Shaking things up in state and local tax
Shaking things up in state and local tax
Friday, June 26, 2020 was “Sine Die” or the 40th and final legislative day of the 2019–2020 legislative session at the Georgia General Assembly.
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The Georgia Department of Revenue released guidance on March 17 clarifying that marketplace facilitators will be required to collect and remit state sales tax being April 1. The bulletin states that marketplace sellers in the state are not required to collect or remit state sales or use tax on retail sales that the marketplace facilitator…
Significant state tax legislation will move forward through the Georgia General Assembly. “Crossover Day” was Thursday, March 11 — the 28th legislative day of 40 total legislative days – the day by which all bills must have passed one legislative chamber in order to cross over and be considered by the other chamber. Bills that…
With the threat of COVID-19 looming, several state legislatures will halt or temporarily suspend their legislative sessions, including: Colorado, Delaware, Connecticut, Georgia, Kentucky, Maine, Maryland, New Hampshire, and Vermont. For many states, this is an unprecedented move while in others, the legislature has not adjourned early since the Civil War. Other state legislatures, like California’s…
On January 30, 2020, Governor Kemp signed Georgia’s marketplace facilitator bill, H.B. 276, into law. Effective April 1, 2020, the law will require marketplace facilitators to collect and remit sales and use tax on behalf of marketplace sellers. It will apply to marketplace facilitators with sales in excess of $100,000 in the state.
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On February 14, 2019, the Georgia House Ways and Means Committee voted in favor of House Bill 182. Effective for January 1, 2020, the bill would amend O.C.G.A. § 48-8-2(8)(M.1) to lower the sales threshold on the requirement to collect or report sales and use tax from $250,000 to $100,000 and would repeal subsection…
The Georgia legislative session concluded on March 29, 2018. In addition to two major bills relating to federal tax reform, Georgia enacted several other pieces of notable tax legislation.
On March 21, 2018, the Georgia Legislature passed SB 328 (the Bill) to exclude IRC § 951A (GILTI ) from Georgia taxable income. The Bill treats GILTI as Subpart F income for purposes of the deduction under OCGA § 48-7-21(b)(8).
The Georgia Legislature has introduced its annual Internal Revenue Code (IRC) conformity bill—HB 821. Georgia conformity is typically updated annually to apply for the most recent tax year. In light of the recently enacted federal tax reform, this year’s conformity bill will receive particular attention because of what tax reform provisions Georgia chooses to adopt…
The Georgia Senate Special Tax Exemption Study Committee held its initial meeting to plan evaluation of Georgia income and sales tax exemptions by December 1, 2017.
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