Budget Amendment ID: FY2018-S3-256
GOV 256
Sales Tax Prepayment
Messrs. Boncore and Rush, Ms. Flanagan, Messrs. Timilty, Moore and Brady and Ms. Lovely moved that the proposed new text be amended at the end thereof by inserting the following new section:-
SECTION XX. Chapter 62C of the General Laws is hereby amended in Section 16 by striking out subsections (g) and (h) in their entirety and inserting in place thereof the following new sections: --
Chapter 62C, Section 16(g)
(1) Every operator, as defined in section one of chapter sixty-four G, subject to taxation under chapter sixty-four G shall file a return with the commissioner for each calendar month. The commissioner may by regulation require returns under this section to be filed on a quarterly rather than a monthly basis or on such other basis as he may determine and to have different filing periods for different groups of operators. Every such return shall be filed within twenty days after the expiration of the period covered thereby.
(2) Every operator, as defined in section one of chapter sixty-four G, subject to taxation under chapter sixty-four G, that has an annual tax liability of $1,000,000 or more during the past 12 consecutive months shall make an estimated payment to the commissioner on or before the 20th day of the month in which the liability occurs. The estimated payment shall be not less than 50% of the liability for the same calendar month of the preceding year.
(3) Every operator that makes an estimated payment as required in subsection two of section 16(g) under chapter sixty-two C that exceeds the actual tax liability for the month in which the liability occurred shall be allowed a credit for the amount of tax overpaid.
Chapter 62C, Section 16(h)
(1) Each vendor who has made any sale taxable under the provisions of chapter 64H, 64I or 64L shall file a return with the commissioner for each calendar month. The commissioner may by regulation require returns under this section to be filed on a quarterly rather than a monthly basis or on such other basis as it may determine and to have different filing periods for different groups of vendors. Every such return shall be filed within twenty days after the expiration of the period covered thereby. A materialman shall file a return with the commissioner each month. Each return shall be filed within 50 days after the expiration of the period covered by the return. The department may require each materialman electing to remit sales and use tax under this section to file an application with the department stating his intention to remit sales and use tax pursuant to this section.
(2) Each vendor who has made any sale taxable under the provisions of chapter 64H, 64I or 64L, that has an annual tax liability of $1,000,000 or more during the past 12 consecutive months shall make an estimated payment to the commissioner on or before the 20th day of the month in which the liability occurs. The estimated payment shall be not less than 50% of the liability for the same calendar month of the preceding year.
(3) Every vendor that makes an estimated payment as required in subsection two of section 16(h) under chapter sixty-two C that exceeds the actual tax liability for the month in which the liability occurred shall be allowed a credit for the amount of tax overpaid.