(a) For the purposes of this chapter, “larger business registrant” means any person who:
(1) Operates as a business whose combined annual liability for all taxes administered by the division of taxation for the entity is or exceeds five thousand dollars ($5,000); or
(2) Operated as a business whose annual gross income is over one hundred thousand dollars ($100,000) for the entity.
(b) Beginning on January 1, 2023, any larger business registrant is required to file returns and remit taxes to the state of Rhode Island electronically.
(c) Beginning on January 1, 2023, if any larger business registrant fails to pay said taxes by electronic funds transfer or other electronic means defined by the tax administrator as required hereunder, there shall be added to the amount of tax the lesser of five percent (5%) of the tax liability amount that was not filed electronically or five hundred dollars ($500), whichever is less, unless there was reasonable cause for the failure and such failure was not due to negligence or willful neglect.
(d) Notwithstanding the provisions of subsection (c) of this section, beginning on January 1, 2023, if any larger business registrant fails to file a return by electronic means defined by the tax administrator as required hereunder, there shall be added to the amount of tax equal to fifty dollars ($50.00), unless there was reasonable cause for the failure and such failure was not due to negligence or willful neglect.