Department of Revenue extends payment deadline for corporate income tax - Must Read Alaska
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Saturday, June 6, 2020
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Department of Revenue extends payment deadline for corporate income tax

With the passage of the governor’s SB 241, the Alaska Department of Revenue anticipates that it will be signed by Gov. Mike Dunleavy.

In anticipation, the Tax Division has extended the payment deadline of any corporate income tax and estimated payments otherwise due on or after April 15 and before July 15. The new deadline is July 15, 2020.

The time to file a return otherwise due on or after April 15 and before July 15 is extended to Aug. 14, 2020.

Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. Corporate taxpayers may request an extension and should do so by July 15, 2020 with the Internal Revenue Service; the State of Alaska will honor that request automatically. Be sure to check the appropriate extension box on the state return when filing and attach a copy of federal Form 7004.

In Alaska, pass-through corporations, such as S corporations, limited liability companies, partnerships, and sole proprietorships, are not subject to the corporate income tax, which applies only to traditional C corporations.

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Suzanne Downing had careers in business and journalism before serving as the Director of Faith and Community-based Initiatives for Florida Gov. Jeb Bush and returning to Alaska to serve as speechwriter for Gov. Sean Parnell. Born on the Oregon coast, she moved to Alaska in 1969.

Latest comment

  • Those who pay no corporate income tax have no need of an extension.

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