Sales and use taxes: administration: qualified use tax: acceptable tax return.

Existing sales and use tax laws impose taxes on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state. Those laws authorize a person that purchases tangible personal property, the storage, use, or other consumption of which is subject to qualified use tax, to elect to report and remit that tax on an acceptable tax return, defined as a timely filed original return that is filed, as specified. This bill would modify the definition of acceptable tax return to mean an original return.