ID H0035

Tax return preparers who are paid to prepare more than 25 individual and business tax returns annually must submit returns electronically to the state tax commission effective January 1, 2016, unless the taxpayer requests otherwise in a form prescribed by the commission.

Partnerships and S corporations with more than 100 partners or shareholders must submit returns electronically effective January 1, 2016, unless they request a waiver in a form prescribed by the commission.

Corporations with more than $10,000,000 in assets must submit returns electronically effective January 1, 2016, unless they request a waiver in a form prescribed by the commission.

The state tax commission may impose a penalty not to exceed $5.00 on a paid preparer for each tax return filed in violation of the electronic filing requirements.

Revises the definition of "transmitted electronically" to include the use of third party value added networks for transferring information in machine-sensible form.