Sales Tax
State & Local Tax Highlights from Around the Country – Feb. 2015
State and local taxes are constantly changing. As the most trusted financial and business advisor to your clients, it's your job to keep up with them. At CPA Practice Advisor, we're here to help you - so here's a roundup of some of the latest changes.
Feb. 13, 2015
State and local taxes are constantly changing. As the most trusted financial and business advisor to your clients, it’s your job to keep up with them. At CPA Practice Advisor, we’re here to help you – so here’s a roundup of some of the latest changes.
Alabama is offering a Severe Weather Preparedness Sales Tax Holiday in February. This is the fourth annual event in Alabama wherein consumers are allowed to purchase certain severe weather preparedness supplies free of state sale or use tax. Retailers are required to participate. The tax-free holiday is February 20 through February 22, 2015.
Sample exempt items include batteries, cell phone chargers, battery-powered radios, two-way radios, self-powered light sources, plastic sheeting, duct tape, plywood and other items specifically designed to protect window coverings, non-electric food and water storage coolers, non-electric can openers, artificial and reusable ice, first aid kits, fire extinguishers, smoke and carbon monoxide detectors, gas or diesel fuel tanks and containers.
The Coalition Against Higher Taxes and Special Interest Deals is a new group that formed in Michigan to publicly oppose the states anticipated sales tax increase and removal of sales tax from fuel sales. Another piece of legislation has been linked to the tax increase. The group contends that special interest items were tacked on to the proposal to ensure passage. “Voters should not have to subsidize the special interest deals with higher taxes in order to fix our roads,” said the group’s treasurer, Paul Mitchell.
Online retailer Amazon.com will begin collecting Illinois sales tax starting in February, 2015. Amazon is building a distribution facility in Illinois that will open this year and that physical presence will create nexus in the state.
Ohio Governor John Kasich has include a sales tax increase in his 2015 budget proposal. The increase would raise state sales tax by half a cent and would be expected to raise $1.5 billion per year for the state.
A bill is floating around the New Hampshire legislature that would permit state taxes and fees to be paid with bitcoin.