AK SB133

Requires all taxpayers to electronically submit tax returns and reports to the Department of Revenue in a department-prescribed format, with a $25 or 1% penalty (whichever is greater) for non-compliance unless exemption is granted or reasonable cause is shown.

Allows taxpayers to request a two-year exemption from electronic submission requirement by demonstrating lack of capability; exemptions may be renewed after the two-year period expires.

Increases cigarette excise tax rate to 112 mills per cigarette (eliminating previous tiered rate structure) and increases tobacco product excise tax rate from 75% to 100% of wholesale price.

Creates new tax on electronic smoking devices at 100% of wholesale price; defines electronic smoking devices to include electronic cigarettes, cigars, cigarillos, pipes and related components/solutions, excluding FDA-approved drugs and separately-sold batteries.

Takes effect July 1, 2016, except Department of Revenue authority to adopt implementing regulations takes effect immediately.