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HI HB118
Bill
Status
Introduced
1/21/2011
Primary Sponsor
Henry Aquino
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AI Summary
- Establishes a 30-day grace period for monthly general excise tax payments if the return is timely filed or payment qualifies under section 237-33
- Increases the quarterly filing threshold from $4,000 to $12,000 in annual tax liability for small businesses
- Establishes a 90-day grace period for quarterly payments and a 180-day grace period for semiannual payments if returns are timely filed
- Allows delinquent tax payments to be submitted with the annual return if all applicable returns are timely filed and the taxpayer submits a letter of hardship deemed reasonable by the director of taxation
- Applies to taxable years beginning after December 31, 2010
Legislative Description
General Excise Tax
Last Action
(H) The committee(s) recommends that the measure be deferred.
2/15/2011
Committee Referrals
Economic Revitalization & Business1/24/2011
Full Bill Text
No bill text available