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Budget Reconciliation Bill (Released by House May 12, 2025)2025 Post-Filing Season Update 2024 Post-Election Tax Policy Update

Earned Income Tax Credit Marks 50th Year Aiding Working Families (IR-2025-38)
The IRS acknowledged the 50th anniversary of the Earned Income Tax Credit (EITC), which has helped lift millions of working families out of poverty since its inception. Signed into law by President ...

Applicable Terminal Charge and SIFL Rates for Determining Value of Noncommercial Flights on Employer-Provided Aircraft Issued (Rev. Rul. 2025-09)
The IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rate for determining the value of noncommercial flights on employer-provided aircraft in effect ...

IRS Urges Taxpayers To Review Withholding Early To Avoid Surprises Next Filing Season (IR-2025-52)
The IRS is encouraging individuals to review their tax withholding now to avoid unexpected bills or large refunds when filing their 2025 returns next year. Because income tax operates on a pay-as-you-...

IRS Whistleblower Office Unveils First Multi-Year Operating Plan To Strengthen Program Oversight (IR 2025-40)
The IRS has reminded individual taxpayers that they do not need to wait until April 15 to file their 2024 tax returns. Those who owe but cannot pay in full should still file by the deadline to avoid t...

AZ - No local tax rate changes for June
Arizona has no local transaction privilege tax (TPT) or local medical and adult use of marijuana TPT rate changes for June 2025. Tax Rate Tables, Arizona Department of Revenue, May 2, 2025...

CA - Cannabis excise tax rate hike announced
Effective July 1, 2025, the California cannabis excise tax rate is increased from 15% to 19% of gross receipts from retail sales of cannabis or cannabis products. The California Department of Tax and ...

CO - SALT parity act guidance updated
Colorado issued updated guidance on the state's SALT Parity Act, which allows electing pass-through entities (PTEs) to pay Colorado income tax at the entity level. The updated guidance clarifies that ...

FL - All Hillsborough County surtax collection resumes June 2025
Beginning June 1, 2025, dealers must resume collection of the following Hillsborough County discretionary sales surtaxes for Florida sales and use tax purposes:the 0.5% indigent care surtax; andthe 0....

GA - Local rate changes announced for Q3
Multiple Georgia counties have sales and use tax rate change that take effect on July 1, 2025.County Tax Rate ChangesThe following counties will have tax rate changes:Clinch, 7%;Stewart, 8%;Telfair, 8...

HI - Legislature approves IRC conformity update
The Hawaii Legislature has approved a bill that would update Hawaii’s Internal Revenue Code tie-in date for computing corporate and individual income tax liability. If signed by the governor, the bi...

ID: Withholding tables updated for 2025
The Idaho State Tax Commission has updated the income tax withholding tables for 2025, due to a law change that lowered the tax rates. This includes updating the Idaho Child Tax Credit Allowance Table...

IL - Taxation of assist crane rental addressed
Illinois issued a general information letter addressing the taxation of an assist crane in the possession and control of the lessor's operator. An assist crane is used to assemble and disassemble towe...

IA - Taxpayer not nonprofit hospital entitled to exemptions
Taxpayer, a nonprofit corporation, appealed the district court’s decision dismissing its petition for judicial review and affirming the Department’s denial of taxpayer’s refund claims seeking sa...

MD - Tax on cannabinoid beverages clarified
Recent legislation has clarified that cannabinoid beverages are not food exempt from Maryland sales and use tax.Cannabinoid beverages are those that contain five milligrams or less of tetrahydrocannab...

MA - Interest rates hold steady for the second quarter of 2025
The interest rates on the underpayment and overpayment of Massachusetts taxes are unchanged for the period April 1, 2025, through June 30, 2025.The rate for overpayments is 6%; andThe rate for underpa...

NV - Regulation on reduction of taxable value amended
Nevada has amended its regulation on the deduction of obsolescence from the taxable value of property. In determining the amount of obsolescence to be deducted, the State Board and the county boards o...

NM - High-wage jobs tax credit threshold job definition modified
New Mexico has enacted legislation making a minor adjustment to the high-wage jobs tax credit by changing the definition of a “threshold job.” Threshold jobs are used in the tax credit to track a ...

NY - Aunt wins dispute on qualifying child credits
A New York administrative law judge ruled in favor of a petitioner disputing a personal income tax issue that hinged on the question of whether she could claim her nephew as a qualifying child for pur...

NC: Interest rate remains at 7% for second half of 2025
The interest rate on North Carolina tax assessments (underpayments) and refunds (overpayments) for the period July 1, 2025, through December 31, 2025, remains at 7%. Interest Rate, North Carolina Dep...

ND - Child care contribution credit enacted for employers
North Dakota has created a corporate and personal income tax credit for employers that provide child care contributions. The total credit available to each qualified employer equals 50% of the taxpaye...

OH - Lake County increases tax rate
Ohio has announced a change in the sales and use tax rate for Lake County that will be effective July 1, 2025. The rate will increase from the current 7.0% to 7.25%. Tax Rates and Changes, Ohio Depar...

OR - Court upholds partial repatriation amount inclusion in sales factor
The Oregon tax court did reconsider a previous decision concluding that deemed dividends arising under Subpart F must be reincluded in the sales factor for a corporation excise (corporate) taxpayer's ...

PA - Administration launches online petition center for taxpayers to file appeals
Pennsylvania launched a new online platform to provide an improved tax appeals process for taxpayers. The new Board of Appeals Online Petition Center offers an improved user interface, a feature to ...

TN - Taxpayers allowed to make discretionary additions to net earnings
Under a recent Tennessee excise tax amendment, taxpayers may, at their discretion, add back to net earnings (1) amounts taken as deductions from federal taxable income that are also allowed to be take...

TX - Restaurant marketing subscription bundles
The Texas Comptroller’s office has issued a private letter ruling determining that a taxpayer's bundled marketing services provided to bars and restaurants—offered through subscription packages—...

UT - Withholding tax guide revised
The Utah State Tax Commission has updated its withholding tax guide, effective June 1, 2025. The income tax withholding tables are effective for pay periods beginning on or after June 1, 2025.The publ...

VA - Extension of due dates for tax returns and payments for winter storm and flooding victims announced
The Virginia Department of Taxation announced that it will provide relief to taxpayers affected by the severe winter storms and flooding that began February 10, 2025.Relief for Late Individual and Fid...

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