- Thirty-five states have major taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. changes taking effect on January 1, 2020.
- Arkansas, Tennessee, and Massachusetts will each see reductions in their individual income taxAn individual income tax (or personal income tax) is levied on the wages, salaries, investments, or other forms of income an individual or household earns. The U.S. imposes a progressive income tax where rates increase with income. The Federal Income Tax was established in 1913 with the ratification of the 16th Amendment. Though barely 100 years old, individual income taxes are the largest source of tax revenue in the U.S. rates.
- Five states (Iowa, Kansas, Maine, North Carolina, and Ohio) will see notable changes to their individual income tax bases.
- Corporate income, capital stock, franchise, or similar taxes on businesses or financial institutions will decrease or be eliminated in seven states (Connecticut, Florida, Illinois, Indiana, Missouri, Mississippi, and New Jersey), but taxes will increase on certain financial institutions in Washington.
- Oregon will implement a new Corporate Activity Tax (CAT), which is a modified gross receipts taxA gross receipts tax is a tax applied to a company’s gross sales, without deductions for a firm’s business expenses, like costs of goods sold and compensation. Unlike a sales tax, a gross receipts tax is assessed on businesses and apply to business-to-business transactions in addition to final consumer purchases, leading to tax pyramiding. (GRT).
- Florida is the lone state with a general sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. Many governments exempt goods like groceries; base broadening, such as including groceries, could keep rates lower. A sales tax should exempt business-to-business transactions which, when taxed, cause tax pyramiding. rate change (a reduction).
- Five states will see changes to their estate taxes. Connecticut, Minnesota, Vermont, and New York will see increases in their estate taxAn estate tax is imposed on the net value of an individual’s taxable estate, after any exclusions or credits, at the time of death. The tax is paid by the estate itself before assets are distributed to heirs. exemptions (taxpayer-friendly provisions), while Hawaii’s estate tax will become more burdensome.
- Two states (Illinois and Louisiana) will implement new excise taxes on cannabis products.
- Three states (Maine, Nevada, and New Hampshire) will begin applying excise taxes to vapor products.
- Four states (Hawaii, Illinois, Michigan, and Wisconsin) will begin requiring marketplace facilitators to collect sales taxes.
- Three states (Arizona, Georgia, and Washington) will modify the economic nexus threshold in their remote sales tax collection requirements.
- Two states (Hawaii and Pennsylvania) will begin using Wayfair-like standards to determine economic nexus for income tax purposes.
- Two states (Connecticut and Virginia) will see notable changes to their sales tax baseThe tax base is the total amount of income, property, assets, consumption, transactions, or other economic activity subject to taxation by a tax authority. A narrow tax base is non-neutral and inefficient. A broad tax base reduces tax administration costs and allows more revenue to be raised at lower rates. . (Connecticut’s sales tax base will broaden to additional consumer goods and services, while Virginia’s base will become narrower.)
- Six states (Arkansas, Maryland, Missouri, New Hampshire, New Mexico, and Tennessee) will see various changes to their corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax. base or apportionmentApportionment is the determination of the percentage of a business’ profits subject to a given jurisdiction’s corporate income or other business taxes. U.S. states apportion business profits based on some combination of the percentage of company property, payroll, and sales located within their borders. formulas.
- Various road user taxes and fees will change in Illinois, Kansas and Nevada.
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To say that 2018 and 2019 were “big years” in state tax policy would be quite the understatement. With a major overhaul of federal individual and corporate income tax systems in December 2017, followed by the U.S. Supreme Court’s South Dakota v. WayfairSouth Dakota v. Wayfair was a 2018 U.S. Supreme Court decision eliminating the requirement that a seller have physical presence in the taxing state to be able to collect and remit sales taxes to that state. It expanded states’ abilities to collect sales taxes from e-commerce and other remote transactions. decision impacting interstate sales tax collections the following June, states have spent the past two years reacting to major federal policy changes, in addition to enacting many of their own state-specific reforms.
