Credit Statement Explanation

Is the credit listed on my statement valid?

Credit balances can be applied to amounts due only on the account number printed on the credit statement. Credits may be the result of a calculation error on a tax return form. If your records do not indicate that the credit is correct, you may need to file an amended return or contact us. We suggest that you verify the credit balance by contacting a Tax Accounting Section representative.

How is the credit applied?

Credits will be applied automatically against other balances, such as license fees or late fees. If you have no outstanding liability due for the credit to apply to, you may apply the verified credit to your next tax period by entering the credit amount on line 10 of the tax return form and attach the credit statement to the return form.

How do I request a refund?

Credits must be used within one year of the initial notice of credit and are normally not refunded if the credit can be applied against taxes or fees due within that period. To apply an outstanding credit, submit future tax return(s) without payment until the credit is exhausted. A refund will only be issued if the account is current (no outstanding balances (nor unfiled tax returns) and the refund request is signed by an authorized person. To request a refund, complete the Refund Claim Form.