The Multistate Tax Commission approved new guidance on P.L. 86-272 that specifically addresses internet activities in the new economy.
The first-in-the-nation digital advertising tax is postponed for one year until 2022 while the state prepares regulations and guidance.
Maryland businesses are getting caught by surprise by a recently enacted law that subjects digital products to sales tax. Digital products may include movies, books, software, and online training and it’s not always straightforward to determine what’s taxable.
State tax planning opportunities to consider in light of COVID-19, the resulting economic crisis and evolving tax laws and regulations.
Few contractors give much thought to state sales tax when they’re installing property improvements for a customer.
Exposure to state tax has been steadily increasing in recent months. From the Wayfair Supreme Court case in 2018 to mounting financial pressures from COVID-19, states are looking at all options to collect revenue they are entitled to.