HI HB118

Adds 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 tax liability threshold for quarterly filers from $4,000 to $12,000 annually and adds 90-day grace period for quarterly payments if the return is timely filed or payment qualifies under section 237-33.

Adds 180-day grace period for semiannual general excise tax payments if the return is timely filed or payment qualifies under section 237-33.

Allows delinquent tax payments from the tax year to be submitted with the annual return if all applicable returns are timely filed and the taxpayer submits a hardship letter deemed reasonable by the director of taxation.

Applies to taxable years beginning after December 31, 2010.