Michael Bologna

Chicago

Staff Correspondent at Bloomberg Industry Group

Staff Correspondent at Bloomberg Tax

Journalist at Bloomberg Tax, obsessed with state & local tax news and #FOIA, but I also love dogs. Send tax tips to [email protected], stories @tax

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Articles

Looming Penny Shortage Has Sales Tax Officials Racing the Clock

2 weeks ago | news.bloomberglaw.com | Michael Bologna |Amelia Gruber Cohn

The US Treasury will stop minting pennies within the next month, leading to shortages at cash registers as soon as January and leaving little time for state tax administrators to respond to a heap of potential problems, state and federal officials said Wednesday.
Looming Penny Shortage Has Sales Tax Officials Racing the Clock

2 weeks ago | flipboard.com | Michael Bologna

10 hours agoA new report from Environmental Working Group found that of more than 2,200 SPF products tested, only about 25% of them were deemed as safe and effective options — but the group’s standards are not the same as the FDA’s. NBC’s Anne Thompson reports for TODAY to break down the results.
Looming Penny Shortage Has Sales Tax Officials Racing the Clock

2 weeks ago | news.bloombergtax.com | Michael Bologna

The US Treasury will stop minting pennies within the next month, leading to shortages at cash registers as soon as January and leaving little time for state tax administrators to respond to a heap of potential problems, state and federal officials said Wednesday.
Georgia, Nebraska, Ohio Sanctioned by Sales Tax Uniformity Group

2 weeks ago | news.bloombergtax.com | Michael Bologna

The Streamlined Sales Tax Governing Board leveled sanctions on Georgia, Nebraska, and Ohio Tuesday, finding the states weren’t in compliance with the group’s sales tax simplification pact and failed to remedy their conflicts. The 24-state governing board examined a report of the compliance gaps within each state before voting unanimously to recommend penalties.
States Offer Tax Guidance on Digital Keys for Software, Gaming

2 weeks ago | news.bloombergtax.com | Michael Bologna

A plan to improve state sales tax administration for digital keys used to access software, online games, subscriptions, and other products and services advanced Monday during a meeting of tax administrators. A separate proposal that would minimize opportunities for double taxation of products sold through home-delivery services like Instacart, GrubHub and DoorDash was defeated during the same meeting.
Penny’s Threatened Death Drives States to Rethink Sales Tax Math

2 weeks ago | news.bloomberglaw.com | Michael Bologna

Federal penny plans would impact state tax codesMany would have to amend rounding calculations State tax administrators are preparing for a retail environment without pennies as cost-cutting momentum grows for the US Treasury to stop minting the zinc and copper coins. Three multistate organizations focused on revenue policy are examining the emerging penny proposals and the possible impact on state sales and excise tax programs.
Penny’s Threatened Death Drives States to Rethink Sales Tax Math

2 weeks ago | news.bloombergtax.com | Michael Bologna

State tax administrators are preparing for a retail environment without pennies as cost-cutting momentum grows for the US Treasury to stop minting the zinc and copper coins. Three multistate organizations focused on revenue policy are examining the emerging penny proposals and the possible impact on state sales and excise tax programs. The groups have also had informal meetings with the Treasury Department, with much of the discussion focused on how and when one-cent coins might be retired.
States Want Tax Preemption Language Stripped From Budget Bill

3 weeks ago | news.bloombergtax.com | Michael Bologna

The National Conference of State Legislatures wants Congress to strip restrictive interstate commerce language from a House budget reconciliation bill, contending the provision would impact revenues and infringe on states’ taxing authorities. In a letter to House Budget Chairman Rep.
SALT Workaround Used by Doctors, Lawyers Axed in GOP Tax Bill

3 weeks ago | news.bloomberglaw.com | Michael Bologna |Laura Mahoney |Andrew Oxford |Amanda Iacone |Zach Cohen |Chris Cioffi

House GOP bill narrows scope of pass-through entity taxesPartnerships offering professional services impactedHouse Republicans’ bill to extend and expand Trump’s 2017 tax law would also raise revenue by cutting many professional service providers out of using state workarounds for the cap on state and local tax deductions.
SALT Workaround Used by Doctors, Lawyers Axed in GOP Tax Bill

3 weeks ago | news.bloomberglaw.com | Andrew Oxford |Zach Cohen |Chris Cioffi |Michael Bologna

House Republicans’ bill to extend and expand Trump’s 2017 tax law would also raise revenue by cutting many professional service providers out of using state workarounds for the cap on state and local tax deductions.