FAQs - Financial Institutions Tax

Previously, my entity paid the corporation franchise tax (CFT), and with the passage of Am. Sub. H.B. 510 of the 129th General Assembly, I am now subject to the financial institutions tax (FIT). When is my first FIT return due?

For tax year 2014, the entity’s estimated payments are due the 31st of January, March, and May with the FIT return due on October 15, 2014. Additionally, the entity should file its final CFT return, as appropriate, for tax year 2013.

Previously, my entity paid the corporation franchise tax (CFT), and with the passage of Am. Sub. H.B. 510 of the 129th General Assembly, I am now subject to the financial institutions tax (FIT). When is my first FIT return due?

For tax year 2014, the entity’s estimated payments are due the 31st of January, March, and May with the FIT return due on October 15, 2014. Additionally, the entity should file its final CFT return, as appropriate, for tax year 2013.