Multistate – Virtual Currency And Sales Tax

SALT Report 3329 – On April 8, 2014 congressman Steve Stockman introduced the “Virtual Currency Tax Reform Act”.  The IRS deemed virtual currencies (Bitcoin) as property requiring capital gains reporting.  This Act is intended to change the status of virtual Continue reading Multistate – Virtual Currency And Sales Tax

Minnesota – Storage And Warehousing Sales Tax Repealed

SALT Report 3328 -​The sales and use tax on storage and warehousing services has been repealed. This tax will not go into effect. (It had been set to begin on April 1, 2014.) Storage and warehousing facilities should not charge Continue reading Minnesota – Storage And Warehousing Sales Tax Repealed

Minnesota – Capital Equipment Exemption Effective July 1, 2015

SALT Report 3327 -​The previously reported exemption for capital equipment to take effect in Minnesota is adjusted from September 2014 to July 1, 2015. “On July 1, 2015, Minnesota will change to an upfront sales tax exemption on eligible capital Continue reading Minnesota – Capital Equipment Exemption Effective July 1, 2015