Last week Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of the legislative package of spending bills. President Trump signed the legislation on Friday to implement the first major retirement plan legislation since the Pension Protection Act of 2006. As often occurs with major Tax legislation, employers will need to quickly review the legislation as some of the provisions are effective as early as January 1, 2020.  The following are some of the important provisions in the 119 pages of legislation.

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In a long awaited decision reversing 26 years of existing precedent, on June 21st the United States Supreme Court ruled in South Dakota  v. Wayfair, Inc., that states and other taxing jurisdictions could require out of state retailers to collect sales tax on online sales even though the retailers had no physical presence in the taxing jurisdiction.

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Recently enacted House Bill 2 includes a tax amnesty plan for all New Hampshire taxes collected by the Department of Revenue Administration.  This is the first New Hampshire general tax amnesty program since 2001 and includes taxes such as the Business Profits Tax, the Business Enterprise Tax, the Real Estate Transfer Tax, the Interest and