State and Local Tax News

New York State and Local Tax Updates March 2019

NY issues explanation of Industrial Development Agencies (IDAs) March 20, 2019 The New York Dept. of Taxation and Finance has issued a bulletin explaining Industrial Development Agencies (IDAs). It describes how IDAs work with their agents on economic development projects to provide sales and use tax benefits. As a government entity, an IDA is exempt from…

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California State and Local Tax Updates March 2019

Are you a California employer who must file state copies of W2s and 1099s? March 20, 2019 Returns that are paper-filed with the IRS will be forwarded to the CA Franchise Tax Board (FTB), so there’s no need for you to also file with the FTB. Generally, the IRS and FTB have the same filing…

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Ohio State and Local Tax Updates February 2019

Planning to close your Ohio business? We can help! February 27, 2019 If so, we can help. There is also an OH Dept. of Taxation Web page (https://bit.ly/2Epnbzj ) that may be of interest to you. Certain tax responsibilities come into play when closing a business. The Web page includes information on obtaining a certificate…

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Georgia State and Local Tax Updates February 2019

New regulation provides Hurrican Michael timber tax credit February 27, 2019 The Georgia Dept. of Revenue adopted a new regulation that provides the implementation and administration of a tax credit for replanting timber lost due to Hurricane Michael. The rule, effective 3/7/19, specifies the credit amount and credit cap. It also explains the preapproval process…

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Illinois State and Local Tax Updates February 2019

Illinois enacts credit to offset state minimum wage February 27, 2019 Illinois enacts a credit against withholding to offset an increase in state minimum wage. Effective 2/19/19, IL state law increases the state’s minimum wage incrementally over a six-year period to $15 per hour in 2025. In addition, it provides a credit against state income…

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