- Illinois Compliance Review: Illinois Direct Pay Permit holders are now required to conduct an annual review of their purchase activity to ensure compliance with sales tax reporting for the previous 12 months.
- Maine Sales Tax on Leases: Starting January 1, 2025, Maine will implement a sales tax on payments made for leased or rented tangible personal property, necessitating adjustments for businesses involved in leasing agreements.
- Michigan NFT Tax Clarification: Michigan has clarified that the sale of non-fungible tokens (NFTs) representing ownership in tangible personal property is considered a taxable sale, prompting businesses in the NFT space to reassess their tax liabilities.
- New Jersey Exemption for Precious Metals: New Jersey has exempted the sale of investment metal bullion and investment coins from sales and use tax, providing tax relief for investors in precious metals.
- Vermont Software Sales Tax: Effective July 1, 2024, Vermont will impose sales and use tax on all sales of prewritten computer software, including various delivery methods, which may lead to increased costs for businesses and necessitate pricing strategy adjustments.
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