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News & Updates from the MSCPA’s Government Affairs Team
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We're working to keep you informed in a world that changes by the minute. If you have anything you'd like to share, or if we can help you in any way, please reach out to Zach Donah at zdonah@mscpaonline.org or 617.303.2411, or Larry Liuzzo at lliuzzo@mscpaonline.org or 617.303.2405.
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Administration Officials Testify on Governor’s Revised Fiscal Year 2021 Budget
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This week, members of the Governor’s Cabinet testified at a hearing convened by the Joint Committee on Ways and Means to discuss Governor Baker’s revised budget for Fiscal Year 2021. The $45 billion budget raises no taxes, ensures no budget cuts and projects a roughly $3.6 billion revenue shortfall than what was originally forecasted in January 2020, prior to the COVID-19 pandemic.
Administration officials stressed that the budget reflects Massachusetts’ commitment to its people and workers. The Legislature is expected to release its own budget after the November 3 elections.
Governor Baker earlier this week stated that he would like to have a final budget bill on his desk before Thanksgiving, which is five weeks from today.
As we wrote last week, the revised budget calls for a withdrawal of up to $1.35 billion from the Commonwealth’s Stabilization Fund, a figure that could be reduced based on whether tax collections exceed expectations.
A few provisions in the Governor’s budget include sales tax modernization proposals that would:
- Require that vendors file returns for the sales and use tax, the local option meals excise and the room occupancy tax within 30 days after the relevant filing period;
- Require vendors to remit an initial payment of the sales and use tax, the local option meals excise and room occupancy tax, if said vendors collected more than $150,000 in the previous year;
- Require(s) third-party processors (predominantly credit card companies) to remit to the Commonwealth on a daily basis, the portion of a sale that is attributable to sales tax, with an effective date of July 1, 2024; and
- Impose civil penalties on those who sell or install "zapper" software, which is software that falsifies the electronic records of electronic cash registers and other point-of-sale systems.
The Governor also included language relative to partnership audits, which would enable the Department of Revenue (DOR) to collect taxes from partnerships or from individual partners in cases where the partnership accounts for the federal tax as a result of changes in federal partnership auditing rules in order to avoid significant revenue loss.
We will learn more of the Legislature’s priorities in the coming weeks and will update you with more information as we receive it.
| Voter Registration Deadline: Saturday, October 24
| With the November 3 Election Day approaching quickly, so too is the last day to register to vote. All unregistered voters or those wishing to change party affiliation have until this Saturday, October 24 to do so.
To register to vote in the 2020 general election, change your party affiliation or to check your registration status, click here.
| 2020 General Election Information and Voter Resources
| The November 3 general elections are less than two weeks away. Do you have a plan to vote? Where is your polling place? Do you know what Question 1 and Question 2 ask or how you are voting?
Important Election Dates and Links
- To vote early and to find your early voting polling location, click here. (Please note: Early voting ends next Friday, October 30)
- To vote in-person on Tuesday, November 3, polls are open 7:00 a.m. – 8:00 p.m.; and
- To find each candidate who will appear on your ballot, click here.
Question 1: Motor Vehicle Mechanical Data
- A
YES vote would provide motor vehicle owners and independent repair facilities with expanded access to wirelessly transmitted mechanical data related to their vehicles’ maintenance and repair; and
- A
NO
vote would make no change in the law governing access to vehicles’ wirelessly transmitted mechanical data.
Question 2: Ranked-Choice Voting
- A
YES
vote would create a system of ranked-choice voting in which voters would have the option to rank candidates in order of preference and votes would be counted in rounds, eliminating candidates with the lowest votes until one candidate has received a majority; and
- A
NO vote would make no change in the laws governing voting and how votes are counted.
For summaries and the full text of both ballot questions, click here.
For all 2020 general election information and voter resources, click here.
| IRS to Tax Preparers: Renew Preparer Tax Identification Numbers
| In preparation for the 2021 tax season, the IRS is encouraging tax preparers to renew their PTINs before the December 31, 2020 expiration date.
For more information, click here.
| Guidance for Paycheck Protection Program (PPP)
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| DOR Updates
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