Modify Certain Tax Statutes To Address Defects

The act:

• Addresses an inconsistency in statute regarding section 39-21-113 (4), which prohibits the disclosure by the executive director of the department of revenue and his or her agents, clerks, and employees of information obtained during the course of investigations conducted by the department or disclosed in any document, report, or return filed in connection with the collection and payment of tax; various provisions of the section allow for exceptions to the prohibition, but not all of them are listed together and therefore the bill updates the section to reflect all the exceptions to the prohibition;
• Adds some missed mandatory electronic filing and payment requirements that didn't make it into the correct section of House Bill 19-1256, concerning electronic filing of certain taxes, which broadly authorized the department of revenue to promulgate rules requiring mandatory electronic filing and payment; and
• Fixes a conflict with regard to the tax threshold above which a taxpayer must remit estimated payments between 2 statutes that jointly impose payment requirements for severance tax on corporations.
  (Note: This summary applies to this bill as enacted.)