Sec. 12-205. Annual return. Extensions.
Sec. 12-205. Annual return. Extensions. Each domestic insurance company doing business in this state shall, on or before the first day of March, annually, render to
the Commissioner of Revenue Services an annual return, on forms prescribed or furnished by the commissioner and signed by one of the principal officers of such company,
stating specifically the name of the company and the location of its principal office,
the names and locations of any subsidiary domestic insurance companies or insurance
holding companies, the interest, dividends, premiums and other items of gross income
received by such company and by each of the departments of such company during the
next preceding calendar year, the deductions from such items of gross income as specified in this chapter and such other information as the commissioner may require for the
purpose of making any computations required by this chapter and for the enforcement
of this chapter. The amount of tax reported to be due on such return shall be due and
payable on or before said first day of March. Payments shall be made in cash or by check,
draft or money order drawn to the order of the Commissioner of Revenue Services. The
commissioner may, for good cause shown, extend the time for making the return and
paying the tax, if a written request is filed with the commissioner together with a tentative
return which must be accompanied by a payment of the tax reported to be due thereon
on or before said first day of March. Any company to which an extension is granted
shall pay, in addition to the tax, interest at the rate of one per cent per month or fraction
thereof from the date on which the tax would have been due without the extension until
the date of payment.
(1949 Rev., S. 1886; P.A. 77-614, S. 139, 610; P.A. 85-381, S. 1; P.A. 93-361, S. 3; P.A. 97-243, S. 8, 67; P.A. 98-244, S. 4, 35.)
History: P.A. 77-614 substituted commissioner of revenue services for tax commissioner, effective January 1, 1979;
P.A. 85-381 made technical changes in language, deleted provision imposing $1,000 fine for failure to make return in
timely fashion, and added provision re the date such tax is due and specifying the manner of payment; P.A. 93-361 authorized
commissioner to extend the time for making return and imposed interest penalty; P.A. 97-243 reduced rate of interest from
1.66% to 1%, effective June 24, 1997, and applicable to taxes due and owing on or after July 1, 1995; P.A. 98-244 eliminated
notarization requirement, effective June 8, 1998, and applicable to calendar years commencing on or after January 1, 1998.