- Illinois and Maine Changes: Illinois now requires Direct Pay Permit holders to conduct an annual review of their purchase activity for compliance, while Maine will introduce a sales tax on payments for leased or rented tangible personal property starting January 1, 2025.
- Michigan and New Jersey Updates: Michigan clarified that sales of non-fungible tokens (NFTs) representing ownership of tangible property are taxable, whereas New Jersey exempted investment metal bullion and coins from sales and use tax, easing the tax burden for investors.
- Vermont, Tennessee, Texas, and Washington Developments: Vermont will impose sales tax on prewritten computer software starting July 1, 2024; Tennessee ruled that piping for municipal water plants is exempt from tax; Texas exempted materials for railroad construction from sales tax; and Washington extended tax reductions for semiconductor production until December 31, 2033, to support industry growth.
Source Taxually
