Many taxpayers extend their federal income tax return filings until months after the San Francisco gross receipts tax (GRT) returns are due. However, taxpayers might have estimated their federal gross income in order to file their San Francisco GRT returns on time, which may have resulted in an overpayment of the San Francisco GRT.
The San Francisco GRT returns and payment of tax are due by the last day of February of the following year, so the 2016 San Francisco GRT tax return as well as the payment are due on or before February 28, 2017. A two-month extension to file the San Francisco GRT return is available to taxpayers that pay at least 90 percent of their quarterly estimated tax liability by the due date (not by the extended due date) of the GRT return.
In general, for San Francisco GRT purposes, the term gross receipts includes, but isn’t limited to, all amounts that constitute gross income for federal income tax purposes.
Refund Claims for San Francisco Gross Receipts Tax
Taxpayers who may have overpaid the GRT should consider filing GRT refund claims before the one-year statute of limitations on such claims expires. If they timely filed their San Francisco 2015 GRT returns on February 29, 2016, then refund claims relating to these returns should be filed before February 28, 2017.
Claims should be filed within one year of the overpayment or the date the return accompanying such payment was due, whichever is later.
We're Here to Help
If you have any questions about securing a refund for overpayment of the San Francisco gross receipts tax, please contact your Moss Adams professional or email statetax@mossadams.com.