While many state responses to the 2017 Tax Cuts and Jobs Act (TCJA) and the 2018 Wayfair decision have already taken effect, a number of additional policy changes, whether reactions to federal law or otherwise, are slated to take effect as we ring in the new year on January 1, 2020. Altogether, 34 states have major tax changes taking effect at the start of the new calendar year.
The individual and corporate income tax rate changes are shown in the table below.
Note: The corporate income and franchise tax rates in Florida were set to revert back to the 2018 rate of 5.5 percent, but legislation was enacted extending the 2019 rates to 2020 and 2021. Source: State statutes.
|State||Top Rate (2019)||Number of Brackets (2019)||Top Rate (2020)||Number of Brackets (2020)|
Individual Income Tax
|Arkansas||6 percent (middle-income earners); 6.9 percent (high-income earners)||6 (middle-income earners); 6 (high-income earners)||5.9 percent (middle-income earners); 6.6 percent (high-income earners)||6 (middle-income earners); 4 (high-income earners)|
|Tennessee||2 percent (investment income only)||Single-rate tax||1 percent (investment income only)||Single-rate tax|
|Massachusetts||5.05 percent||Single-rate tax||5.00 percent||Single-rate tax|
Corporate Income Tax
|Florida||4.458 percent||Single-rate tax||4.458 percent*||Single-rate tax|
|Missouri||6.25 percent||Single-rate tax||4.0 percent**||Single-rate tax|
|New Jersey||11.5 percent (including a 9 percent base rate and a 2.5 percent surcharge)||4||10.5 percent (including a 9 percent base rate and a 1.5 percent surcharge)||4|
Arizona adopted an Internal Revenue Code (IRC) conformity bill, House Bill 2757, in May 2019, which also included adjustments to the state’s Wayfair response. While several of this law’s provisions were retroactive and have already taken effect, a change in the safe harbor for small remote sellers will take effect on January 1, 2020. Specifically, the de minimis exemption for remote sellers will drop from $200,000 to $150,000. Remote sellers exceeding this amount in direct sales into Arizona for the current or previous calendar year are required to collect the transaction privilege tax (TPT), Arizona’s unique sales tax. This safe harbor is scheduled to drop even further, to $100,000, in 2021.
Arkansas recently enacted a series of tax reforms that will continue phasing in in the new year. Arkansas is unique among states in that it has three entirely different individual income tax rate schedules depending on total taxable incomeTaxable income is the amount of income subject to tax, after deductions and exemptions. For both individuals and corporations, taxable income differs from—and is less than—gross income. . As taxpayers’ income rises, they not only face higher marginal rates but also shift into an entirely different rate schedule. In the new year, Arkansas’s individual income tax rate schedule for high earners, which currently has six marginal income brackets, will be consolidated into four brackets, and the top marginal rate will drop from 6.9 to 6.6 percent. In 2021, this top rate will be reduced even further, to 5.9 percent. For those subject to the middle rate schedule, the top rate will decrease from 6.0 to 5.9 percent this January. On the corporate tax front, the net operating loss (NOL) carryforward period will increase from five to eight years in 2020 and to 10 years in 2021.
Note: The exact brackets will change slightly due to Arkansas’ policy of inflation-adjusting its brackets annually. Source: Act 182, Arkansas 2019.
