Are You Required to Pay and File Your Business Tax Returns Electronically? New requirements affect many more businesses
Since July 1, 2006, all businesses submitting sales tax returns or withholding returns where the tax amount exceeds $5,000 have been required to submit those returns electronically. Effective January 1, 2010, the threshold drops to $1,000 and effective January 1, 2011, the threshold drops to $500. In addition, any taxpayer required to submit returns electronically who fails to do so and does not have written exemption from the Georgia Department of Revenue will be subject to a 5% penalty plus loss of the Vendor’s Compensation.