Tax Policy

The Australian Coalition, led by Shadow Small Business Minister Jacinta Nampijinpa Price, firmly opposes a proposed minimum 30% tax on discretionary trusts aimed at small businesses. If implemented, this could lead to increased operational costs and significant restructuring within the sector.

The Massachusetts Legislature has approved a sales tax holiday for August 8-9, 2026. This temporary suspension of the 6.25% tax aims to stimulate consumer spending and support local businesses, especially during the back-to-school season. Procurement professionals should prepare for increased demand and adjust inventory strategies accordingly.

Pennsylvania lawmakers are considering changes to the state's sales tax exemption for data centers amid a projected $2 billion revenue shortfall. This shift could significantly influence procurement strategies for technology vendors and contractors, altering the cost landscape for future projects in the state.

The Department of the Treasury and IRS have enacted new temporary regulations for recovering federal excise tax on dyed fuel. This guidance, applicable to taxpayers who initially paid the tax, outlines eligibility criteria and filing procedures, impacting fuel distributors and contractors involved in excise tax compliance.