Senate Bill No. 88
(By Senators Burdette, Mr. President, and Boley,
By Request of the Executive)
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[Introduced February 19, 1993; referred
to the Committee on Finance.]
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A BILL to amend and reenact section nine, article twenty-three,
chapter eleven of the code of West Virginia, one thousand
nine hundred thirty-one, as amended; and to amend and
reenact section thirteen, article twenty-four of said
chapter, all relating to extending the due dates of the
annual return for the business franchise tax and the annual
return for the corporation net income tax for certain tax
exempt organizations that realize unrelated business income;
and specifying effective dates.
Be it enacted by the Legislature of West Virginia:
That section nine, article twenty-three, chapter eleven of
the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be amended and reenacted; and that section thirteen,
article twenty-four of said chapter be amended and reenacted, all
to read as follows:
ARTICLE 23. BUSINESS FRANCHISE TAX.
§11-23-9. Annual returns.
(a)
In general. -- Every person subject to the tax imposed
by this article shall make and file an annual return for the
taxable year with the tax commissioner on or before:
(1) The fifteenth day of the third month of the next
succeeding taxable year if the person is a corporation; or
(2) The fifteenth day of the fourth month of the next
succeeding taxable year if the person is a partnership.
The annual return shall include such information as the tax
commissioner may require for determining the amount of taxes due
under this article for the taxable year.
(b)
Special rule for tax exempt organizations with unrelated
business taxable income. -- Notwithstanding the provisions of
subsection (a) of this section, when a business franchise tax
return is required from an organization generally exempt from tax
under subsection (b), section seven of this article, which has
unrelated business taxable income, the annual return shall be
filed on or before the fifteenth day of the fifth month following
the close of the taxable year.
(c)
Consolidated returns. -- Any corporation that files as
part of an affiliated group for purposes of the tax imposed by
article twenty-four of this chapter shall file a consolidated
return under this article.
(d) The tax commissioner may, at his or her discretion,
require an affiliated group of corporations to file a
consolidated tax return under this article in order to accuratelydetermine the taxes due under this article.
(e)
Effective date. -- The amendments to this section made
in the year one thousand nine hundred ninety-three, shall apply
to tax returns that become due after the first day of that year.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-13. Returns; time for filing.
(a) On or before the fifteenth day of the third month
following the close of a taxable year, an income tax return under
this article shall be made and filed by or for every corporation
subject to the tax imposed by this article.
(b)
Special rule for tax exempt corporations with unrelated
business taxable income. -- Notwithstanding the provisions of
subsection (a) of this section, when an income tax return is
required from a corporation generally exempt from tax under
subsection (a), section five of this article, which has unrelated
business taxable income, the annual return shall be filed on or
before the fifteenth day of the fifth month following the close
of the taxable year.
(c) The tax commissioner may combine into one form the
annual return due under this article and the annual return due
under article twenty-three of this chapter. When a combined
business franchise tax and corporation net income tax annual
return is filed by a taxpayer, the amount of tax remitted shall
be applied first against any business franchise tax that may be
due for the taxable year under article twenty-three of this
chapter and then against any corporation net income tax that maybe due for the taxable year. The tax commissioner may also
combine the forms for filing declarations of estimated tax and
the forms for making installment payments of estimated tax.
(d)
Effective date. -- The amendments to this section made
in the year one thousand nine hundred ninety-three, shall apply
to tax returns that become due after the first day of that year.
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(NOTE: The purpose of this bill is to extend the due date
of business franchise and corporation net income tax returns
filed by certain tax exempt organizations that derive unrelated
business taxable income to coincide with the due date of their
federal income tax return.)