2.96 Extensions of time to file corporation

franchise or income tax returns. (1) DUE DATES. (a) General. Except as provided in pars. (am) and (b), corporation franchise or income tax returns are due on or before the 15th day of the 4th month following the close of a corporation[s taxable year unless an extension of time for filing has been granted. (am) For tax exempt corporations with unrelated business tax- able income, the franchise or income tax return is due on or be- fore the 15th day of the 5th month following the close of the corpo- ration[s taxable year unless an extension of time for filing has been granted. (b) Short-period returns. Corporation franchise or income tax returns for periods of less than 12 months are due on or before the federal due date. (2) EXTENSIONS. (a) Automatic extension. For corporation franchise or income tax returns, an automatic extension is al- lowed for a period of 7 months or until the original due date of the corporation[s corresponding federal return, whichever is later. If any extension is obtained for federal purposes, that extension also applies for Wisconsin purposes and is further extended for an- other 30 days after the federal due date. A copy of federal exten- sion form 7004, or other federal extension form, if applicable, shall be attached to any Wisconsin franchise or income tax return filed under extension, even if the extension was not requested for federal purposes. (b) Combined returns. For corporations required to use com- bined reporting under s. 71.255, Stats., any extension granted to the designated agent of the combined group is considered granted to each corporation in the combined group. (c) Estimated tax payment. A taxpayer who desires to mini- mize interest charges during the extension period may pay the es- timated tax liability on or before the original due date of the fran- chise or income tax return. The estimated tax liability includes the economic development surcharge imposed under s. 77.93, Stats. Note: See s. Tax 2.66 for rules relating to the payment of estimated taxes by com- bined groups. (3) INTEREST CHARGES AND LATE FILING FEES. (a) Regular interest. Except as provided in par. (b), additional tax due with the complete return and the economic development surcharge im- posed under s. 77.93, Stats., which are not paid by the original due date are subject to interest at 12% per year during the exten- sion period and 1 1/2% per month from the end of the extension period until the date of payment. (b) Delinquent interest. If 90% of the tax shown on the return is not paid by the unextended due date of the return, the differ- ence between that amount and the estimated taxes paid along with any interest due is subject to interest at 1 1/2% per month until paid regardless of any extension granted for filing the return. The tax shown on the return includes the economic development surcharge imposed under s. 77.93, Stats. (c) Late filing fee. A corporation return filed after the exten- sion period is subject to a $150 late filing fee. Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published. WISCONSIN ADMINISTRATIVE CODE Note: Section Tax 2.96 interprets ss. 71.24 (7), 71.255 (7), and 71.44 (3), Stats. History: Cr. Register, February, 1978, No. 266, eff. 3-1-78; am. (1), (2) (a) and (c), (3) (a) and (c), (4) and (5), Register, September, 1983, No. 333, eff. 10-1-83; am. (1), (2) (a) and (b), (4) and (5), r. (2) (c), renum. (2) (d) to be (2) (c), Register, Febru- ary, 1990, No. 410, eff. 3-1-90; r. and recr. Register, December, 1995, No. 480, eff. 1-1-96; CR 10-095: am. (1) (a), (3) (a), (b), cr. (1) (am), r. and recr. (2), r. (4) Regis- ter November 2010 No. 659, eff. 12-1-10; CR 12-011: am. (2) (c), (3) (a) to (c) Reg- ister July 2012 No. 679, eff. 8-1-12; CR 19-141: am. (1) (a) Register September 2020 No. 777, eff. 10-1-20. Cross Reference: See s. Tax 2.60 for combined reporting definitions relating to this section. See s. Tax 2.65 for rules relating to the designated agent. See s. Tax 2.66 for rules relating to the payment of estimated taxes by combined groups. See s. Tax 2.67 for rules relating to the filing of a combined return.