|Total Income Under $22,200||Total Income Between $22,000 and $79,300||Total Income Above $79,300|
|Income Bracket||Tax Rate||Income Bracket||Tax Rate||Income Bracket||Tax Rate|
In October 2017, former Connecticut Governor Dannel Malloy (D) approved a budget that phased in an increase to the state’s estate and gift tax exemptionA tax exemption excludes certain income, revenue, or even taxpayers from tax altogether. For example, nonprofits that fulfill certain requirements are granted tax-exempt status by the IRS, preventing them from having to pay income tax. , with the intent of conforming to the federal estate tax exemption by 2020. However, the TCJA, enacted in December 2017, nearly doubled the federal estate tax exemption, bringing it to $10 million (indexed for inflationInflation is when the general price of goods and services increases across the economy, reducing the purchasing power of a currency and the value of certain assets. The same paycheck covers less goods, services, and bills. It is sometimes referred to as a “hidden tax,” as it leaves taxpayers less well-off due to higher costs and “bracket creep,” while increasing the government’s spending power. ). As a result, in May 2018, Connecticut enacted a law to extend its own exemption phase-in, such that it will reach $5.1 million in 2020 and will match the federal exemption in 2023.Connecticut
In addition, Connecticut’s budget for fiscal years (FYs) 2020-21, which Gov. Ned Lamont (D) signed into law in June, includes several tax changes that will take effect on January 1st. One such change is that Connecticut will no longer levy a Business Entity Tax (BET). Previously, owners of S corporations, limited liability companies (LLCs), and partnerships paid this tax every other year in the amount of $250. Further, effective January 1st, additional select services will be included in Connecticut’s sales tax base, including parking garages, meters, and related parking services; interior design services; and dry cleaning and laundry services (excluding coin-operated laundry services).
In March 2018, legislation was enacted in Florida to trigger corporate income and franchise tax rate reductions for the 2019 tax year in the event that Florida’s FY 2019 tax collections exceeded adjusted forecasted collections by at least 7 percent. In June 2019, legislation was enacted to extend the trigger to also be available in tax years 2020 and 2021. As a result, in September, the Department of Revenue announced that the corporate income and franchise tax rates would indeed be reduced, from 5.5 to 4.458 percent, retroactive to January 1, 2019, and effective for tax years 2020 and 2021. Further reductions for 2020 and 2021 are possible depending on actual collections for those years.
In addition, effective January 1st, the commercial lease tax, a special sales tax remitted by commercial real estate owners but paid by their tenants, will drop from 5.7 to 5.5 percent.
House Bill 182, signed into law in April 2019, reduced Georgia’s de minimis exemption for small remote sellers from $250,000 to $100,000, effective January 1, 2020.
As of the first of the year, Hawaii will require marketplace facilitators to collect and remit its General Excise TaxAn excise tax is a tax imposed on a specific good or activity. Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and typically make up a relatively small and volatile portion of state and local and, to a lesser extent, federal tax collections. (the state sales tax) when those marketplace facilitators have $100,000 or more in income sourced to Hawaii or at least 200 transactions in the state.
Hawaii also became the first state to align its income tax economic standards with its Wayfair safe harbor. Senate Bill 495, enacted in July 2019, requires income tax filing for any individual, estate, or business with 200 or more transactions or more than $100,000 in sales into Hawaii.
In addition, Act 3, signed into law in April, created a new estate tax bracketA tax bracket is the range of incomes taxed at given rates, which typically differ depending on filing status. In a progressive individual or corporate income tax system, rates rise as income increases. There are seven federal individual income tax brackets; the federal corporate income tax system is flat. , taxing estates valued above $10 million at a rate of 20 percent. This new rate applies to decedents dying in 2020.
Illinois has several tax changes taking effect in January, including a marketplace facilitator sales tax collection law, a marijuana excise tax, a parking excise tax, new and increased vehicle registration fees, the imposition of the sales tax on vehicle trade-ins, and the phaseout of the franchise tax.
As of the first of the year, marketplace facilitators will be required to collect Illinois’ sales tax when those facilitators have $100,000 or more in sales or at least 200 transactions in the state.
Public Act 101-0027, signed into law in June, creates a legal market for recreational marijuana and imposes various excise taxes. These taxes include a 7 percent tax on wholesale sales made to dispensaries, as well as retail excise taxes of 10 percent, 20 percent, or 25 percent depending on tetrahydrocannabinol (THC) content or product type. A local option tax of up to 3 percent will not take effect until July 2020.
