Form BA-403 Extension Vermont Corporate Income Tax

Form BA-403 Vermont Corporate Filing Extension.
Instructions for Form BI-471, Vermont Business Tax Return

From page1, paragraph 8, "Who must file"
"Effective for tax years beginning on or after January 1, 1997, every Subchapter S Corporation, Partnership and Limited Liability Company which engages in activities in Vermont must file a return
with the Commissioner of Taxes. This includes entities receiving income as a shareholder, partner or member."

From page 2, paragraph 3, "The pass‑through entity is liable for the minimum annual (entity) tax of  $250 for each taxable year beginning on or after January 1, 1998."

Vermont State Income Tax, Nolo
"The business entity tax applies to S corporations, LLCs, and partnerships. These types of business entities must pay a flat annual tax of $250."
- "S Corporations. An S corporation is created by first forming a traditional corporation, and then filing a special form with the IRS to elect “S” status; unlike a traditional corporation, an S corporation generally is not subject to separate federal income tax. Rather, taxable income from an S corporation is passed through to the individual shareholders, and each individual shareholder is subject to federal tax on his or her share of the corporation’s income; in other words, S corporations are “pass-through” entities. (Note that a shareholder’s share of the S corporation’s income need not actually be distributed to the shareholder in order for the shareholder to owe tax on that amount.) Vermont recognizes the federal S election; however, Vermont S corporations are required to pay the state’s business entity tax. In addition, an individual S corporation shareholder will owe tax on his or her share of the company’s income.
Example: For the 2012 tax year, your S corporation had net income of $500,000. The corporation will owe the $250 business entity tax. In addition, the corporation’s net income will be allocated among the various shareholders and each shareholder will pay tax on his or her portion on his or her individual state tax return; the rate will vary depending on the shareholder’s overall taxable income for the year."

Multistate Tax Considerations for S Corporations, Journal of Accountancy
- "Multistate S corporations are allowed to apportion their income to the states with which they have nexus. For many years, most states followed an evenly weighted three-factor apportionment by sales, tangible property and payroll in each state."
- " Composite returns. Many states allow multistate S corporations to file a composite tax return on behalf of all shareholders of the S corporation. With it, the income of each shareholder is reported to the state, and the S corporation pays the tax on behalf of the shareholder. The advantage is that shareholders do not have to file individual income tax returns for that income with any state where the S corporation filed a composite tax return. The states that do not accept composite tax returns include Nebraska, Oklahoma, Tennessee and Utah (although Utah did issue a private letter ruling (02-033) in 2003 allowing a composite return for nonresident shareholders in an electing small business trust). Some states, including Arizona, New York and Vermont, restrict the use of composite returns, based on income or number of shareholders."

Required Entries
Indicate Federal Tax Return > 1120S for S-Corp
Begin date 1/1 to 12/31 of previous year
Calculation of Tax Due, 1. $250, 2. $0, 3. $250 because S-Corp is pass through entity

How do I file an extension for a California S-Corp (Form 3539)?

Download the most up to date form and instructions from https://ftb.ca.gov

2015 Instructions for Form FTB 3539
Use form FTB 3539, Payment for Automatic Extension for Corporations and
Exempt Organizations, only if both of the following apply:
• The corporation or exempt organization cannot file its 2015 California (CA) tax
return by the original due date.
• The corporation or exempt organization owes tax for the 2015 taxable year.

According to the current instructions, Form 3539 only needs to be filed if taxes are due. Well that's certainly a good idea. Dear IRS, give California a call.

For S-Corps, with a fiscal year from January 1st to the end of December, the extension for filing form 100S is extended to October 15th, 2014.

How do I request a filing extension for an S-Corp (Form 7004)?

Download Form 7004 and instructions from http://www.irs.gov...

Name should be the name of your S-Corp, not your personal name.

Identifying number is the Employee Identification Number (EIN) of your S-Corp.

Don't enter anything for Part 1, 1a. 

S-Corps typically file Form 1120S Income Tax Return. If this is your case, then verify that "25" is the code for Form 1120S and enter it in Part II, line b.

In Line 5a, complete the last two digits of the tax year, typically the previous year. If your tax year is 1st of January to end of December there is no need to enter the beginning and ending dates.

Line 6 or "Tentative total tax" is likely to be 0.00 as an S-Corp is a "pass-through" entity which assumes than any profits are declared on the owner's personal tax return. Line 7 and 8 are also typically 0.00 for an S-Corp.
Sources: Legal Zoom, Yahoo Answers

The December 2012 of the Form 7004 instruction manual indicates that you can e-file form 7004 at http://www.irs.gov/Filing. This Tax Maven gave it a try and soon found himself in some 1980's electronic file submission nightmare, but if you succeed, let us know how in the comments. Dear IRS, please create a simple online form to replace all this.

Where to send the paper form, depends on where the principal office is and the net assets in some states. For example, an S-Corp with it's principal office in Vermont and assets of less than $10m should email the form to the Department of the Treasury, Internal Revenue Service Center, Kansas City, MO 64999-0019. Dear IRS, please simplify this by making the address the same for all S-Corps regardless of their net assets.