Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-9-1 - FINANCIAL INSTITUTION EXCISE TAX RULES
Section 810-9-1-.07 - Extension Of Time For Filing A Financial Institution Excise Tax Return
Current through Register Vol. 43, No. 02, November 27, 2024
(1) A financial institution or financial institution qualified corporate group will be granted an automatic extension to file its Alabama Financial Institution Excise Tax Return consistent with the extension allowed for the taxpayer's corresponding Federal Income Tax or Federal Information Return. Extension of time granted pursuant to this section is not an extension of time for payment of the tax. The amount of tax due must be paid on or before the due date of the return without regard to the extension to file the return. Any tax due, not paid on or before the un-extended due date, will be subject to interest until paid at the rate provided in § 40-1-44, Code of Ala. 1975, and all applicable penalties.
(2)
(3) Estimated Payments. Those financial institutions with liabilities in excess of estimated payments or credits should remit the balance due on or before the un-extended due date of the return. Members of an Alabama Qualified Corporate Group which have carryover payments from a prior year's filing of a separate return shall treat such carryover as a payment of estimated taxes on the Alabama consolidated return for the following year. Interest and penalties are due on all taxes not paid on or before the un-extended due date.
Author: Lessie Hallum
Statutory Authority: Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-16-3, 40-1-44. Alabama Administrative Rules 810-13-1-.01 and 810-13-1-.03.