The new excise tax on parking services will be paid by drivers for the privilege of parking in a designated space, garage, or other area. The tax will be imposed at a rate of 6 percent of the purchase price for hourly, daily, or weekly parking spaces and 9 percent of the purchase price of parking on a monthly or annual basis. Illinois will also impose new and increased vehicle registration fees and will begin charging sales tax on a vehicle’s trade-in value (on any trade-in above $10,000).
Finally, Illinois’ franchise tax, which has historically been imposed on C corporations doing business in Illinois, will be phased out between 2020 and 2023. In 2020, the first $30 in franchise tax liability will be exempted, and by 2024, no tax will be owed.
Indiana’s financial institutions tax rate will fall from 6.25 to 6.0 percent in 2020 under a phasedown that will reduce the rate to 4.9 percent by 2023. The state’s corporate income tax rate is on a similar phasedown schedule, but rates change each July, not in January.
As of January 1st, Iowa will fully conform to federal expensing provisions under IRC Section 179, while conforming to the federal repeal of the deferral of gain or loss for the like-kind exchange of property. Iowa will also begin conforming to the IRC on a rolling basis.
In 2020, several of Kansas’ individual income tax provisions will become more generous. Currently, Kansas offers five itemized deductions that are linked to the itemized deductions available under the federal code. While Kansas’ deduction for charitable contributions is already on par with the federal provision, other itemized deductions, including for qualified medical and dental expenses, real estate taxes, personal property taxes, and qualified residential interest and mortgage insurance premiums, were offered at a set percentage of the federal provisions. In 2020, these deductions will be offered at parity with the federal provisions. In addition, Kansas’ child and dependent care credit will be offered at 25 percent of the federal amount, up from 18.75 percent.
In addition, starting in January, hybrid and electric vehicles will be subject to annual license fees of $50 and $100, respectively.
House Bill 354, which was signed into law in March, specifies that certain businesses need not file a tangible personal property (TPP) tax return for TPP valued at $1,000 or less.
Act 247, signed into law in June, applies a 3 percent excise tax to the retail sale of cannabidiol (CBD) products.
As of January 1st, Maine’s earned income tax creditA tax credit is a provision that reduces a taxpayer’s final tax bill, dollar-for-dollar. A tax credit differs from deductions and exemptions, which reduce taxable income, rather than the taxpayer’s tax bill directly. (EITC) will increase from 5 to 12 percent of the amount available under federal law, with a few additional modifications. On January 2nd rather than the 1st, Maine’s new vapor tax will take effect, levied at 43 percent of the wholesale price.
Maryland is currently phasing in a new single sales factor apportionment formula for most corporate income. In 2020, the sales factor will be weighted more heavily than in 2019. The phase-in will be complete by tax year 2022.
Massachusetts’ single-rate individual income tax will decline from 5.05 to 5.0 percent, due to the state meeting revenue targets outlined in a tax trigger law that was passed in 2000. The state did, however, adopt a payroll taxA payroll tax is a tax paid on the wages and salaries of employees to finance social insurance programs like Social Security, Medicare, and unemployment insurance. Payroll taxes are social insurance taxes that comprise 24.8 percent of combined federal, state, and local government revenue, the second largest source of that combined tax revenue. , imposed in addition to the income tax, within the past year.
In December, Michigan adopted a package of bills codifying preexisting remote sales tax collection regulations, including a de minimis exemption of $100,000 in sales or 200 transactions, as well as establishing sales tax collection requirements for marketplace facilitators. The marketplace facilitator law takes effect at the beginning of the year.
Legislation enacted in 2017 phased in an increase in the estate tax exemption, which will reach $3 million for 2020 and beyond.
Mississippi’s phasedown of its franchise tax, which began in 2018, will continue through 2028. In 2020, the rate will drop to 2.0 mills, down from 2.25 mills in 2019.
