News & Publications
In Case You Missed It: Last Week in Allyn Tax News (November 22-26)
New York City, NY Issues the City’s Property Tax Rates for the 2022 Tax Year
The New York City Department of Finance has issued that the 2022 property tax rates are: Class 1 property – 19.963%, Class 2 property – 12.235%, Class 3 property – 12.289%, and Class 4 property – 10.755%.
Iowa Issues Guidance for Remote Sellers with Multiple Out-of-State Locations
Iowa defines a remote seller as someone that makes retail sales of tangible personal property, services, or specified digital products into Iowa, but does not have a physical presence in Iowa. A remote seller may make sales into Iowa through a variety of ways including by phone, catalog, or website. If a remote seller has multiple locations and all are outside of Iowa, the seller should determine whether it meets or exceeds the $100,000 threshold based on its total sales from all locations. If the seller does need a sales tax permit, the seller only needs one for its business rather than one for each location.
Reminder of New Mexico’s Small Business Saturday Tax Holiday
The Small Business Saturday tax holiday will take place at 12:01 a.m. to midnight, Saturday, November 27th, 2021, as declared by the New Mexico Taxation and Revenue Department. This holiday allows businesses in New Mexico, with ten employees or less, to deduct gross receipts tax on the sale of items such as toys, games, electronics, books, sporting goods and more - if the price is under $500 per item. However, businesses under a franchise agreement do not qualify for this holiday.
Illinois Sales Tax Matrix Revised
A modified sales tax matrix with assistance on common retail transactions, special situations and exemptions, and references to other taxes and returns has been issued by the Illinois Department of Revenue. This modified matrix, placed in effect August 27, 2021, redefines the term “marketplace facilitator.” The new definition does not include any person licensed under the Auction License Act, however any person who is an Internet auction listing service is still considered a marketplace facilitator. The revised matrix also explains that marketplace facilitators, like food-delivery services, are liable beginning October 1, 2021, for the MPEA Food and Beverage Tax due to their contract with the food and beverage establishment.
Massachusetts Electronic Filing Required Starting in 2022
The Massachusetts Department of Revenue is reminding taxpayers that for certain trustee taxes, December 2021 returns will be the last filing allowed on paper. All sales/use, meals tax, and sales on services filers will be required to submit returns and make payments through MassTaxConnect for tax periods beginning on or after January 1, 2022, including any past-due returns and payments for prior periods.
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For More Information
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Contributor: Courtney Sboro
About Allyn International
Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China, Prague, Czech Republic, and Dubai, U.A.E. For more information, visit www.allynintl.com.