When are Corporate/Partnership Tax Returns Due?

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Written by Monika Miles | Posted in Corporate • Partnership • State Tax • Tax Return

Do you take notice when it comes to new California tax laws and updates? Here is one that taxpayers and tax preparers alike will want to pay attention to.

Assembly Bill No. 1775: Updated Due Dates for Corporate and Partnership Tax Returns

Signed by Governor Brown in September 2016, a recent change to California tax law revolves around due dates for corporate and partnership returns. As the bill text explains, for tax years beginning on or after January 1, 2016:

Partnerships need to file an informational tax return on the 15th of the 3rd month (changed from the 15th day of the 4th month).
LLCs classified as partnerships need to file a return of taxes due and payable on the 15th day of the 3rd month (also changed from the 15th day of the 4th month)
S Corporations need to file a tax return on the 15th day of the 3rd month (resulting in no change)
Taxpayers subject to the Corporation Tax Law that aren’t S Corporations need to file a return by the 15th day of the 4th month following the close of its taxable year (changed from the 15th day of the 3rd month)

Basically, this law moves up the dates that California tax returns are due for many partnerships and LLCs by one month to allow individual filers and corporations that rely on flow-through income to obtain their K-1’s sooner and thereby have a chance at filing timely returns without extension. Corporations now have one additional month.

These California changes are consistent with the new federal tax return filing changes as well. Federal changes had been passed in 2015, so it’s nice to see California coming on board as well. CPAs and practitioners encouraged the federal changes as the new due dates will likely smooth out the filing season somewhat.

As always, we’re happy to help answer any questions you have regarding California or multi-state tax issues. Please contact us to find out more, and stay tuned for additional changes you made need to know about! Oh, and don’t forget your final extensions for this year as you have a few extra days to file those returns due October 15th, as it falls on a Saturday! File those extended individual returns by Monday, October 17th.

Monika Miles

Monika founded Miles Consulting Group which focuses on multi-state tax consulting, helping clients navigate state tax issues such as sales tax and income tax in interstate commerce, including e-commerce.

Prior to forming the firm, Monika worked for 12 years combined in Big 4 Public Accounting and private industry. Monika has provided such services as federal and state income/franchise tax compliance and consulting, sales/use tax consulting, audit support, and credits and incentives reviews. She has served clients in a variety of industries including manufacturing, technology, telecommunications, construction, utility, retail and financial institutions.

Monika graduated from the University of Texas at El Paso (UTEP) with a BBA in Accounting/Finance and has a Masters in Taxation from San Jose State University.