Certain Corporations Will Soon Be Required to File Their Income Tax Returns Online
As of June 2010, corporations whose gross annual revenue is over one million dollars and whose fiscal period ends after May 31, 2010, will be required to file their income tax returns electronically. This does not apply to non-resident corporations, insurance corporations and corporations filing their income tax returns in a foreign currency.
To file a corporation income tax return electronically, you can choose either of the following options:
- Have your corporation registered for Revenu Québec's online services (if it has not been done already). You will then be able to complete your income tax return using software authorized by Revenu Québec and file it electronically. Make sure you use the most recent version of the software. You can also have a tax preparer or transmitter file your corporation income tax return using Revenu Québec's online services. In that case, you must provide the tax preparer or transmitter with a power of attorney.
- Use the services of a certified tax preparer who can submit your income tax return through ImpôtNet Québec. The tax preparer needs your authorization before filing the return. You must complete and sign two copies of form CO-1000.TE, Transmission par Internet de la déclaration de revenus d'une société, and provide one to the tax preparer. You and the tax preparer must each keep a duly signed copy of the form for at least six years after the end of the taxation year covered by the form.
For more information, click Online Filing of Corporation Income Tax Returns.