(a)

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Terms Used In Alabama Code 40-16-3.1

(1) For tax years beginning on or after January 1, 2021, a financial institution excise taxpayer shall be allowed one month following the due date of the corresponding federal income tax return, including applicable extensions, to file the Alabama financial institution excise tax return as required by Section 40-16-3, Code of Alabama 1975.
(2) For tax years beginning on or after January 1, 2020, but prior to January 1, 2021, the department may allow a financial institution excise taxpayer one additional month following the due date of the corresponding federal income tax return, including applicable extensions, to file the Alabama financial institution excise tax return, upon request by the taxpayer and approval by the department.
(b) The extension provided in this section shall not allow a taxpayer to defer payment of a financial institution excise tax liability beyond the original due date provided in Section 40-16-3, Code of Alabama 1975.
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