The IRS has issued indexing adjustments for the applicable dollar amounts under Code Sec. 4980H(c)(1) and (b)(1), which are used to determine the employer shared responsibility payments (ESRP). This...
The IRS has updated its Conservation Easement website to expand guidance on abusive conservation easement transactions. In the announcement, the IRS stated that promoter-driven conservation easement...
The IRS has advised individual taxpayers that errors in a filed federal return may be corrected by submitting an amended return where key items affecting tax liability have changed. Amendments are gen...
The IRS has highlighted several digital tools and resources available to help small businesses and entrepreneurs manage their tax responsibilities during National Small Business Week. These tools are...
Dadeville, Alabama, will implement a new local rental tax effective June 1, 2026, with the first return due on July 20, 2026. The tax rate is 3% on general rentals, automobile vehicles, truck trailers...
A dispute arose over how to calculate tax credits for the Municipality of Anchorage’s natural gas production. Alaska law taxes the production of natural gas, while also allowing gas producers to cla...
Arizona again updated its guidance on waste tire fees, which apply to businesses selling new motor vehicle tires. This revision updates the version released in April 2026. This May 2026 revision intro...
The following Arkansas local sales tax rate changes are effective July 1, 2026:The city of Van Buren increases its sales and use tax rate to 2.5%.The city of Chester imposes a sales and use tax at a r...
California provides the sales and use tax, sales tax prepayment, and motor vehicle fuel excise tax rates effective July 1, 2026, through June 30, 2027.Sales and Use Tax RatesEffective July 1, 2026, th...
Colorado updated its guidance on sales and use taxes for gasoline and special fuels. In general, gasoline and special fuels for which the excise tax has been charged and collected are exempt from sale...
Connecticut enacted legislation that adds personal income tax deductions for compensation received by:members of military honor guard details for attending a veteran's funeral service, effective for t...
Delaware Gov. Matt Meyer delivered a presentation for his fiscal year 2027 budget that includes proposals to increase taxes on cigarettes and other tobacco products and to establish a film tax credit....
The District of Columbia Attorney General issued an opinion on personal and corporate income tax liabilities for tax year 2025. The opinion states that House Joint Resolution 142, disapproving of Emer...
Florida Gov. Ron DeSantis called for a special session of the legislature during the week of June 1 to consider a constitutional amendment on broad property tax relief. The governor's constitutional a...
Georgia has introduced a sales and use tax exemption for tangible property and construction materials used in specific building projects near state-owned convention facilities located on river islands...
Beginning January 1, 2027, the sale of materials, parts or tools to an air carrier will be exempt from Hawaii general excise tax if purchased for aircraft service and maintenance or for the constructi...
daho residents are reminded about previously enacted legislation that provides a sales and use tax exemption for certain small sellers with annual sales of $5,000 or less. The exemption is effective J...
Illinois issued a general information letter discussing the cannabis purchaser excise tax and local taxes on the gross receipts of retailers selling cannabis. The state excise tax is a tax collected f...
This bulletin, regarding bonus depreciation, IRC Sec. 179 expensing, and qualified production property treatment for Indiana income tax purposes, is updated to reflect the state's treatment of qualifi...
Iowa Governor Kim Reynolds has signed legislation establishing a state corporate income tax deduction for net controlled foreign corporation tested income (NCTI), retroactively effective for tax years...
Kansas issued guidance on transient guest tax changes during the 2026 FIFA World Cup from May 15, 2026 to July 25, 2026. The state enacted legislation that temporarily changed the definition of "trans...
Kentucky Gov. Andy Beshear took steps to provide relief from inflation by signing an emergency regulation that will freeze the gas tax rate at 26.4 cents per gallon ahead of an expected increase to 27...
Louisiana voters will be asked to decide three constitutional property tax measures at the statewide election on November 3, 2026.First, voters will be asked to decide whether a surviving spouse of a ...
Data centers beginning operation on or after August 1, 2026, are excluded from Maine's Business Equipment Tax Exemption (BETE) and Dirigo Business Incentives Program. L.D. 713 (H.P. 452), Laws 2026, e...
The subtraction from Maryland personal income tax for public safety employee retirement income is Increased from $15,000 to $20,000 by tax year 2030. The subtraction is phased in over the next five ye...
Massachusetts announced an increase of the quarterly interest rates on overpayments and underpayments of income taxes. The rates for the period July 1, 2026, through September 30, 2026, are:overpaymen...
The Michigan Department of Treasury has released a list of certified community foundations for tax year 2026 for purposes of the Michigan business tax credit for contributions to community foundations...
The Minnesota Legislature has approved an omnibus tax bill that, if signed by the governor, would notably:update Minnesota's IRC tie-in date for income and franchise tax purposes to May 1, 2026, with ...
Mississippi issued a notice regarding the effect of recent legislation on the Tupelo Water Procurement Facility Tax. Effective May 1, 2026, retail sales within the City of Tupelo of groceries taxed at...
