Ala. Admin. Code r. 810-9-1-.10

Current through Register Vol. 43, No. 1, October 31, 2024

Section 810-9-1-.10 - Requirements For The Financial Institution Excise Tax Declaration For Electronic Filing

(1) SCOPE - This rule defines the information required for the Financial Institution Excise Tax declaration for electronic filing through the Alabama Business Modernized E-File Program (MeF).

(2) The Financial Institution Excise Tax Declaration for Electronic Filing requires the following information and authorizations for filers:

(a) The financial institution's name.

(b) The financial institution's Federal Employer Identification Number.

(c) The financial institution's address.

(d) The financial institution's phone number.

(e) The Alabama taxable income reported by the electronic return.

(f) The total tax liability reported by the electronic return.

(g) The net tax due Alabama reported by the electronic return.

(h) The total tax payments and credits reported by the electronic return.

(i) The total reductions reported on the electronic return.

(j) The amount of the refund reported by the electronic return.

(k) The amount of the payment transmitted electronically.

(l) If applicable, authorization for the department and its designated financial agent to initiate an electronic funds withdrawal (direct debit) entry to the financial institution account indicated in the tax preparation software for payment of the financial institution's Alabama taxes owed on this return, and the financial institution to debit the entry to this account.

(m) Authorization for the department to discuss the return and attachments with the preparer.

(n) Consent to the disclosure of all information pertaining to the user of the computer system and software used to create the business return and to the electronic transmission of the business tax return to the department.

(o) The signature of an officer of the financial institution, their title and date of the signature. The department will accept a signature made on a signature pad (defined in 810-9-1-.09).

(p) The signature of the electronic return originator and date of the signature.

(q) An indication whether the electronic return originator is self-employed.

(r) The firm name of the electronic return originator.

(s) The address, including the zip code, of the electronic return originator.

(t) The Federal Employer Identification Number of the electronic return originator.

(u) If the paid preparer is different from the electronic return originator, the following information is required:

1. The signature of the paid preparer and date of the signature.

2. An indication whether the paid preparer is self-employed.

3. The firm name of the paid preparer.

4. The address, including the zip code, of the paid preparer.

(3) The signatures of the financial institution officer, the electronic return originator, and the paid preparer (if the paid preparer is different from the electronic return originator) must be affixed to the Alabama Form AL8453-FIE -Financial Institution Excise Tax Declaration for Electronic Filing before the return is electronically transmitted.

(a) Members of the firm or designated employees may sign for the electronic return originator.

(b) If the taxpayer is unable to obtain the paid preparer's signature on the Alabama Form AL8453-FIE, in lieu of the paid preparer's signature the electronic return originator may attach to the Alabama Form AL8453-FIE a copy of the appropriate pages of the paper return with the paid preparer's signature.

(c) Electronic return originators and electronic return preparers are prohibited from allowing taxpayers to sign a blank Alabama Form AL8453-FIE.

(4) The completed and signed Alabama Form AL8453-FIE will serve as the filing declaration for the electronic Alabama Financial Institution Excise Tax Return.

(5) The completed and signed Alabama Form AL8453-FIE must be retained by the electronic return originator for a period of three years from the due date of the return or three years from the date the return was filed, whichever is later. The electronic return originator will provide the department with the original Alabama Form AL8453-FIE within five business days of receiving a written request for the documents from the department.

Ala. Admin. Code r. 810-9-1-.10

Amended by Alabama Administrative Monthly Volume XLI, Issue No. 04, January 31, 2023, eff. 3/17/2023.

Authors: Veronica Jennings, Demetria Gordon

Statutory Authority:Code of Ala.1975, §§ 40-2A-7(a)(5), 40-30-5.