Monday, May 5, 2014

E-filing increases for business tax returns

Approximately 22,500 Rhode Island business tax returns have been e-filed so far this year, up from approximately 19,300 at the same point last year, an increase of 17 percent. 


Overall, approximately 86 percent of all business tax returns for tax year 2013 were e-filed, compared with approximately 77 percent of such returns for tax year 2012. (The figures are for business tax returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065, in the aggregate.)

There are two chief factors for the continuing increase in corporate e-filing. The Division of Taxation mandated the electronic filing of corporate tax returns beginning with the filing season that started January 1, 2013. In addition, more software providers are making corporate e-file available to tax preparers.





TY 2012
TY 2013
Difference
Total returns filed
25,024
26,049
+4.1%
Total e-filed
19,280
22,477
+16.6%
% e-filed
77%
86%
+12.0%
Aggregation of returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065, for tax year 2012 filed through April 27, 2013, and for tax year 2013 filed through April 26, 2014. Some figures rounded.