Nebraska Administrative Code › Topic - REVENUE, DEPARTMENT OF › Title 316 - NEBRASKA DEPARTMENT OF REVENUE › Chapter 24 - CORPORATION INCOME TAX › Section 316-24-227 - INCOME TAX RETURNS; EXTENSIONS OF TIME FOR FILING OR PAYMENT

Current through June 17, 2024
227.01
Extensions of Time for
				Filing.
The Department may grant an extension of time to file the
				Nebraska Corporation Income Tax Return. Form 1120N, the Nebraska S Corporation
				Income Tax Return, Form 1120-SN, or the Nebraska Return of Partnership Income,
				Form 1065N, if the taxpayer files an Application for Automatic Extension of
				Time to File Nebraska Corporation Fiduciary, or Partnership Return. Form 7004N.
				To be granted an extension a corporate taxpayer must also pay the amount of
				tentatively computed tax liability on or before the original due date for
				filing the Form 1120N.
227.01A If the taxpayer
				has been granted a federal extension of time, a state extension will be granted
				if confirmation that the federal application for automatic extension of time to
				file is submitted with the Form 1120N, 1120-SN. or 1065N when filed.
227.01B Affiliated and Unitary Groups. A
				corporate taxpayer filing a combined return with Nebraska must list each
				corporation to be included in the combined return in the request for an
				extension of time to file. The Form 7004N must include the name, address. and
				federal ID number of each corporation to be included in the combined return on
				the applicable schedule attached to Form 7004N. An automatic extension of time
				granted to the corporate taxpayer will not apply to any nonunitary member of an
				affiliated group filing a separate return with Nebraska.
227.01C Length of Extension. The Department
				may authorize a Nebraska extension up to, but not exceeding, seven months from
				the original due date of the Form 1120N, 1120-SN, or 1065N.
227.01D Interest. When the time for filing
				the return is extended, interest will be imposed from the original due date of
				the return to the date the tax is paid, at the rate specified in Neb. Rev.
				Stat. §
										45-104.02,
				on the difference, if any, between the amount of tax ultimately due, and the
				sum of the tentative remittance, any estimated payments made, and any
				applicable credits. The amount ultimately due includes both income tax required
				to be withheld from nonresident individual owners under Reg-24-225 and remitted
				on Form 1120-SN or Form 1065N, and corporation income tax due from a corporate
				taxpayer on Form 1120N.
227.01E
				Approval or Denial. If an application for extension to file is denied, the
				Department will send a notice of denial to the taxpayer at the address
				specified by the applicant on the extension form. If the application is
				approved, no notice will be sent.
227.01F Termination of Extension. The Tax
				Commissioner may terminate a corporate taxpayer's extension at any time by a
				mailing the taxpayer a notice of termination at least 10 days prior to the
				termination date as fixed in the notice. This will allow the taxpayer 10 days
				after the date of the termination notice to file the Form 1120N.