Colorado requires the use of updated business tax forms
The Colorado Department of Revenue (DOR) reminds business taxpayers that it is switching its tax return processing system to a new imaging system. The DOR warns that all forms delivered to the department must be the latest version and black ink must be used when completing the form.
In addition, the DOR cautions taxpayers that if they “continue to use outdated Colorado business tax forms, the Department of Revenue cannot process these forms, which may result in a late filing penalty and loss of the vendor/service fee (timely filing discount).”
Connecticut moves important sales tax filing deadlines
The Connecticut Department of Revenue Services (DRS) notifies taxpayers that as a consequence of 2014 legislation changes, the due date for filing and paying Connecticut sales and use tax will move from the last day of the month to the 20th of the month following the close of the reporting period. This deadline change also applies to the business use tax, room occupancy tax, and prepaid wireless E 911 fee.
The DRS will implement this legislation for tax periods beginning on or after Jan. 1, 2015. The filing and payment due date for taxes impacted by this change will be:
- Monthly: Feb. 20, 2015
- Quarterly: April 20, 2015
- Annually: Jan. 20, 2016
Massachusetts rolls out a new tax portal
The Massachusetts Department of Revenue (DOR) informs taxpayers of the development of a new tax system, GeniSys. GeniSys is a web portal that allows taxpayers to register, submit returns, make payments, request information, and review correspondence with the DOR.
As of Nov. 12, 2014, the new system is available for these tax types: International Fuels Tax Agreement (IFTA), Alcoholic Beverages Excise, Ferry Embarkation Fee, and Non-Resident Motor Vehicle Excise.
The 2014 rollout includes nearly 5,000 taxpayers. The largest group of taxpayers is IFTA taxpayers who are required to register annually for truck decals and file quarterly returns with the state.
The second largest group is the Alcoholic Beverages Excise taxpayers, who are required to file monthly returns and make payments based on the amount of alcohol manufactured in the state.
There are currently only seven Ferry Embarkation Fee taxpayers. They are required to file quarterly returns with the commonwealth.
Finally, the Motor Vehicle Excise pertains to bills directed to taxpayers with addresses outside of Massachusetts who owe unpaid Massachusetts excise tax on motor vehicles.
The timeline of deployment for the remaining tax types is scheduled as follows:
- Dec. 2015 rollout: Corporate and trustee taxes
- Dec. 2016 rollout: All remaining excise taxes
- Dec. 2017 rollout: Individual income taxes