Form 0405-611 - 2006 Alaska Corporation Net Income Tax Return Instructions Page 5
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10FORM 0405-611 - 2006 ALASKA CORPORATION NET INCOME TAX RETURN
INSTRUCTIONS
reporting.
The taxable incomes of each taxpayer are then
and on line payments must be accompanied by Alaska Form
consolidated to comprise the consolidated Alaska return.
04-711. A corporation failing to pay the proper estimated tax
when due will be subject to an underpayment penalty for the
The water’s edge group for each taxpayer within the
period of underpayment.
If estimated tax was underpaid,
consolidated group is determined by reference to the individual
complete and attach Form 04-708 Underpayment of Estimated
taxpayer. Taxpayers joining in a consolidated return usually
Tax by Corporations.
have a common water’s edge group.
However, consolidated
PAYMENT: TAX
taxpayers may have distinct combined groups.
Separate
The Department of Revenue offers several options to make tax
combined reports are required for each unique water’s
payments: by check, by online payment, or by wire transfer.
edge combined group represented in the consolidated
Payments by check must be made payable to the
return. Unique water’s edge groups will exist for each distinct
Alaska Department of Revenue, Tax Division
unitary business represented in the consolidated return.
PO Box 110420,
Unique water’s edge groups may also exist within a single
unitary group where one taxpayer has less than 20% average
Juneau, AK 99811-0420.
U.S. factors and is excluded from the water’s edge group of
every other taxpayer within that unitary group.
Check payments should be submitted with the appropriate
return or Form 04-711, and must be identified by name,
COMBINED AFFILIATES HAVING DIFFERENT
address, tax year and federal Employer Identification Number
(EIN).
ACCOUNTING PERIODS
The income of all affiliates included in a combined report must
PAYMENTS OVER $100,000
be determined on the basis of the same accounting period.
When an estimated tax payment is $100,000 or greater, or a
Generally, the accounting period used in the return should be
that of the common parent. Where no common parent exists,
payment with a return is $150,000 or greater, payment must be
the income of the combined affiliates should be determined on
made online (TOPS) or by wire transfer.
the basis of the taxpayer's annual accounting period.
TAX ONLINE PAYMENT SYSTEM (TOPS)
Generally, when it is necessary to convert an affiliate to the
The Tax Division offers online electronic funds transfer through
annual accounting period of the taxpayer, an interim closing of
TOPS. You must be an existing taxpayer with the Tax Division
the books should be made for the members whose accounting
to make payment using TOPS; no pre-enrollment is required. If
period differs from the common parent and/or taxpayer. If no
you are a first-time taxpayer, contact the Tax Division at
substantial misstatement of income results, a pro-rata
conversion may be used.
(907)465-2320. Information and access to TOPS is located at
III. OTHER GENERAL INSTRUCTIONS
TOPS is an Automated Clearing House (ACH) debit system.
RETURN DUE DATE
Some companies have a debit block on their bank account. If
The Alaska return must be filed within thirty (30) days of the
your bank account has an ACH debit blocker, your TOPS
date on which the corporation’s federal income tax return is
required to be filed. Thus, the due date is not necessarily the
payment request will be rejected by your bank.
15th day of the month following the federal due date.
If your account has a debit block, or you suspect that it does,
EXTENSION OF TIME TO FILE
contact your bank to register the State of Alaska as an
A federal extension automatically extends the Alaska filing due
authorized ACH debit originator before making a payment
date to thirty (30) days after the federal extended due date. AS
through TOPS. The company ID Number for the Alaska
43.20.030(a).
Be sure to attach a copy of your federal
Department of Revenue is 0000902050. Rejected payments
extension to your Alaska return. An extension of time to file
is not an extension of time to pay.
may result in penalties and/or interest.
PAYMENT DUE DATE
TOPS does not accept ACH credit or credit card transactions.
Full payment of the Alaska tax must be made on or before the
For more information, contact your financial institution or the
15th day of the third month after the close of the tax year. See
Tax Division at (907)465-3776.
instructions for payment of tax below.
WIRE TRANSFER
WHERE TO SEND RETURN
Mail the return with attachments to:
Notify the Treasury Division by fax at (907)465-4019 or email at
Alaska Department of Revenue, Tax Division
cashmgmt@revenue.state.ak.us regarding a wire transfer by 2
PO Box 110420
p.m. on the business day prior to the wire transfer settlement
Juneau, AK 99811-0420
date. Provide taxpayer name, EIN, license number (if
applicable), tax type, tax period, payment amount, date of
WHO MUST SIGN
transfer and contact telephone number in the fax or email for
The return must be signed by an authorized officer of the
corporation.
proper identification of the payment.
PAYMENT: ESTIMATED TAX
For account information required by your bank to initiate a wire
Payment of estimated tax is required as provided under IRC
transfer of funds for tax payments, please contact:
Section 6655.
Payments other than wire transfer payments
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