Several of Missouri’s recent reforms will take effect on January 1st. Senate Bill 884, enacted in June 2018, reduces the corporate income tax rate from 6.25 to 4.0 percent starting in 2020. This change was partially paid for by requiring most corporations (except for specified industries) to use single sales factor apportionment and market-based sourcing of service income, where, previously, they could select the more favorable of single sales factor or evenly weighted three-factor apportionment.
Separately, Senate Bill 769, which was signed into law in July 2018, requires the franchise tax levied on financial institutions be reduced by the same percentage as the corporate income tax. As a result, the franchise tax rate will be 4.48 percent instead of 7.0 percent moving forward.
Senate Bill 338, signed into law in May 2019, will increase Montana’s lodging sales tax from 3 to 4 percent on January 1st. This 4 percent lodging sales tax will be applied in addition to the existing 4 percent lodging facility use tax, bringing total lodging taxes to 8 percent.
Senate Bill 48, signed into law in May 2019, authorizes counties to impose local diesel taxes of up to 5 cents per gallon, which may be levied starting on January 1st.
In addition, a new fee for electric vehicle licenses will take effect, with an initial fee of $125 and a renewal fee of $80. Revenue will be dedicated to the State Highway Fund.
Finally, Senate Bill 263, enacted in June 2019, imposes a 30 percent excise tax on the wholesale price of vapor products.
In New Hampshire, vapor products will also be subject to excise taxes come January. “Closed cartridge” devices will be taxed at a rate of 30 cents per milliliter of liquid containing nicotine, and “open system” products will be taxed at 8 percent of the wholesale sales price of the container of liquid containing nicotine.
In addition, IRC conformity legislation enacted in September 2019 conforms New Hampshire to the TCJA’s net interest limitation and includes 50 percent of global intangible low-taxed income (GILTI) in the corporate tax base.
House Bill 620, also adopted this past year, modifies the taxation of insurance premiums. Specifically, this legislation establishes a graduated fee schedule for insurance premium taxes (except for surplus lines policies, which will be taxed at a flat rate).
Assembly Bill 4202, enacted in July 2018, established an additional tax rate for taxpayers paying the Corporation Business Tax with taxable New Jersey net income above $1 million. This rate was set at 2.5 percent for 2018 and 2019 but partially sunset to 1.5 percent for 2020 and 2021, bringing the top rate from 11.5 to 10.5 percent, still higher than the 9 percent ordinary top marginal rate.
In April 2019, a large package of corporate tax changes (House Bill 6) was adopted. While different provisions carry different effective dates, as of January 1st, New Mexico will require mandatory worldwide combined reporting for unitary groups unless the group makes a water’s edge combined or consolidated group election under the federal code, in which case they can make such an election for New Mexico taxation purposes but must do so for at least seven years in a row.
New York’s FY 2020 budget, signed into law in April 2019, includes an increase in the estate tax’s basic exclusion amount, raising it from $5.74 million to $5.85 million for 2020.
Senate Bill 557, enacted in November 2019, includes several tax changes. As of January 2020, the standard deductionThe standard deduction reduces a taxpayer’s taxable income by a set amount determined by the government. It was nearly doubled for all classes of filers by the 2017 Tax Cuts and Jobs Act as an incentive for taxpayers not to itemize deductions when filing their federal income taxes. will increase by 7.5 percent for all filing statuses, and market-based sourcing will be used to apportion income for purposes of calculating corporate income and franchise tax liability.
Under its individual income tax system, Ohio applies different rates to business and non-business income. Currently, Ohio’s business income deduction (BID) allows pass-through businessA pass-through business is a sole proprietorship, partnership, or S corporation that is not subject to the corporate income tax; instead, this business reports its income on the individual income tax returns of the owners and is taxed at individual income tax rates. owners to deduct up to $250,000 in business income before applying the 3 percent tax rate to such income. But under House Bill 166, Ohio’s biennial budget for FYs 2020-21, attorneys and lobbyists will no longer be eligible for this favored treatment.
