Thursday, June 14, 2012

Revenue Publishes Informational Bulletin on Sales Tax Returns Filed by Retail Merchants Remitting Taxes by Electronic Funds Transfer

SUBJECT: Sales Tax Returns Filed Monthly if the Retail Merchant Is Remitting by Electronic Funds Transfer

DIGEST OF CHANGES: All retail merchants are required to file and remit sales and use taxes through the Department's online tax filing program (INtax).

HEA 1125-2008 effective Jan. 1, 2009, provides that retail merchants that remit sales tax through electronic funds transfer (EFT) are required to file a monthly return at the same time the remittance is due the Department.

Effective Jan. 1, 2013, all retail merchants and withholding agents are required to file and remit through INtax.

The collection allowance to which a retail merchant is entitled will not change. The collection allowance is based on the prior fiscal year collections and will be the same throughout the calendar year.

See the bulletin here:
http://www.in.gov/legislative/iac/20120530-IR-045120255NRA.xml.html