(1) Every person, firm, corporation or association liable for the tax under the provisions of this chapter, shall make and file with the State Tax Commission a full and correct report of the total amount of the indebtedness it has secured by tangible personal property located in Mississippi and pay to the State Tax Commission the tax computed as provided in Section 27-21-5. Such report and payment are due as follows: For the period January 1 through March 31, the report and payment are due April 20; For the period April 1 through June 30, the report and payment are due July 20; For the period July 1 through September 30, the report and payment are due October 20; For the period October 1 through December 31, the report and payment are due January 20.
(2) An amended report for March through May 1994, along with indebtedness acquired for June 1994, shall be due July 20, 1994.