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1 Katherine Loughead, State Tax Changes Effective July 1, 2020 1 (2020)

handle is hein.taxfoundation/tfsttchng0001 and id is 1 raw text is: State Tax Changes Effective July 1, 2020 FISCAL FACT No. 717 July 2020 The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and global levels. We are a 501(c(3) nonproft organization. ©2020 Tax Foundation Distributed under Creative Commons CC-BY-NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org Katherine Loughead Senior Policy Analyst Key Findings Nineteen states had notable tax changes take effect on July 1, 2020. Indiana had the lone corporate income tax change, with the rate decreasing from 5.5 to 5.25 percent. Two states, Louisiana and Mississippi, began requiring marketplace facilitators to collect sales and use taxes. Illinois now requires remote sellers to collect state and local sales taxes, rather than use taxes. North Carolina now requires marketplace facilitators to collect local meals taxes. New sales tax exemptions took effect in Virginia and Washington. As part of a gradual phaseout, New Jersey reduced the sales tax rate on medical marijuana. Utah, Virginia, and Wyoming have newly begun taxing vapor products, and Kentucky's new vapor tax is scheduled to take effect on August 1. * Virginia doubled its cigarette tax from 30 to 60 cents per pack. Three states-California, South Carolina, and Virginia-increased their statutory excise tax rate on motor fuel. Iowa reduced its excise tax rate on certain ethanol-based motor fuels. Colorado, North Carolina, and Virginia modified various transportation- related user fees.

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