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Home , Maine, Massachusetts, Vermont

I hope this message finds you well,

In support of our vision of keeping you well-informed on what's happening in our state and region, we've collaborated with the other state CPA societies in New to bring you the latest updates on legislation, regulation, and executive announcements.

If you have anything to share or questions/comments, please reach out to us.

Connecticut CTCPA and MSCPA have composed a letter to Congressman Courtney, Congressman Larson, and Congressman Neal voicing support for the Tax Assistance for Crumbling Foundations Act and for the ability of taxpayers with crumbling foundations to file protective claims for casualty losses with the IRS. This legislation will help CT residents who have been devastated by crumbling foundations. To protect residents from double taxation in the 2020 tax year, the is expected to act on SB 873. Section one of this measure prevents employees who worked out-of-state pre-pandemic who have since telecommuted from their Connecticut residence from being double taxed on their income. Read the Connecticut update >>

Massachusetts ' SB 2941, An Act to Modernize Public Accountancy was signed into law by Baker on January 11, 2021. Focused in four parts, this legislation provides necessary technical updates that further strengthens the CPA license and positions accounting firms to adapt more easily to a changing industry. Read the Massachusetts update>>

Maine Governor Mills presented a supplemental budget several weeks ago. On many key tax provisions, the state of will not conform to federal legislation. Read the Maine Update>>

Vermont The General Assembly continues to chug along remotely with its promised focus on COVID-related matters, but not exclusively. The Legislature will soon conclude work on this year’s budget adjustment bill, H.138, with the bill now on the Senate calendar. The bill now also includes Senate-passed S.36, which extends the period of time to spend Coronavirus Relief Funds for certain programs that had faced a December 30, 2020 deadline. Read the Vermont Update>>

New Hampshire & Rhode

New Hampshire & did not submit reports this month.