17 NCAC 03C .0108. EXTENSIONS

(a)  Application. -- If the Gift Tax Return, Form G-600, cannot be filed by the due date of April 15, a donor may apply for an automatic six-month extension of time to file the return.  To receive the extension, a donor must file Form D-410G, Application for Extension for Filing Gift Tax Return, by the original due date of the return.

(b)  Late Payment Penalty. -- An extension does not extend the time for payment of the tax due.  Tax not paid by the original due date of the return is subject to the 10 percent penalty for failure to pay a tax when due.  The Department does not assess this penalty if the donor paid at least 90 percent of the amount of tax due by the original due date of the return.  Interest applies to all amounts not paid by the original due date of the return.

(c)  Donors Outside U.S. - Donors, including military personnel, living outside the United States and Puerto Rico are granted an automatic extension of four months for filing a North Carolina gift tax return.  No application is required to receive this extension.

(d)  Return. -- A return may be filed at any time within the extension period.  A return that is filed after the end of the extension period is subject to the penalty for failure to file a return.

 

History Note:        Authority G.S. 105-197; 105-236; 105-262; 105-263;

Eff. June 1, 1993;

Amended Eff. May 1, 2006; August 1, 2002; July 1, 2000; August 1, 1998.