Wisconsin Administrative Code
Department of Revenue
Chapter Tax 2 - Income Taxation, Returns, Records And Gross Income
Section Tax 2.96 - Extensions of time to file corporation franchise or income tax returns
Universal Citation: WI Admin Code ยง Tax 2.96
Current through February 26, 2024
(1) DUE DATES.
(a)
General. Except
as provided in pars. (am) and (b), corporation franchise or income tax returns
are due on or before the 15th day of the 4th month following the close of a
corporation's taxable year unless an extension of time for filing has been
granted.
(am) For tax exempt
corporations with unrelated business taxable income, the franchise or income
tax return is due on or before the 15th day of the
5th month following the close of the corporation's
taxable year unless an extension of time for filing has been granted.
(b) Short-period returns. Corporation
franchise or income tax returns for periods of less than 12 months are due on
or before the federal due date.
(2) EXTENSIONS.
(a)
Automatic extension. For
corporation franchise or income tax returns, an automatic extension is allowed
for a period of 7 months or until the original due date of the corporation's
corresponding federal return, whichever is later. If any extension is obtained
for federal purposes, that extension also applies for Wisconsin purposes and is
further extended for another 30 days after the federal due date. A copy of
federal extension form 7004, or other federal extension form, if applicable,
shall be attached to any Wisconsin franchise or income tax return filed under
extension, even if the extension was not requested for federal
purposes.
(b)
Combined
returns. For corporations required to use combined reporting under s.
71.255,
Stats., any extension granted to the designated agent of the combined group is
considered granted to each corporation in the combined group.
(c)
Estimated tax payment. A
taxpayer who desires to minimize interest charges during the extension period
may pay the estimated tax liability on or before the original due date of the
franchise or income tax return. The estimated tax liability includes the
economic development surcharge imposed under s.
77.93, Stats.
Note: See s. Tax 2.66 for rules relating to the payment of estimated taxes by combined groups.
(3) INTEREST CHARGES AND LATE FILING FEES.
(a)
Regular interest. Except
as provided in par. (b), additional tax due with the complete return and the
economic development surcharge imposed under s.
77.93, Stats.,
which are not paid by the original due date are subject to interest at 12% per
year during the extension period and 1 1/2% per month from the end of the
extension period until the date of payment.
(b)
Delinquent interest. If
90% of the tax shown on the return is not paid by the unextended due date of
the return, the difference between that amount and the estimated taxes paid
along with any interest due is subject to interest at 1 1/2% per month until
paid regardless of any extension granted for filing the return. The tax shown
on the return includes the economic development surcharge imposed under s.
77.93,
Stats.
(c)
Late filing
fee. A corporation return filed after the extension period is subject
to a $150 late filing fee.
Section Tax 2.96 interprets ss. 71.24(7), 71.255(7), and 71.44(3), Stats.
See s. Tax 2.60 for combined reporting definitions relating to this section. See s. Tax 2.65 for rules relating to the designated agent. See s. Tax 2.66 for rules relating to the payment of estimated taxes by combined groups. See s. Tax 2.67 for rules relating to the filing of a combined return.
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