HI HB1300

Requires the Department of Taxation to establish a system allowing taxpayers to file all tax returns, applications, reports, and documents electronically, telephonically, or by optical means at no cost to the taxpayer.

Lowers the electronic funds transfer threshold for tax remittance from $100,000 to an unspecified amount in tax liability, and allows payment through the State's internet portal.

Reestablishes the filing and payment deadline for general excise taxes, quarterly filing requirements, and periodic insurance premium taxes to the last day of the month (reversing the advance payment requirement to the 20th).

Eliminates the two percent penalty for non-compliance with electronic filing requirements if reasonable cause is shown, and requires the Department to report annually to the legislature on penalty assessments.

Effective date set for July 1, 2050.