ME - Maine decouples from IRC Sec. 168(k)
For tax years beginnning in 2025, Maine decouples from IRC Sec. 168 (k) by requiring a corporate and personal income tax addition to federal gross income equal to the net increase in depreciation attr...
MA - Individual mandate penalty for 2026 announced
Massachusetts issued guidance on personal income taxes regarding individual mandate penalties for 2026 under the Massachusetts Health Care Reform Act. The penalties apply to adults 18 and older who ar...
NY - Reinsurance allocation percentages released
New York has released the current list of reinsurance allocation percentages for insurance franchise tax purposes. The Department of Taxation and Finance advises that the percentage listed for a parti...
VT - New local option taxes announced
Vermont announced that the towns listed below will have new local option taxes, effective July 1, 2026.Local Option Sales Tax. The following municipalities are adding a 1% local option sales tax: Bris...