Business tax returns may have new due dates

The Delaware Division of Revenue informs local business regarding some changes to due dates for business partnerships and corporations. The federal Internal Revenue Code now requires that: 

Partnership returns are due on or before the 15th day of the third month following the expiration of the taxable period (Wednesday, March 15, for calendar year taxpayers). S corporation returns are due on or before the 15th day of the third month following the expiration of the taxable period (March 15 for calendar year taxpayers). This has not changed from prior years.

Returns for C corporations are now due on or before the 15th day of the fourth month following the expiration of the taxable period (Saturday, April 15, for calendar year taxpayers). Delaware has issued TIM 2017-1, granting an automatic extension of time to all C corporations to the due date of the corporation’s federal income tax return, without regard to extensions.  For more information, go to http://revenue.delaware.gov/information/tims/tim_2017-01.pdf.

The Delaware due dates for partnership and S corporation returns have not changed. As a result, the due dates for Delaware business returns for the 2016 tax year are as follows:

Partnership returns are due on or before the 30th day of the fourth month following the expiration of the taxable period (Sunday, April 30, for calendar year taxpayers).
S corporation returns are due on or before the 30th day of the third month following expiration of the taxable period (Friday, March 30, for calendar year taxpayers).
Returns for C corporations are now due on or before the 15th day of the fourth month following the expiration of the taxable period. Because of federal holidays, this will be Tuesday, April 18, for calendar year taxpayers.

Delaware will be enacting legislation in 2017 to adopt the same due dates for Delaware’s business tax returns, effective for tax years beginning after Dec. 31, 2016.

For more information about business return due dates, go to www.revenue.delaware.gov/services/BusServices.shtml or call 302-577-8205.