CHAPTER 6. RETURNS
IC 6-5.5-6
Chapter 6. Returns
IC 6-5.5-6-1
Annual returns required
Sec. 1. Annual returns with respect to the tax imposed by this
article shall be made by every taxpayer:
(1) having for the taxable year adjusted gross income or
apportioned income subject to taxation under this article; or
(2) that would have had adjusted gross income or apportioned
income subject to taxation under this article, but had a loss for
that taxable year.
However, taxpayer members of a unitary group are required to file
only one (1) return covering all members of the unitary group. The
taxpayer member that files the return may be designated by the
members of the unitary group pursuant to consents executed by each
member. Each taxpayer member of a unitary group is jointly and
severally liable for the tax liability of all members of the unitary
group.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.68-1991,
SEC.14.
IC 6-5.5-6-2
Time for filing returns; extensions
Sec. 2. Annual returns required by this chapter shall be filed with
the department on or before the fifteenth day of the fourth month
following the close of the taxpayer's taxable year. However, if a
taxpayer receives an extension of time from the United States
Internal Revenue Service for the filing of its federal income tax
return for a taxable year, the department shall grant a similar
extension of time to the taxpayer for the filing of a return required by
this chapter for that taxable year. In addition, the department may
grant an additional reasonable extension of time for filing a return
required by this chapter.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-3
Quarterly estimated tax; quarterly payment by electronic fund
transfer
Sec. 3. (a) Each taxpayer subject to taxation under this article
shall report and pay quarterly an estimated tax equal to twenty-five
percent (25%) of the taxpayer's total estimated tax liability imposed
by this article for the taxable year. A taxpayer that uses a taxable
year that ends on December 31 shall file the taxpayer's estimated
quarterly financial institutions tax return and pay the tax to the
department on or before April 20, June 20, September 20, and
December 20 of the taxable year, without assessment or notice and
demand from the department. If a taxpayer uses a taxable year that
does not end on December 31, the due dates for filing the estimated
quarterly financial institutions tax return and paying the tax are on or
before the twentieth day of the fourth, sixth, ninth, and twelfth
months of the taxpayer's taxable year. The department shall prescribe
the manner and furnish the forms for reporting and payment.
(b) Subsection (a) is applicable only to taxpayers having a tax
liability imposed under this article that exceeds two thousand five
hundred dollars ($2,500) for the taxable year.
(c) If the department determines that a taxpayer's:
(1) estimated quarterly financial institutions tax liability for the
current year; or
(2) average quarterly financial institutions tax payment for the
preceding year;
exceeds five thousand dollars ($5,000), the taxpayer shall pay the
quarterly financial institutions taxes due by electronic fund transfer
(as defined in IC 4-8.1-2-7) or by delivering in person or by
overnight courier a payment by cashier's check, certified check, or
money order to the department. The transfer or payment shall be
made on or before the date the tax is due.
(d) If a taxpayer's financial institutions tax payment is made by
electronic fund transfer, the taxpayer is not required to file a
quarterly financial institutions tax return.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.68-1991,
SEC.15; P.L.28-1997, SEC.21; P.L.129-2001, SEC.9; P.L.211-2007,
SEC.34.
IC 6-5.5-6-4
Payment of tax
Sec. 4. When a taxpayer is required to file a tax return under this
chapter, the taxpayer shall, without assessment or notice and demand
from the department, pay the tax to the department at the time fixed
for filing the return without regard to an extension of time for filing
the return. In making an annual return and paying the tax due for a
taxable year, a taxpayer is entitled to take a credit for any tax
previously paid by it for the taxable year under this chapter.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-5
Certified copy of return
Sec. 5. A taxpayer shall furnish to the department at the
department's request a true and correct copy of any tax return that the
taxpayer has filed with the United States Internal Revenue Service.
The copy shall be certified by the taxpayer under penalties of
perjury.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-6
Alteration or modification of return; notice; form; time; penalty
Sec. 6. (a) Each taxpayer shall notify the department in writing of
any alteration or modification of a federal income tax return filed
with the United States Internal Revenue Service for a taxable year
that begins after December 31, 1988, including any modification or
alteration in the amount of tax, regardless of whether the
modification or assessment results from an assessment.
(b) The taxpayer shall file the notice in the form required by the
department within one hundred twenty (120) days after the alteration
or modification is made by the taxpayer or finally determined,
whichever occurs first.
(c) The taxpayer shall pay an additional tax or penalty due under
this article upon notice or demand from the department.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-7
Forms; certification of truth of information
Sec. 7. A return required by this chapter and other information
that is reasonably requested by the department must be on the forms
that are prescribed by the department. The taxpayer or other person,
corporation, or entity, when required by the department, shall certify
under penalties of perjury to the truth of all information on the return
or other document.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-8
Transfer of property; liability for tax
Sec. 8. In the case of a transferee of the property of a transferor,
liability for an accrued tax liability of the transferor is transferred to
the transferee as provided in Section 6901 of the Internal Revenue
Code.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-6-9
Preservation of records; examination
Sec. 9. A taxpayer subject to taxation under this article shall keep
and preserve records of the taxpayer's adjusted gross income and
other books or accounts necessary to determine the amount of tax for
which the taxpayer is liable under this article. Those records, books,
and accounts shall be kept open for examination at any time by the
department or its authorized agents.
As added by P.L.347-1989(ss), SEC.1.