State and local tax news brought to you by Zaldivar and Associates
CA budget bill makes tax law changes, suspension of net operating loss deduction, and $5 million cap on business tax credit As part of the 2020-21 California State budget, where the state’s fiscal year begins July 1, the Legislature passed Continue reading California – Budget Includes Major Revenue Raisers and Other State Tax Law Changes
The State of Georgia’s May net tax collections totaled $1.58 billion for a decrease of $178 million, or -10.1 percent, compared to May 2019 when net tax collections totaled nearly $1.76 billion. Year-to-date, net tax collections totaled $20.81 billion for a decrease Continue reading Georgia – Collections nearly $1 Billion Less in Annual Tax Revenue
Special Informational bulletin addressed to all organizations and individuals with Illinois Sales Tax Exemption (“E”) numbers that are currently pending renewal: Due to staffing issues related to the ongoing COVID-19 virus pandemic the Illinois Department of Revenue is unable to Continue reading Illinois – Extension of the Expiration Date of Certain Illinois Sales Tax Exemption (“E”) Numbers Due to COVID-19 Virus Outbreak
With most restaurants, hotels and retail businesses either shut down or seeing little customer traffic, government officials expect a sharp decrease April 20 when they receive March sales and lodging taxes. The notable exceptions are sales taxes from grocery stores Continue reading Alabama – Falling Tax Revenue Looms for State, Counties, Cities
The first of the Economic Impact Payments promised to American taxpayers were direct deposited on Saturday, the IRS announced. The agency promised more payments would come “very soon. #IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. Continue reading Multi State – IRS Deposits First Stimulus Checks Into Americans’ Bank Accounts
It’s been more than 18 months since the Supreme Court of the United States overruled the physical presence rule in South Dakota v. Wayfair, Inc. States now have economic nexus: They can require a business with no physical presence in Continue reading Multi-State – How Most States Uncover Noncompliant Sellers More Than Auditors
As the COVID-19 pandemic spreads through South Dakota so does its potential negative economic impact on city and state budgets. Gov. Kristi Noem has already said in at least one news conference that in June, the Legislature would address sales Continue reading South Dakota – COVID-19 Will Likely Infect Sales Tax, Use Revenue
On March 17, 2020, the Missouri Supreme Court held that the use tax definition of “sale” cannot be applied to sales tax cases, turning more than two decades of precedent on its head. In DI Supply I, LLC v. Director Continue reading Missouri – Supreme Court Ends Longstanding Practice of Applying Use Tax Definitions in Sales Tax Case
The city of Yakima has been a longtime industrial center for agriculture in Washington state. Yakima has recently become the newest member of the Department of Revenue’s Business Licensing Service (BLS). BLS works with most cities along Interstate 82 between Continue reading Washington – Agriculture Capital Yakima adds Combined Licensing Solution for Businesses
Cities have been ground zero in California’s coronavirus response — with many initiating shelter-in-place orders, organizing emergency housing for homeless people and supporting health and essential workers. But even before restrictions get lifted, mayors, managers and city councils are being Continue reading California – What Comes Next for Cities? Deficits, Bailouts and Long Recoveries