2020 -- H 7531 | |
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LC004442 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2020 | |
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A N A C T | |
RELATING TO TAXATION -- STATE TAX OFFICIALS | |
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Introduced By: Representative Marvin L. Abney | |
Date Introduced: February 12, 2020 | |
Referred To: House Finance | |
(Dept. of Revenue) | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 44-1 of the General Laws entitled "State Tax Officials" is hereby |
2 | amended by adding thereto the following section: |
3 | 44-1-31.2. Electronic filing of withholding tax returns and penalties. |
4 | (a) For the purposes of this chapter, “larger business registrant” means any person who: |
5 | (1) Operates as a business whose combined annual liability for all taxes administered by |
6 | the division of taxation for the entity is or exceeds five thousand dollars ($5,000); or |
7 | (2) Operates as a business whose annual gross income is over one hundred thousand |
8 | dollars ($100,000) for the entity. |
9 | (b) Beginning on January 1, 2021, any person defined as a “larger business registrant” is |
10 | required to file returns and remit taxes to the state of Rhode Island electronically. |
11 | (c) Beginning on January 1, 2021, if any person fails to pay said taxes by electronic funds |
12 | transfer or other electronic means defined by the tax administrator as required hereunder, there |
13 | shall be added to the amount of tax the lesser of five percent (5%) of the tax liability amount that |
14 | was not filed electronically or five hundred dollars ($500), whichever is less, unless there was |
15 | reasonable cause for the failure and such failure was not due to negligence or willful neglect. |
16 | (d) Notwithstanding the provisions of § 44-1-31.2(c), beginning on January 1, 2021, if |
17 | any person fails to file a return by electronic means defined by the tax administrator as required |
18 | hereunder, there shall be added to the amount of tax equal to fifty dollars ($50.00), unless there |
19 | was reasonable cause for the failure and such failure was not due to negligence or willful neglect. |
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1 | SECTION 2. This act shall take effect on July 1, 2020. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION -- STATE TAX OFFICIALS | |
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1 | This act would require electronic filing of returns and remittance of payments for certain |
2 | larger business registrants: (1) Businesses whose combined annual liability for wage withholding, |
3 | sales/use tax, and other transactional taxes at or exceeding five thousand dollars ($5,000); or (2) |
4 | Business entities whose annual gross income is over one hundred thousand dollars $100,000). |
5 | This act would take effect on July 1, 2020. |
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