New Jersey- Crippling Effects of COVID-19: NJ Faces $10B Revenue Shortfall

The Department of the Treasury delivered a budget update to the Legislature Friday, providing a detailed revenue report that illustrates the devastating impact COVID-19 has had on New Jersey’s finances and laying out plans to close the looming gap for Continue reading New Jersey- Crippling Effects of COVID-19: NJ Faces $10B Revenue Shortfall

Illinois – Extension of the Expiration Date of Certain Illinois Sales Tax Exemption (“E”) Numbers Due to COVID-19 Virus Outbreak

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

Multi-State – Congress Could Reverse IRS Denial of Tax Deductions For Paycheck Protection Expenses May 2, 2020.

On April 30, the IRS ruled out tax deductions for wages and rent paid with forgivable PPP loans. The IRS views it as a double dip. However, some Senators and Congressmen are pushing back, saying that expenses funded with small business Continue reading Multi-State – Congress Could Reverse IRS Denial of Tax Deductions For Paycheck Protection Expenses May 2, 2020.

Maine- Governor Provides Municipalities With Increased Flexibility In Setting Due Dates and Interest Rates For Local Property Taxes

Governor Janet Mills recently signed an Executive Order that will provide municipalities with additional options in their administration of local property tax in response to the COVID-19 emergency. The Executive Order allows municipal officers to extend and reestablish property tax Continue reading Maine- Governor Provides Municipalities With Increased Flexibility In Setting Due Dates and Interest Rates For Local Property Taxes

New York – Walsh’s Budget Estimates The COVID-19 Pandemic Will Cost The City $11.1 Million In Revenue

In front of roughly 100 people tuned in to a virtual Syracuse Common Council meeting, Mayor Ben Walsh released his $253 million dollar budget proposal for the upcoming fiscal year beginning July 1. The budget anticipates the coronavirus pandemic will Continue reading New York – Walsh’s Budget Estimates The COVID-19 Pandemic Will Cost The City $11.1 Million In Revenue

Ohio- Loveland Council May ID Sales Tax Hike Option for November Ballot on Tuesday

Loveland’s City Council will have the opportunity on Tuesday to hammer out the details of a sales tax hike that may appear on the ballot this November. While a hike has been discussed previously — in a council budget subcommittee Continue reading Ohio- Loveland Council May ID Sales Tax Hike Option for November Ballot on Tuesday

New York- Lost Revenue and State Aid Cuts Coronavirus Economic Impact on Counties

The COVID-19 pandemic has impacted every aspect of our society, government and the economy like no other event in our lifetimes. In March, the New York State Association of Counties (NYSAC) completed an initial economic analysis of the coronavirus on Continue reading New York- Lost Revenue and State Aid Cuts Coronavirus Economic Impact on Counties

Multi State – IRS Deposits First Stimulus Checks Into Americans’ Bank Accounts

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

California – City To Use Coronavirus Relief Funds to Offset Pandemic-Related Tax Revenue Deficit

The city of San Diego will use federal and state COVID-19 relief funds to offset major budget cuts proposed last month to manage pandemic-related revenue shortfalls, San Diego Mayor Kevin Faulconer announced Tuesday. The city faces a budget deficit exceeding Continue reading California – City To Use Coronavirus Relief Funds to Offset Pandemic-Related Tax Revenue Deficit

Wyoming – Recent tax law for online sales a boon for Laramie

Online sales are popular in Laramie. That’s what the most recent Albany County sales and use tax collection totals told Laramie city staff. During last week’s budget work session for the 2021 fiscal year the city manager Janine Jordan said Continue reading Wyoming – Recent tax law for online sales a boon for Laramie