Artificial intelligence, or more commonly AI, seems to be what everyone is talking about nowadays. Businesses are investing hundreds of billions into AI research and, in parallel, integrating AI products into their day-to-day operations in order to maximize business savings and obtain a competitive advantage over their competitors. It is no secret the tax treatment of AI could have profound consequences for businesses. However, most states have not made their position on the taxability of…
Vermont will impose its sales and use tax on sales of remotely accessed software effective July 1, 2024 (Bill H.887). Vermont’s governor originally vetoed the bill, but the legislature overrode the veto on June 17, 2024. Vermont’s definition of “tangible personal property” includes “prewritten computer software,” but the legislature had enacted an exemption for remotely accessed software in 2015. The new legislation expands the “tangible personal property” definition to cover prewritten computer software “regardless of…