Overview of the 2026 Texas BPP Tax Change Effective January 1, 2026, Texas significantly increased the small business exemption for Business Personal Property (BPP) from $2,500 to $125,000 of market value. This change was designed to provide broad tax relief to businesses across the state. Unlike the previous exemption—which operated as a simple threshold that taxpayers either qualified for or did not—the new exemption applies automatically, reducing every account’s taxable value by $125,000....

On June 16, 2025, Illinois enacted H.B. 2755, a sweeping tax bill that introduces significant changes impacting corporate taxpayers, pass-through entities, and manufacturers operating in the state. Below is a summary of the most notable provisions you should be aware of: Beginning with tax years ending on or after Dec. 31, 2025, Illinois will allow a 50% deduction for GILTI (Global Intangible Low-Taxed Income).This replaces the prior 100% dividend-received deduction (DRD) for taxpayers with...

Illinois Sales & Use Tax Update: Leases and Digital Services As of January 1, 2025, Illinois will implement significant changes to its...