The Rhode Island Tax Administrator wants to change the way you pay your payroll, sales and use taxes – no more snail mail! Beginning January 1, 2010, any person required to withhold and remit tax under this section with ten (10) or more employees as well as any person required to collect and remit sales and use tax to the state of Rhode Island who had an average monthly sales and use tax liability of two hundred dollars ($200) or more per month must make the payments by electronic funds transfer or other electronic means defined by the tax administrator.Recent legislative changes to RIGL44030-71 state that in the case of failure of any person required to deposit taxes by electronic funds transfer or other electronic means defined by the tax administrator, unless such failure is due to reasonable cause and not due to willful neglect, there shall be added to the amount shown as tax required to have been electronically transferred five percent (5%) of the amount or five hundred dollars ($500) per required payment, whichever is less.
For more information, click here Rhode Island Division of Taxation http://www.tax.state.ri.us/.
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