RSA 12C-1.0222 - Returns; Extensions of Time; Payments of Tentative Tax
(1) Returns.
(a) A return submitted to the Department by
electronic means, as provided in Rule Chapter 12-24, F.A.C., is considered to
be timely filed if the submission of the electronic return is initiated, and a
confirmation from the Department is received, before 5:00 p.m. (Eastern Time),
on or before the due date (including any extensions) prescribed by law.
Taxpayers who meet the requirements of subsection (3) of Rule
RSA
12-24.003, F.A.C., must submit returns by
electronic means. A hard-copy (paper) return is considered to be timely filed
if postmarked on or before the due date (including any extensions) prescribed
by law. If the due date falls on a Saturday, Sunday, or legal holiday, a return
will be considered timely if a confirmation for an electronic return is
received by the Department on or before 5:00 p.m. (Eastern Time), or a
hard-copy (paper) return is postmarked, on the next succeeding day that is not
a Saturday, Sunday, or legal holiday. For this purpose, a legal holiday will
mean a holiday that is observed by federal or state agencies as this term is
defined in Chapter 683, F.S., and s. 7503 of the Internal Revenue Code of 1986,
as amended.
(b)
1. Example: Corporation A's Florida corporate
return was due Thursday, November 1. The envelope in which the return was
mailed was postmarked November 1; therefore, the return is considered to have
been filed on time.
2. Example:
Corporation B's Florida corporate return was due Saturday, September 1. Monday,
September 3, was Labor Day. The envelope in which the return was mailed was
postmarked Tuesday, September 4. The return is considered timely filed because
it was postmarked the next succeeding day which was not a Saturday, Sunday, or
legal holiday.
(2) Requests for Extensions of Time to File
Return.
(a)
1. For taxable year ends other than June 30,
an extension will be effective until six (6) months after the original due date
of the return. For taxpayers with a taxable year ending June 30, an extension
will be effective until seven (7) months after the original due date of the
return.
2. An extension of the due
date of any required Florida partnership information return will be effective
until six (6) months after the original due date of the return.
3. If an automatic extension is not permitted
because a federal extension has not been requested or is not allowed, the
application for extension of time to file a return must contain sufficient
facts to establish good cause why the return cannot be filed on or before the
original due date. An extension of time for filing a return does not operate as
an extension of time for payment of the tax or any part thereof.
(b) A corporation or a partnership
that has been granted an automatic extension of time for filing its federal
income tax return or its federal partnership return by the Internal Revenue
Service, or that establishes good cause, will be granted an extension of time
to file its Florida corporate income/franchise tax return or its Florida
partnership information return when the following requirements are met:
1. Form F-7004, Florida Tentative
Income/Franchise Tax Return and Application for Extension of Time to File
Return (incorporated by reference in Rule
RSA 12C-1.051, F.A.C.),
signed by a person duly authorized by the taxpayer to sign a request for
extension, is filed with the Department on or before the due date prescribed
for filing the return. See Rule
RSA
12C-1.0221, F.A.C., for persons authorized to
request an extension of time to file. For affiliated groups, the parent company
qualified to file a Florida consolidated income tax return must file Form
F-7004. An extension granted to the parent company of an affiliated group
applies to the parent company's consolidated return. If any corporate partner
requires an extension of time to file its separate Florida corporate
income/franchise tax return, a separate Form F-7004 must be filed by the
corporate partner with the Department.
2. The amount estimated to be the balance of
its proper tax due for the taxable year after giving effect to payments and
credits on its declaration of estimated income tax is paid to the
Department.
(3) Extended Return Due Dates.
(a) Upon the timely filing of Form F-7004,
properly prepared and including payment of any tax determined to be due, an
extension will be allowed.
(b) The
aggregate amount of time of extensions for a return cannot exceed six (6)
months, unless the exception specified in paragraph (2)(a), of this rule,
applies. No further extensions are allowed.
1. For a corporation whose taxable year ends
December 31, a required Florida corporate income/franchise tax return is due
May 1 of the following year. When the requirements of this rule are met, and
the corporation is granted an extension of time to file its Florida corporate
income/franchise tax return, the extended due date for the Florida return is
November 1.
2. A partnership whose
taxable year ends on December 31, will be granted an extension of time from
April 1 to October 1 to file its Florida partnership information return when
all the requirements for an extension of the due date of a return provided in
this rule are met.
(c)
1. Failure to make payment with an
application when one is required will void the request for extension of time to
file. The taxpayer will be subject to the penalty provided in Section
RSA
220.801, F.S., for failure to file a timely
return. Interest will be assessed on any tax due from the due date of the
return to the date of payment.
2.
An extension of time will be invalidated when the:
a. Tentative tax due is not paid with the
application for extension (Form F-7004); or,
b. The tax is underpaid by the greater of
$2,000 or thirty percent (30%) of the tax due on the return when
filed.
Notes
Rulemaking Authority 213.06(1), 220.32(2), 220.51 FS. Law Implemented 220.222, 220.32, 220.801 FS.
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