Yes. If an extension has been granted for federal purposes, the extension is also granted for Alabama purposes; the Federal Form 7004 must be submitted with the Form 20C. NOTE: This is an extension for filing purposes ONLY. The full amount of the tax liability is due by the original
Yes. Alabama Code §40-2A-7(c)(2) states, “A petition for refund shall be filed with the department or an automatic refund issued pursuant to Section 40-29-71, or a credit allowed, within (i) three years from the date that the return was filed, or (ii) two years from the date of payment of
The corporation should file an Alabama income tax return just as any other corporation. If the income is business income, then the corporation’s pro rata share of the partnerships property, payroll, and sales should be included in the apportionment factor. If the income is nonbusiness, then the income should be
Organizations referred to in 26 U.S.C. § 501(a), as well as several others organizations referenced in 40-18-32 will not be required to file corporation income tax returns with the Alabama Department of Revenue for as long as they retain their exempt status under applicable Federal and State laws. If they
To report changes made by the IRS, a corporation must file an amended Form 20C for the specific tax period. The following information MUST be included with the amended return (see Regulation 810-3-40-.01(4)): If the corporation files as a separate entity: A complete copy of the revenue agent’s report (RAR)
For tax years beginning January 1, 2001, the tax rate is 6.5%. For tax years prior to 2001, the tax rate was 5%.
For tax years beginning on or after January 1, 2016, Corporate Income Tax began following the federal due dates for corporate returns. Corporations on a calendar year and a fiscal year, other than June 30, the original due date is the 15th day of the 4th month after the end
Schedule BC. The Alabama Department of Revenue now requires the use of Schedule BC – Business Credits, when claiming business tax credits. The schedule allows the taxpayer to compute the total amount of tax credits allowable. The amounts entered on the Schedule BC will carry over to the Form 20C,
If the payment is $750 or more, payments must be made electronically. For more information, visit ADOR’s Make A Payment Page or call the EFT unit at 1-877-256-2447 or (334)353-7659. New taxpayers, who have recently created a corporate income tax account, will receive an Online Filing Information letter. The Online
View information on the Small Business Health Premiums Deduction (Act 2008-559, amended by Act 2011-155). View Form 4020- Small Business Health Insurance Deduction Information.
