Form 0405-611 - 2006 Alaska Corporation Net Income Tax Return Instructions Page 6
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10FORM 0405-611 - 2006 ALASKA CORPORATION NET INCOME TAX RETURN
INSTRUCTIONS
Alaska Department of Revenue-Tax Division
SPECIFIC INSTRUCTIONS FORM 0405-611
PO Box 110420
These instructions are generally applicable to the standard
Juneau, AK 99811-0420
Form 0405-611, but may be applicable to the short Form 0405-
Phone (907)465-2321
611SF, as specified. Instructions specific to Form 0405-611SF
Fax (907)465-2375
follow the standard Form 0405-611 instructions.
ALASKA INTEREST RATES ON TAX DUE
TAXPAYER IDENTIFICATION
June 16, 1976 - June 30, 1982:
Enter the name and federal EIN of the taxpayer. If this is a
Rate: 8% per annum, simple interest
consolidated Alaska return, enter the name and federal EIN of
July 1, 1982 - October 30, 1991:
one taxpayer included in the consolidated filing. If the common
Rate: 12% per annum, simple interest
parent of the federal consolidated group is an Alaska taxpayer
October 31, 1991 to June 30, 2006:
included in this return, use its name and EIN. Otherwise select
Rate: 11% per annum, compounded quarterly
the taxpayer corporation with the largest Alaska presence.
July 1, 2006 to present:
Continue to use that name and EIN for subsequent tax periods
Rate 11.25% per annum, compounded quarterly.
until the taxpayer leaves the Alaska consolidated group or the
AMENDED RETURNS
common parent becomes an Alaska taxpayer. If this taxpayer
A corporation may amend a prior year return by using Form 0405-
or consolidated group has previously filed under the name and
611X. If the federal return was also amended, a complete copy
EIN of a non-nexus common parent, change the designated
must be attached. An amended Alaska return is required if the
taxpayer according to these instructions and complete
federal return is amended.
Schedule B, question 4.
ADJUSTMENTS TO FEDERAL INCOME TAX
CONTACT PERSON
LIABILITY
Provide the name and telephone number of an individual to
A corporation is required to report any alteration in, or
whom correspondence regarding this return should be directed.
modification of, the taxpayer’s federal income tax return and of
This must be an officer or employee authorized to receive
a re-computation of tax or determination of deficiency, whether
confidential tax information. Generally, we cannot discuss tax
with or without assessment. The amended return must be filed
matters with an outside party unless we have a Power of
with full payment of any additional Alaska tax within 60 days
Attorney.
after the final determination of the federal adjustment to avoid
assessment of penalty for failure to file or pay. If the date that
ALASKA CORPORATION FILE NUMBER
the adjustment is finalized is later than the date on federal Form
Enter the taxpayer’s Alaska Department of Commerce,
4549 or 4549A, the reason must be satisfactorily explained in
Community and Economic Development Corporation File
order to avoid assessment of the penalty for failure to file or
Number which can be found on the corporation’s biennial
pay. An alteration to the taxpayer’s federal income tax return
report, Alaska Certificate of Incorporation or Certificate of
includes any alteration to the return of any member of the
Authority.
combined group of the taxpayer.
RETURN DATA (Form 0405-611 only)
Note: The taxpayer’s obligation to report and pay additional tax
Complete each question in the boxes as follows:
resulting from adjustments to federal income tax liability is not
affected by the expiration of the statute of limitations period for
Question #1: A federal extension automatically extends the
the taxpayer’s original Alaska Corporation Net Income Tax
Alaska filing due date. If a federal extension is in effect for the
Return.
taxpayer(s), check "yes" here and attach a copy of Form 7004
to the return.
LATE FILING OF RETURN
A corporation that does not file its return by the due date,
Question #2: DO NOT check "yes" if the return is for an active
including extension, is subject to a failure to file penalty of 5% of
taxpayer with inactive affiliates reporting on Schedule B,
the unpaid tax for each 30 day period or portion of a period the
question #1. See “INACTIVE CORPORATION” in the General
return is late, up to a maximum of 25%. The penalty will not be
Instructions on page 3 for reporting requirements.
imposed if the failure to file was due to reasonable cause.
Question #3: Check "yes" if this corporation is not a member of
LATE PAYMENT OF TAX
an affiliated group and does not have business activity outside
A corporation that does not pay the full amount of tax due within
the state of Alaska. See General Instructions on page 2 for the
2-1/2 months after the close of the tax year is subject to a
definition of an affiliated group. If you check "yes", you should
failure to pay penalty of 5% of the unpaid tax for each 30 day
use the short form, Form 0405-611SF.
period or portion of a period the payment is late, up to a
maximum of 25%. If during any period or portion of a period,
Question #4: Refer to "WATER'S EDGE FILING" in General
both the failure to file and failure to pay penalties are applicable,
Instructions on page 3. If this is a combined return, check "yes"
only the failure to file penalty is imposed.
and complete Schedule B, question #1.
DISCLAIMER REGARDING FEDERAL CHANGES
Question #5: Check "yes" if this is a consolidated return, and
When this form was drafted, the current year federal tax forms
complete Schedule B, question #1. Do not check “yes” if this is
were not finalized.
Therefore, references to lines and
a return of a single Alaska taxpayer that is included in a
schedules on federal forms may not be accurate. Nothing in
consolidated federal return.
these instructions or associated forms should be read to conflict
with Alaska statutes or regulations.
SCHEDULE A NET INCOME TAX SUMMARY
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