House Bill 3427, signed into law in May 2019, created a new Corporate Activity Tax (CAT), making Oregon one of only two states (joining Delaware) to impose both a corporate income tax and a gross receipts tax (GRT). Oregon’s CAT will apply to all business entities that have Oregon income above $1 million, and it will be imposed at a rate of 0.57 percent of Oregon gross receipts above $1 million, plus $250.
The Pennsylvania Department of Revenue issued a bulletin in September 2019 establishing the Commonwealth’s new post-Wayfair remote sales tax thresholds as the economic nexus thresholds for corporate tax purposes as well. As a result, starting in 2020, Pennsylvania will require businesses to file a Pennsylvania Corporate Net Income Tax (CNIT) return if they have $500,000 in gross receipts sourced to Pennsylvania, even if the business has no physical presence in the state. Previously, Pennsylvania was one of the few states to limit its corporate tax to businesses which established physical presence.
Tennessee’s “Hall Tax,” which applies to investment income but not to wage income, will continue to phase out, with the rate dropping from 2 to 1 percent for 2020. Starting in 2021, Tennessee will be among the states with no individual income tax.
In addition, Senate Bill 2119, signed into law in May 2018, decouples from the net interest limitation under IRC section 163(j), effective in January.
Just this month, the Utah legislature adopted a comprehensive tax reform package that the governor has said he will sign. While the law will not be formally enacted until mid-February, the income tax rate changes will be retroactive to January 1, 2020. The state’s flat individual and corporate income tax rates will both be reduced from 4.95 to 4.66 percent, and in April, the sales tax base will broaden to select new goods and services.
In June 2019, House Bill 541 was enacted, which phases in an increase to Vermont’s estate tax exemption. For 2020, the exemption will increase to $4.25 million, up from $2.75 million in 2019.
House Bill 2540 and Senate Bill 1715, signed into law in March 2019, modify the classification of feminine hygiene products and diapers such that they will be taxed at a reduced state sales tax rate of 1.5 percent instead of the general state sales tax rate of 4.3 percent. (The 1 percent local option sales tax rate will also apply, bringing the total tax rate on such products to 2.5 percent.) Until now, only unprepared foods have been subject to the preferential state sales tax rate.
Substitute House Bill 2167, signed into law in May 2019, imposes an additional 1.2 percent business and occupation (B&O) tax on financial institutions that are members of a consolidated group having at least $1 billion in annual net income.
In addition, Senate Bill 5581, signed into law in March 2019, modifies the state’s economic nexus statute to drop the 200 transactions threshold. Moving forward, remote sellers will only be required to collect the state’s sales tax if they have over $100,000 in sales into Washington, instead of the lesser of $100,000 in sales or 200 transactions.
House Bill 2001, signed into law in March 2019, initiated a phaseout of taxes on Social Security benefits for taxpayers with income not exceeding $50,000 (single filers) or $100,000 (married filing jointly). In tax year 2020, 35 percent of a qualifying taxpayer’s benefits will be exempt from income taxes. This exemption is scheduled to increase to 65 percent in 2021 and to 100 percent in 2022.
2019 Wisconsin Act 10, enacted in July 2019, will take effect on January 1st. This new law requires marketplace facilitators to collect sales taxes on behalf of marketplace sellers when the marketplace facilitators meet the state’s economic nexus threshold of over $100,000 in sales or 200 transactions into Wisconsin.
This year was a significant one for state tax policy, and the wide range of changes taking effect January 1, 2020, reflects the scope and intensity of that activity. With states continuing to grapple with the taxation of international income, collections obligations for remote sellers and marketplace facilitators, and potential new tax regimes for marijuana, vapor products, and sports betting (no tax changes for the latter taking effect yet on January 1), to name only a few, the coming year is unlikely to be any quieter.
