Section R15-5-2213. Alternative Reporting

A.      The Department shall authorize taxpayers to report on an annual or quarterly basis, if the taxpayer has established a fil- ing history that shows that the taxpayer is not currently delin- quent and that the taxpayer’s annual tax liability is between

$500 and $1250 for quarterly reporting or $500 or less for annual reporting.

B.       The Department shall authorize new businesses that reason- ably estimate their annual tax liability for the succeeding 12 months will be between $500 and $1,250 to report and remit tax on a quarterly basis.

C.      A taxpayer shall increase the reporting frequency to monthly and notify the Department of the change in reporting if the tax- payer’s annual tax liability equals or exceeds or can reason- ably be expected to equal or exceed $1,250. The taxpayer shall increase the reporting frequency to quarterly and notify the Department of the change in reporting if the taxpayer’s annual tax liability exceeds or can reasonably be expected to exceed

$500, but is or will be less than $1,250. Failure to increase reporting frequency will subject the taxpayer to interest. Fail- ure to increase reporting frequency will also subject the tax- payer to penalties unless the taxpayer can show that the failure was due to reasonable cause and not willful neglect.

D.      A taxpayer shall begin to report on a monthly basis at any time during a 12-month period if the annualized tax liability for the taxpayer reporting on an annual or quarterly basis equals or exceeds $1,250. A taxpayer shall begin to report on a quarterly basis at any time during a 12-month period if the annualized tax liability for the taxpayer reporting on an annual basis is expected to exceed $500, but be less than $1,250.

Historical Note

Former Section R15-5-2213 renumbered to R15-5-2211, new Section R15-5-2213 adopted effective October 14, 1993 (Supp. 93-4). Amended by final rulemaking at 7

A.A.R. 5065, effective October 5, 2001 (Supp. 01-4).