Instructions for Form T-74 Banking Institution Excise Tax Return - Rhode Island

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 needs to file Form T-74?A: Banking institutions in Rhode Island need to file Form T-74.

Q: What is the purpose of Form T-74?A: The purpose of Form T-74 is to report and pay the banking institution excise tax in Rhode Island.

Q: When is Form T-74 due?A: Form T-74 is due on or before the 15th day of the fourth month following the close of the institution's taxable year.

Q: Are there any penalties for late filing of Form T-74?A: Yes, there are penalties for late filing of Form T-74. It is important to file the form on time to avoid penalties.

Q: Can Form T-74 be filed electronically?A: Yes, Form T-74 can be filed electronically through the Rhode Island Business Portal.

Q: Are there any specific requirements for recordkeeping related to Form T-74?A: Yes, banking institutions are required to keep records related to Form T-74 for at least three years from the due date of the tax return or the date the tax was paid, whichever is later.