When it comes to filing an extension for your business income tax returns, many business owners think that this process ends with IRS. However, depending on the state where your business is located, there may be more to it.
While several states will acknowledge a Form 7004 that was filed with and accepted by the IRS for the current tax year, there are a few states that require businesses to file a separate form with their agency to file an extension for state business tax returns.
One of these states is Mississippi. Here is an overview of the business tax requirements in this state and what is required for an extension.
Pass-through entities are those that pass their earnings through to partners or shareholders.
In addition to filing a Form 1065 or an 1120-S with the IRS to report income information about the partnership or S-corporation, these businesses are also required to file Form Form 84-105 with the state of Mississippi.
Pass-through entities are required to file Form 84-105 within 4 months and 15 days following the end of their tax year. For partnerships that operate on a calendar year schedule, this is April 15th.
Businesses that are classified as pass-through entities and are located in the state of Mississippi must file a state extension form in addition to the Form 7004 that they file with the IRS. The state form that pass-through entities are required to file with the state of Mississippi to request up to a 6-month extension isForm 83-180.
Just like Form 7004, this extension form must be filed on or before the deadline to file Form 84-105.
Mississippi Filing Requirements- Corporations
C-corporations in the state of Mississippi must file Form 83-105 with the state in addition to filing Form 1120 with the IRS each year.
The deadline for corporations to file Form 83-105 is four months and 15 days following the end of their tax year. For corporations operating on a calendar year, this is April 15th.
Corporations that are located in the state of Mississippi must file a state extension form in addition to filing Form 7004 with the IRS. The state form that corporations are required to file with the state of South Carolina to request up to a 6-month extension is Form 83-180.
Form 83-180 must be filed on or before the corporation’s original Form 83-105 filing deadline.
Mississippi Filing Requirements- Fiduciary
Fiduciaries in the state of Mississippi must file Form 81-110 with the state in addition to filing an annual tax return with the IRS.
If a fiduciary needs to file an extension of time for their income tax return, they must file a Form 7004 with the IRS and a separate tax extension form with the state of Mississippi.
The deadline for filing Form 81-110 is within four months and fifteen days following the end of the fiduciaries’ tax year. For those operating on a calendar year schedule, this is April 15, 2023.
For the fiduciary to obtain an extension of up to 6 months for filing their 81-110 with the state, they must complete Form80-106 by their original filing deadline.
Filing State Business Tax Extensions with ExpressExtension
ExpressExtension offers an easy option for filling out the Mississippi extension Forms 83-180 and 80-106.
With ExpressExtension you can file both federal and state extension forms. To complete Forms, simply sign in to your ExpressExtension account and select state filing. You can then fill out your form and proceed to download and print it. Then you can mail it using the address that ExpressExtension provides.
Ready to request an extension of time to file? Create your free ExpressExtension account now.