Bill Text: HI SB1449 | 2010 | Regular Session | Amended

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Bill Title: General Excise Tax; Estimated Payments; Annual Return

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB1449 Detail]

Download: Hawaii-2010-SB1449-Amended.html

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STAND. COM. REP. NO. 846

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1449

       S.D. 2

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1449, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO GENERAL EXCISE TAX,"

 

begs leave to report as follows:

 

     The purpose of this measure is to amend the general excise tax return filing and payment procedures to require accelerated periodic estimated payments and one annual return.

 

     Your Committee received comments from one organization and one individual.  The written comments may be reviewed on the Legislature's website.

 

     Your Committee received comments from one organization and one individual.  The written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that the current law requires large taxpayers to file monthly general excise tax returns and to remit taxes.  In addition, it requires large taxpayers to file annual reconciliation returns that include any adjustments and make final payments for the year.  Your Committee finds that by accelerating simple voucher estimated payments and the final reconciliation, the State will be able to achieve a one-time windfall gain in collection of general excise tax revenues.

 

     Your Committee has amended this measure by:

 

(1)  Changing multiple references to the "fifteenth" to the "twentieth" day;

 

(2)  Changing multiple references to April 15, July 15, October 15, and January 15, to April 20, July 20, October 20, and January 20, respectively; and

 

(3)  Making technical amendments for purposes of clarity and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1449, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1449, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

		____________________________ DONNA MERCADO KIM, Chair