Section 83-F:5 Returns and Declarations.
I. On or before January 15 each year, each utility or person liable for the tax shall file with the commissioner of revenue administration, on a form prescribed by the commissioner, a return based on the valuation for April 1 of the prior year. The return shall be accompanied by the payment of such amount as has not been prepaid in accordance with paragraph III of this section. If the return shows an additional amount to be due, such additional amount is due and payable at the time the return is filed. If such return shows an overpayment of the tax due, a credit against a subsequent payment or payments due, to the extent of the overpayment, shall be allowed.
II. On or before April 15 of each year, a person with an ownership interest in the utility property, may elect to have the tax assessed in the proportion that such person's ownership interest bears to the entirety of the ownership in the property. If such an election is made, on or before April 15 of each year, each utility property owner liable to pay the tax imposed by this chapter shall file with the department, on a form prescribed by the commissioner, a statement setting forth the amount of such person's ownership interest as of April 1. The statement shall include such additional information as the commissioner shall require and shall be signed by an authorized representative, subject to the pains and penalties of perjury.
III. For taxable periods ending before April 1, 2000, each utility or property owner liable to pay the tax shall, in addition, file a declaration on or before July 1, 1999 of the estimated tax to be assessed as of April 1 in the current taxable period, based on the equalized value of utility property used in the department's equalization report for April 1, 1998 accompanied by payment of 1/3 of the estimated tax due. Additional payments of 1/3 of the estimated tax shall be made on September 15, 1999 and December 15, 1999.
IV. For taxable periods ending after March 31, 2000, at the time the statement required by paragraph II is filed, each person or utility liable for the tax shall, in addition, file a declaration of the estimated tax to be assessed as of April 1 in the current taxable period, based on the tax assessed for the preceding taxable year, accompanied by payment of 1/4 of the estimated tax due. Additional payments of 1/4 of the estimated tax shall be made on June 15, September 15, and December 15.
V. (a) As of May 1 of each year the utility shall file a form, designated by the commissioner, that details the utility's actual financial operating performance, including utility income and all expenses, original cost, and depreciated value of all the utility's assets, since the prior April 1 of the preceding year. This statement shall include such additional information as the commissioner shall require and shall be signed by an authorized representative, subject to the pains and penalties of perjury.
(b) If by May 1 the taxpayer is unable to file the form as required under subparagraph (a), the taxpayer shall request an extension from the department. Such extension shall be valid only upon written confirmation from the department, and shall not exceed 30 days per request. No more than 2 extensions shall be granted in a given tax year.
VI. Taxes and estimated taxes not paid when due shall be subject to appropriate penalties and interest under RSA 21-J.
VII. Any person who fails to file a completed form as required under paragraph V on or before May 1, or by the date granted by an extension, if applicable, shall pay a penalty of one percent of the property tax for which the person is liable. In no case, however, shall the penalty be less than $250 or more than $2,500. This penalty shall be treated as incident to the tax and shall be in addition to any other penalty applicable pursuant to paragraph VI.
VIII. No later than 30 days prior to an anticipated sale or transfer of a utility's property or assets, the taxpayer responsible for the previous year's utility tax filing under this chapter, shall notify the department in writing. Such notice shall include the name and address of the anticipated grantee, the date of the anticipated transfer, and all the terms of transaction.
Source. 1999, 17:35; 303:5, eff. July 16, 1999. 2007, 216:1, 2, eff. Aug. 24, 2007.