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Instructions for Form T-74
for the current year.
Instructions for Form T-74 Banking Institution Excise Tax Return - Rhode Island
This document contains official instructions for Form T-74 , Banking Institution Excise Tax Return - a form released and collected by the Rhode Island Department of Revenue - Division of Taxation. An up-to-date fillable Form T-74 is available for download through this link.
FAQ
Q: What is Form T-74?A: Form T-74 is the Banking InstitutionExcise Tax Return in Rhode Island.
Q: Who is required to file Form T-74?A: Banking institutions in Rhode Island are required to file Form T-74.
Q: What is the purpose of Form T-74?A: Form T-74 is used to report and pay the excise tax imposed on banking institutions in Rhode Island.
Q: What information is required to complete Form T-74?A: The form requires information about the banking institution's income and deductions for the tax year.
Q: When is the deadline to file Form T-74?A: Form T-74 must be filed by the last day of the fourth month following the close of the tax year.
Q: Are there any penalties for late filing of Form T-74?A: Yes, there are penalties for late filing and late payment of the excise tax.
Q: Is there a minimum threshold for filing Form T-74?A: Yes, banking institutions with total assets of less than $10 million are exempt from filing Form T-74.
Q: Can Form T-74 be filed electronically?A: Yes, banking institutions have the option to file Form T-74 electronically.
Q: Is there a separate form for estimated tax payments?A: No, estimated tax payments can be included with the annual Form T-74 filing.
Instruction Details:
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