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HomeNewsArchives10% SURCHARGE FOR SOME BUSINESSES DUE THURS.

10% SURCHARGE FOR SOME BUSINESSES DUE THURS.

A statement from the Bureau of Internal Revenue reminds corporate taxpayers on the calendar year that the 10 percent surcharge on total tax liability is due Thursday, March 15.
The surcharge must be paid with the corporation's regular tax on Form 1120. The surcharge is computed as 10 percent of the amount shown on Line 31 of 2000 Form 1120, U.S. Corporate Income Tax Return; Line 27 of Form 1120A, the U.S. Corporate Short Form Income Tax Return; Line 22c of Form 1120S, U.S. Income Tax Return for an S corporation; and Line 5 — 2000 Form 1120F, U.S. Income Tax Return for a Foreign Corporation.
V.I. corporations and foreign corporations with a V.I. office must file returns by the 15th day of the third month after the close of the tax year. 2000 corporate income tax returns are available at the IRB St. Thomas office, 9601 Estate Thomas; and on St. Croix at 4008 Estate Diamond in Christiansted.
For more information, call the office of chief counsel, 774-5865 ext. 2249 or 714-9312 on St. Thomas; or 773-1040 ext. 226 on St. Croix.

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A statement from the Bureau of Internal Revenue reminds corporate taxpayers on the calendar year that the 10 percent surcharge on total tax liability is due Thursday, March 15.
The surcharge must be paid with the corporation's regular tax on Form 1120. The surcharge is computed as 10 percent of the amount shown on Line 31 of 2000 Form 1120, U.S. Corporate Income Tax Return; Line 27 of Form 1120A, the U.S. Corporate Short Form Income Tax Return; Line 22c of Form 1120S, U.S. Income Tax Return for an S corporation; and Line 5 -- 2000 Form 1120F, U.S. Income Tax Return for a Foreign Corporation.
V.I. corporations and foreign corporations with a V.I. office must file returns by the 15th day of the third month after the close of the tax year. 2000 corporate income tax returns are available at the IRB St. Thomas office, 9601 Estate Thomas; and on St. Croix at 4008 Estate Diamond in Christiansted.
For more information, call the office of chief counsel, 774-5865 ext. 2249 or 714-9312 on St. Thomas; or 773-1040 ext. 226 on St. Croix.