- Latest US sales tax updates for 2024/25 include changes in Illinois, Maine, Michigan, Texas, and other states
- Illinois now requires Direct Pay Permit holders to conduct annual reviews of purchase activity to ensure compliance
- Maine will start taxing payments made for leased or rented tangible personal property starting January 1, 2025
- Michigan deems sales of non-fungible tokens as taxable if they represent ownership in tangible personal property
- New Jersey exempts sales of investment metal bullion and coins from sales and use tax
- Vermont will tax all sales of prewritten computer software starting July 1, 2024, whether it is physically purchased, downloaded, or accessed remotely
- Tennessee exempts contractor purchases of piping for municipal fresh water plants from sales and use tax, classifying it as industrial machinery
- Texas exempts materials used in new construction of railroad tracks or roadbeds from sales and use tax
- Washington extends reduced business and occupation tax rate and sales and use tax exemption for semiconductor production materials until December 31, 2033
Source: taxually.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.
