warns of Scams When Donating After Disasters
The IRS has reminded taxpayers that while donating to disaster relief is a compassionate and impactful way to help, it is equally important to remain cautious. In the aftermath of disasters, scam acti...

IRS Highlights Retirement Benefits of IRAs
The IRS has reminded taxpayers that Individual Retirement Accounts (IRAs) continue to provide important benefits for those planning their financial future. A traditional IRA allows earnings to grow ta...

AZ - Rules clarified for elective entity-level taxation for partnerships and S corporations
Arizona’s update to its guidance on elective entity-level taxation for partnerships and S corporations introduces greater flexibility and clarifies key procedures. Entities can now make or revoke th...

CA - Extensions available for Calaveras and Tuolumne County employers affected by fires
Employers in Calaveras and Tuolumne Counties directly affected by the September 2025 TCU Lightning Complex Fires may request up to a two-month extension of time from the California Employment Developm...

CO - Innovative motor vehicle and truck tax credits rule amended
Colorado has amended its innovative motor vehicle and truck tax credits rule to update guidance regarding the quarterly electronic report that must be submitted to the Department of Revenue; make clea...

FL - Tax applies to parking, docking, tie-down, and storage spaces
Florida sales and use tax, including any applicable discretionary sales surtax, continues to apply to rentals or leases of:parking or storage spaces for motor vehicles in parking lots or garages, incl...

GA - Tax assessors permitted to use income approach with limitations for section 42 properties
The Supreme Court of Georgia reversed the Court of Appeals' decision regarding property tax assessments for affordable housing properties qualifying for Section 42 tax credits, holding that tax assess...

HI - Appeal dismissed due to nonpayment of assessed tax plus interest
The Intermediate Court of Appeals of Hawaii dismissed a taxpayer’s appeal of a general excise tax assessment because the taxpayer did not comply with the statutory requirement to pay the assessed ta...

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...

IL - Financial organization regulations amended
Illinois amended income tax regulations that apply to banks and other financial organizations to:reflect a change in the apportionment rules for sourcing receipts from investment and trading activit...

IA - New guidance issued for income tax withholding on sports wagering winnings
The Iowa Department of Revenue has issued new guidance regarding income tax withholding on sports wagering winnings. The Iowa Code provides regulation on gambling games and sports wagering, defined as...

MD - Impact report on OBBBA issued
The Maryland Comptroller has issued a report outlining the impact that the One Big Beautiful Bill Act is expected to have on Maryland tax revenues. Maryland law requires such a report when amendments ...

MA - Assessment reduction ordered following review of comparable sales data
The Appellate Tax Board of Massachusetts ordered abatements of property taxes on two condominium units assessed at the commercial rate after determining the properties were overvalued for fiscal year ...

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...

NM - Trailer-mounted generators
A New Mexico administrative hearing officer ruled that a taxpayer was entitled to a refund of Motor Vehicle Excise Tax paid on the purchase of trailer-mounted generators, as only the trailers, and not...

NY - Minimum wholesale, retail cigarette prices publication updated
The New York Department of Taxation and Finance has updated a cigarette tax publication that lists the revised minimum wholesale and retail cigarette prices for certain standard brands of cigarettes. ...

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...

ND - Guide to business tax incentives updated
North Dakota has released a business tax incentives publication for 2025, summarizing a number of provisions such as property tax exemptions, sales tax exemptions, and income tax credits. For example,...

OH - Withholding tables updated
Ohio has released updated personal income tax withholding tables that take effect October 1, 2025. Employer Withholding: Table of Contents, Ohio Department of Taxation, September 8, 2025...

OR - Employer tax credit enacted
Oregon has enacted a nonrefundable tax credit against an employers' unemployment insurance payroll taxes. The credit is available to employers whose 2025 tax rate at least 2.5 percentage point less th...

PA -PURTA surcharge rate announced
Pennsylvania has provided notice that the Public Utility Realty Tax Act (PURTA) surcharge calculation for tax years beginning January 1, 2026 is 0 mills. No PURTA surcharge will be imposed for the tax...

TN - Expansion of central business improvement district discussed
Tennessee issued a notice announcing that the Nashville Metropolitan Government of Davidson County is expanding its Central Business Improvement District (CBID) boundaries. Retailers located in the CB...

TX - August 2025 certification of the average closing price of gas and oil released
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period August 2025 is $39.33 per barrel for the three-month period beginning on May 1, ...

UT - 2025 reporting instructions for holders of unclaimed property issued
Utah has issued the 2025 reporting instructions for holders of unclaimed property. The instructions include the following recent unclaimed property law changes affecting holder reporting:Electronic re...

VA - Interest rates unchanged for fourth quarter of 2025
The Virginia interest rates for the fourth quarter of 2025 remain at 9% for tax underpayments (assessments) and 9% for tax overpayments (refunds).For the purpose of computing the addition to the tax f...

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