Missouri issued a ruling on personal income tax treatment for a taxpayer regarding capital gains subtractions for tax year 2025. The ruling determined that the taxpayer cannot increase their Missouri ...
Montana Gov. Greg Gianforte has petitioned the Montana Supreme Court to exercise original jurisdiction and provide an expedited ruling on a recent lawsuit challenging the constitutionality of property...
If a taxpayer has met the required levels of employment and investment for a tier 6 project under the Nebraska Advantage Act and sells or transfers a portion of the business to an entity that is not p...
Nevada's Department of Taxation has revised the criteria for nonprofit organizations to qualify for sales and use tax exemptions, requiring compliance with enhanced standards. In determining whether a...
The New Hampshire Department of Revenue Administration shared updates and reminders for the 2026 filing season, including information on:form adjustments and updated forms;meals and rentals tax guidan...
New Jersey updated its guidance on the corporation business tax to reflect changes in terminology under the One Big Beautiful Bill Act. Foreign-Derived Intangible Income (FDII) is now referred to as F...
The New Mexico Administrative Hearings Office found that the motor vehicle excise tax exemption for vehicles purchased for long-term lease did not apply to a taxpayer who purchased a vehicle and lease...
Enacted as part of New York's 2026-27 budget package, A.B. 10008 extends through 2032 the provision making the investment tax credit refundable for eligible farmers. Previously, the provision applied ...
Guidance is issued regarding recently enacted legislation, effective July 1, 2025, that changed the North Carolina excise tax rate methodology for snuff, imposed a new excise tax on alternative nicoti...
North Dakota has announced the following local sales and use tax changes effective July 1, 2026: (1) the city of Drayton will increase its city sales, use, and gross receipts tax to 3.5%; (2) the city...
On remand from the Ohio Supreme Court, the Board of Tax Appeals denied a taxpayer’s sales and use tax refund claim, concluding that the true object of the transactions was taxable automatic data pro...
The Oklahoma Tax Commission has announced an additional local sales and use tax change for the period of July 1, 2026 through September 30, 2026. Hominy decreases its sales and use tax rate to 3.0%. R...
Portland has amended its Arts Tax to provide tax relief and enhance the sustainability of the Arts Access Fund.The tax is increased from $35 to $50 on each resident of Portland who is at least 18 in t...
Pennsylvania has extended the deadline for its Property Tax/Rent Rebate (PTRR) program to December 31, 2026, allowing eligible seniors, widows and widowers, and individuals with disabilities additiona...
Rhode Island prepaid sales tax on cigarettes increases to 95 cents (from 90 cents) per pack on July 1, 2026. The prepaid sales tax is calculated annually on April 1 based on the average retail price. ...
For a taxpayer whose corporate headquarters is in South Carolina, a corporate license fee exclusion is enacted for the first $50 million of equity contributions from a qualifying venture capital fund,...
For South Dakota property taxes payable in 2027, and for each year thereafter, the maximum levy for school district general education funds the limit per $1,000 of taxable valuation is:a total of $4.8...
Tennessee enacted a law imposing sales tax on the service of transmitting money from a location originating in the state to a location outside of the United States or its territories, effective Januar...
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period April 2026 is $42.26 per barrel for the three-month period beginning on January ...
The Utah Tax Commission has announced the following sales and use tax changes, effective July 1, 2026:Sigurd (Sevier County) imposes the city or town option sales and use tax at the rate of 0.3%. The ...
The Vermont Senate has passed a bill that, if enacted, would change the state's IRC conformity date from December 31, 2024, to December 31, 2025, applicable to taxable years beginning on and after Jan...
The Virginia Department of Taxation issued an update for taxpayers who itemize deductions on Tax Year 2025 returns. Legislation was enacted generally conforming Virginia to federal tax law as of Decem...
An oil and gas business did not qualify for a Washington use tax exemption for materials and services used in the construction of an oil containment system because it provided operators with the syste...
West Virginia revised guidance on withholding requirements for gambling winnings to reflect an increase in the threshold for federal backup withholding requirements. The minimum federal threshold amou...
Bipartisan legislation that would have used the state’s surplus to provide property tax relief, eliminate state income tax on tipped and overtime income, as well as other provisions, has failed to a...
Wyoming has enacted legislation allowing the Department of Revenue to send notices related to sales and use tax electronically if a taxpayer has provided electronic contact information to the Departme...
Welcome to Figueroa's Income Tax Service
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The 2026 tax season will begin late January, and we are here to make the process simple, accurate, and stressfree for you. With over 36 years serving our community, our goal is to provide honest, reliable, and professional tax preparation service you can trust.
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To check the status of your refund, visit the official IRS website and click on "Where's My Refund?" You will need your social security number, filing status, and the exact refund amount, which can be found in the Your Copy folder we provided.
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