However, often an overpayment is refunded directly to you. An overpayment may also be offset or intercepted by the Department of Revenue and applied to another liability. ![]() Additionally, when you file an amended return or an abatement application to reduce the amount of tax due, and you previously paid more than what is now shown as due, an overpayment may be generated.Īn overpayment claimed on a return may be applied as a credit for your next year’s estimated tax or you may request that it be refunded to you. An overpayment may also be generated if you are entitled to a refundable credit that exceeds the amount of tax due. When you pay more taxes (i.e., withholding taxes or estimated taxes) than the amount of taxes determined to be due an overpayment may be generated on your account. Repair or Replacement of Failed Cesspool or Septic System Credit (Title V) ![]() Life Sciences Company Credit - Alternative Refundable Amount Income Tax Paid to Another Jurisdiction Credit Repayment of supplemental unemployment benefitsĬertified Housing Development Tax Credit (CHDC)Įconomic Development Incentive Program Credit (EDIPC)ġ0 years after (or 5 years after, depending on circumstances)įilm Incentive Tax Credit (Payroll and production expense credits not used) Out-of-state employee contributory government pension Incapacitated firefighter or police officer income exclusion
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