Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 05 - Division of Revenues › 1998-1 - Comprehensive Corporation Income Tax Regulations › Rule 26-51-807 - FILING RETURNS › Rule 2.26-51-807 - Federal Extension of Time

Current through Register Vol. 49, No. 6, June, 2024
The following procedures for reviewing and granting
					 extensions for filing Arkansas corporation income tax returns have been
					 established for the Corporation Income Tax Section. Refer to 1.
					 26-18-505(a)(3)(A)
					 and 1.
					 26-18-505(a)(3)(B)
					 for important related information on 'state" extensions of time. Any federal
					 extensions that have been taken should be applied first; Arkansas (that is,
					 state) extensions should be applied subsequent to any federally granted
					 extensions.
Due date for Arkansas corporation income tax
					 returns:
All Arkansas income tax returns for corporations made on
					 the basis of a calendar year shall be filed on or before the 15th day of May
					 following the close of the calendar year. Such returns made on the basis of a
					 fiscal year shall be filed on or before the 15th day of the fifth month
					 following the close of the fiscal year.
Extension of time for filing an Arkansas income tax return
					 with a federal extension - examples:
1) Any corporation who requests an automatic
				  federal extension of time for filing a federal income tax return and attaches a
				  copy of the request to the corporation's Arkansas income tax return shall
				  automatically receive an extension of time until the due date of the federal
				  income tax return to file the Arkansas return.
Example: Calendar year ending 12/31/93, therefore federal
					 return's original due date is 03/15/94 and the Arkansas return's original due
					 date is 05/15/94. If a copy of the federal six (6) month extension is attached
					 to the Arkansas return, the Arkansas return must be filed on or before the
					 federal extended due date of 09/15/94 (original federal due date 03/15/94, plus
					 the six (6) month federal extension).
2) The Department may allow further time for
				  filing income tax returns under the provisions for extensions in ACA
				  26-18-505.
				  A corporation which receives a federal extension shall automatically receive an
				  extension of time until the due date of the federal return, plus an additional
				  30, 60 or 90 day extension if requested (under ACA
				  26-18-505
				  ) before the due date of the federal extension. A copy of the federal extension
				  must be attached to the first extension request under ACA
				  26-18-505.
				  A second extension under ACA
				  26-18-505
				  of 30, 60, or 90 days may be granted if the corporation demonstrates the
				  existence of extraordinary circumstances. The request for a second extension
				  must be made before the due date allowed by the first extension.
Example: Calendar year ending 12/31/93, therefore federal
					 return's original due date is 03/15/94 and the Arkansas return's original due
					 date is 05/15/94. The corporation has received a federal extension and requests
					 additional time beyond the federal extension to file its Arkansas return. The
					 first extension request under ACA
					 26-18-505
					 must be filed on or before 09/15/94 (original federal due date of 03/15/94,
					 plus a six (6) month federal extension). The request must be filed on Arkansas
					 Form AR1055, stating the reason for the request and the requested time period
					 (either 30, 60 or 90 days). If a 90 day extension is approved, the Arkansas
					 return must be filed on or before 12/15/94 (original federal due date of
					 03/15/94, plus six month federal extension, plus 90 day Arkansas
					 extension).
Example: Calendar year ending 12/31/93, with a six (6)
					 month federal extension and a 90 day extension approved under ACA
					 26-18-505.
					 Corporation requests an additional extension under ACA 26- 18-505 due to
					 extraordinary circumstances. The request for an additional extension must be
					 filed on or before 12/15/94 (original federal due date of 03/15/94, plus the
					 six (6) month federal extension, plus the first 90 day extension under ACA
					 26-18-505
					 ). The request must be filed on Arkansas Form AR1055, stating the reason for
					 the request and the requested time period (either 30, 60 or 90 days). If the
					 additional 90 day extension is approved, the Arkansas return must be filed on
					 or before 03/15/95 (original federal due date of 03/15/94, plus the six (6)
					 month federal extension, plus the first 90 day extension under ACA
					 26-18-505,
					 plus the second (or "additional") 90 day extension under ACA
					 26-18-505
					 ).
3) If an extension
				  request is denied, the taxpayer shall file its Arkansas income tax return and
				  pay any tax, penalty and interest due thereon at the rate prescribed by
				  Arkansas law, calculated from the return's original due date until the date the
				  return is filed and any tax due thereon is paid.