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State Tax Updates Impacting Businesses in Illinois, Maine, Michigan, New Jersey, Vermont, Tennessee, Texas, and Washington

  • Illinois Direct Pay Permit holders must review purchase activity annually
  • Maine will impose sales tax on leased or rented tangible personal property payments starting in 2025
  • Michigan clarified taxation on non-fungible tokens representing ownership interest in tangible property
  • New Jersey exempts sales of investment metal bullion and coins from sales and use tax
  • Vermont will tax sales of prewritten computer software starting in 2024
  • Tennessee exempts piping for municipal fresh water plant from sales and use tax
  • Texas exempts materials for new construction of railroad tracks from sales and use tax
  • Washington extends tax rate and exemption on gases and chemicals for semiconductor production until 2033

Source: weaver.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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