Illinois- Effective July 1, 2017, there were law changes for sales and use taxes including exemptions for graphic arts machinery & equipment and increased taxes for gasohol. There are also extended exemptions for some ethanol and biodiesel fuel sales. There will now be a 100% sales tax, service occupation tax, use tax, and service use…
TEXAS – The Governor of Texas, by way of proclamation, has exempted evacuees and relief workers from state and local hotel taxes. Existing tax exemptions will become effective as the Governor designates areas of the state to be natural disaster areas. The Governor’s website will have specific information related to each declared natural disaster. Some…
Texas – Effective January 1, 2018, Senate Bill 1083 amends tax code to exempt from sales and use tax insurance services performed by certified public accounting firms if services are less than 1% of the firm’s previous year’s total revenue. Additionally, insurances services are exempt if a service is performed on behalf of a certified…
Texas – Effective September 1, 2017, House Bill 4054 will amend the tax code to grant exemptions on certain bakery items. This Bill will clarify the taxability of bakery items which has caused taxpayers much confusion in the application of the law. The law was revised to exempt bakery items regardless of whether the item…
Louisiana– Effective October 1, 2017, sales and use tax is 100% excluded from the sale of silver, gold and platinum bullion. Similarly, numismatic coins priced less than $1000, sold at national, statewide, or multi-parish trade shows will now receive full exclusions. “We are very pleased that the Louisiana (sales tax) exemption is now restored,” said…
NATIONWIDE – According to the National Retail Federation, an average family spends $637.78 for shoes, supplies, apparel, and electronics for back to school. An Estimated $83.6 Billion is expected to be generated for back to school sales this year which is a 10% increase from the previous year. In 2016, back to school spending generated…
It has started to get darker later and temperatures are heating up! Yay love this time of the year. Change in season means time to reorganize and declutter your closets. That means there will be some old clothes you no longer want and some clothes that may not fit anymore. Wouldn’t it be great to…
Florida – The Florida sales and use tax exemption for industrial machinery and equipment previously scheduled to expire on April 30, 2017, has become permanent. Effective July 1, 2016, the exemption for machinery and equipment was expanded to include: Recycling industries classified under code 423930 of the North American Industry Classification System (NAICS) (2007) and…
State legislatures were busy in 2016 making changes to sales and use taxes. There were 556 sales and use tax changes at the state, local and county level, based on the annual Sales Tax Rate Report per Vertex, Inc. California lowered its rate from 6.5 to 6.25 percent; however, taxpayers saw no change in their…
Louisiana’s state’s sales tax increased from four pennies to five pennies per dollar April 2016. According to the Tax Foundation, a nonprofit tax policy research organization, the combined average state and local sales tax businesses collect in Louisiana is 9.99%. That easily secures Louisiana at the top spot in the nation for highest average sales…
