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Coronavirus Tax Coverage

The Texas comptroller of public accounts posted online the November issue of Tax Policy News, highlighting COVID-19 relief available to motor vehicle and sales taxpayers; obtaining a certificate of account status through the Webfile system; upcoming tax webinars; the difference between total revenue and cost of goods sold for franchise tax purposes; purchases of holiday decorations from tax-exempt organizations; and proposed regulations.
Minnesota Republicans have announced that they will submit a COVID-19 financial relief package to the state legislature, which includes a proposal for sales tax holidays for businesses that have been forced to close or limit service because of the pandemic, as well as license fee relief for bars and restaurants.
In news analysis, Martin A. Sullivan reviews the results of four recent economic studies’ estimates of the effect of the Paycheck Protection Program on reducing job losses.
Tax law and accounting professors faced daunting challenges getting up to speed on a whole new way of teaching thanks to the coronavirus, but they’re already discovering new techniques that could persist for years to come.
Minnesota Gov. Tim Walz (DFL) announced that he would work with the state legislature to enact a COVID-19 economic relief package, which includes a tax credit for businesses that donate food that would otherwise be thrown away; a waiver of state and regulatory fees for businesses such as bars, restaurants, and event centers; and an eviction moratorium to help businesses stay in their present locations.
The Maine Department of Administrative and Financial Services released a revenue report for October showing that fiscal 2021 year-to-date collections are $146.3 million — or 11.8 percent — above forecast, partly because of COVID-19 relief allocated to the state under the federal Coronavirus Aid, Relief, and Economic Security Act; October receipts from sales and use tax, individual income tax, and corporate income tax were above budget by $29.6 million, $25.8 million, and $2.9 million, respectively.