AK HB248

Requires taxpayers to submit tax returns and reports to the Department of Revenue electronically in a department-prescribed format, with limited exemptions available upon request if the taxpayer lacks electronic capability.

Imposes a penalty of $25 or one percent of total tax (whichever is greater) on taxpayers who fail to electronically submit required returns or reports unless exempt or able to show reasonable cause.

Doubles excise tax rates on alcoholic beverages: malt beverages and cider from $1.07 to $2.14 per gallon, wine from $2.50 to $5 per gallon, and high-alcohol beverages from $12.80 to $25.60 per gallon.

Doubles the reduced tax rate for qualifying domestic brewers from 35 to 70 cents per gallon on the first 60,000 barrels sold annually.

Takes effect July 1, 2016, with regulations authority granted to the Department of Revenue for implementation.