HB2288 Summary

• Changes the threshold for quarterly tax payment authorization from $500-$1,250 to $2,000-$8,000 in estimated annual liability for transaction privilege and affiliated excise taxes.

• Changes the threshold for annual tax payment authorization from $500 or less to less than $2,000 in estimated annual liability, and makes both quarterly and annual payment authorizations mandatory ("shall") rather than discretionary ("may").

• Modifies Section 42-5014(G) to require tax returns to "capture data with sufficient specificity to meet the needs of all taxing jurisdictions" in addition to being made on department-prescribed forms.

• Makes technical corrections including changing "upon" to "on" in subsections F and G.

• Becomes effective December 31, 2014.