Governor Charlie Baker recently signed H. 5164 the Fiscal Year 2021 budget into law. As part of the budget bill, retailers that collected more than $150,000 in sales tax or room occupancy and meals tax in the previous calendar year will need to remit sales taxes for their first three weeks each month in the final week of that month rather than in the next month.
There will be a 5% penalty for any underpayment unless reasonable cause exists.