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 Mary Kay McCalla Martire, and Lauren A. Ferrante, “Illinois Fiscal Year 2020 Income and Franchise Tax Changes,” The National Law Review, June 13, 2019, https://www.natlawreview.com/article/illinois-fiscal-year-2020-income-and-franchise-tax-changes.
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 Carl York, “2019 Legislative Changes & Enactments,” Kansas Department of Revenue, https://www.ksrevenue.org/pdf/2019LegislativeChanges.pdf.
 “2019 Kentucky Tax Changes,” Kentucky Department of Revenue, Apr. 15, 2019, 4, https://revenue.ky.gov/News/PublishingImages/Pages/2019-Kentucky-Tax-Changes/2019%20Kentucky%20Tax%20ChangesV3.pdf.
 “CBD Products Subject to Tax in Louisiana, Effective January 1, 2020,” Sales Tax Institute, June 27, 2019, https://www.salestaxinstitute.com/resources/cbd-products-subject-to-tax-in-louisiana.
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 “Twist-Q – 2018 Summary of Developments,” KPMG, 24, https://tax.kpmg.us/content/dam/tax/en/taxwatch/pdfs/2018/twist-q-checklist-december-2018.pdf.
 Mary Markos, “Massachusetts Income Tax Drops to 5% Flat Rate – 20 Years After Passage,” Boston Herald, Dec. 16, 2019, https://www.bostonherald.com/2019/12/13/massachusetts-income-tax-drops-to-5-flat-rate-20-years-after-passage/.
 “Michigan Governor Signs Marketplace Facilitator Bills,” TaxNotes, Dec. 16, 2019, https://www.taxnotes.com/tax-notes-today-state/marketplace-facilitators/michigan-governor-signs-marketplace-facilitator-bills/2019/12/16/2bpg9 [paywall].
 “State Death Tax Chart,” The American College of Trust and Estate Counsel, Aug. 2, 2019.
 Joseph Bishop-Henchman, “Mississippi Approves Franchise Tax Phasedown, Income Tax Cut,” Tax Foundation, May 16, 2016, https://taxfoundation.org/mississippi-approves-franchise-tax-phasedown-income-tax-cut/.
 “S.B. 884, Modifies Provisions Relating to Taxation,” Missouri House of Representatives, 2018 Regular Session, https://senate.mo.gov/18info/BTS_Web/Bill.aspx?SessionType=R&BillID=71207714.
 “Twist-Q – 2018 Summary of Developments,” 25.
 “Lodging Facility Sales and Use Tax,” Montana Department of Revenue, https://mtrevenue.gov/taxes/miscellaneous-taxes-and-fees/lodging-facility/.
 “S.B. 181, An ACT Relating to Special License Plates,” Nevada Legislature, 80th (2019) Session, https://www.leg.state.nv.us/App/NELIS/REL/80th2019/Bill/6309/Overview.
 “Technical Information Release TIR 2019-008,” New Hampshire Department of Revenue Administration, Dec. 9, 2019, https://www.revenue.nh.gov/tirs/documents/2019-008.pdf.
 “New Hampshire Advances IRC Conformity Date,” Grant Thornton, Oc. 21, 2019, https://www.grantthornton.com/library/alerts/tax/2019/SALT/K-O/NH-advances-IRC-conformity-date-10-21.aspx.
 “RYP Tax Alert,” Rath Young Pignatelli, August 2019, http://www.rathlaw.com/wp-content/uploads/2019/08/RYP-NH-Tax-Alert-August-2019.pdf.
 “Twist-Q – 2018 Summary of Developments,” 3.
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Errata: An earlier version of this paper, in the Key Findings, mistakenly listed New Jersey among the states seeing a corporate income tax rate increase rather than a reduction. It has been corrected.
Addendum: This paper has been updated to mention new and increased vehicle registration fees and sales taxes on vehicle trade-ins in Illinois, as well as the phaseout of income taxes on Social Security benefits for qualifying taxpayers in West Virginia.Share