Citations Affected: IC 6-2.5-6-1.
Synopsis: Sales tax deposits. Increase from $1,000 to $2,500 the
maximum average monthly liability for sales taxes that a retail
merchant may accrue without being required to make monthly deposits
with the department of state revenue.
Effective: July 1, 2005.
January 18, 2005, read first time and referred to Committee on Ways and Means.
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
days after the end of that month.
(b) If a person files a combined sales and withholding tax report and
either this section or IC 6-3-4-8.1 requires sales or withholding tax
reports to be filed and remittances to be made within twenty (20) days
after the end of each month, then the person shall file the combined
report and remit the sales and withholding taxes due within twenty (20)
days after the end of each month.
(c) Instead of the twelve (12) monthly reporting periods required by
subsection (a), the department may permit a person to divide a year into
a different number of reporting periods. The return and payment for
each reporting period is due not more than twenty (20) days after the
end of the period.
(d) Instead of the reporting periods required under subsection (a),
the department may permit a retail merchant to report and pay the
merchant's state gross retail and use taxes for a period covering:
(1) a calendar year, if the retail merchant's average monthly state
gross retail and use tax liability in the previous calendar year does
not exceed ten dollars ($10);
(2) a calendar half year, if the retail merchant's average monthly
state gross retail and use tax liability in the previous calendar year
does not exceed twenty-five dollars ($25); or
(3) a calendar quarter, if the retail merchant's average monthly
state gross retail and use tax liability in the previous calendar year
does not exceed seventy-five dollars ($75).
A retail merchant using a reporting period allowed under this
subsection must file the merchant's return and pay the merchant's tax
for a reporting period not later than the last day of the month
immediately following the close of that reporting period.
(e) If a retail merchant reports the merchant's adjusted gross income
tax, or the tax the merchant pays in place of the adjusted gross income
tax, over a fiscal year or fiscal quarter not corresponding to the
calendar year or calendar quarter, the merchant may, without prior
departmental approval, report and pay the merchant's state gross retail
and use taxes over the merchant's fiscal period that corresponds to the
calendar period the merchant is permitted to use under subsection (d).
However, the department may, at any time, require the retail merchant
to stop using the fiscal reporting period.
(f) If a retail merchant files a combined sales and withholding tax
report, the reporting period for the combined report is the shortest
period required under:
(1) this section;
(2) IC 6-3-4-8; or