HI HB1042

Moves the deadline for employers to file duplicate wage and tax statements with the Department of Taxation from the last day of February to January 31 following the close of the calendar year.

Requires employers to furnish statements to employees by the prescribed due date, file statements with the department by the prescribed due date, and electronically file if required under section 231-8.5.

Imposes a penalty of $25 per failure for employers who fail to furnish or file wage and tax statements timely, with a maximum penalty of $50 per employee.

Maintains existing provisions allowing the Department of Taxation to grant reasonable extensions of up to 60 days and to prescribe statement forms.

Takes effect upon approval.