US Laws, Codes, Statutes & Cases

 
    §  11-607  Declaration  of estimated tax. 1. Every taxpayer subject to
  the tax imposed by section  11-603  of  this  subchapter  shall  make  a
  declaration  of  its  estimated  tax  for  the current privilege period,
  containing such information as the commissioner of finance may prescribe
  by regulations or instructions, if such estimated tax can reasonably  be
  expected to exceed one thousand dollars.
    2.  The  term  "estimated  tax"  means  the  amount  which  a taxpayer
  estimates to be the tax imposed by section 11-603 of this subchapter for
  the current privilege period, less the amount which it estimates  to  be
  the  sum  of any credits allowable against the tax other than the credit
  allowable under subdivision eleven of section 11-604 of this subchapter.
    3. In the case of a taxpayer which reports on the basis of a  calendar
  year,  a  declaration  of estimated tax shall be filed on or before June
  fifteenth  of  the  current  privilege  period,  except  that   if   the
  requirements of subdivision one are first met:
    (a)  after May thirty-first and before September first of such current
  privilege period, the declaration shall be filed on or before  September
  fifteenth, or
    (b)  after  August  thirty-first  and  before  December  first of such
  current privilege period, the declaration shall be filed  on  or  before
  December fifteenth.
    4.  A  taxpayer  may  amend  a  declaration  under  regulations of the
  commissioner of finance.
    5. If, on or before February fifteenth of the succeeding year  in  the
  case  of  a  taxpayer  which  reports on the basis of a calendar year, a
  taxpayer files its report for the year  for  which  the  declaration  is
  required,  and pays therewith the balance, if any, of the full amount of
  the tax shown to be due on the report,
    (a)  such  report  shall  be  considered  as  its  declaration  if  no
  declaration  is  required to be filed during the calendar or fiscal year
  for which the tax was imposed, but is otherwise required to be filed  on
  or before December fifteenth pursuant to subdivision three, and
    (b)  such  report  shall  be  considered as the amendment permitted by
  subdivision four to be filed on or before December fifteenth if the  tax
  shown  on  the  report  is  greater  than  the  estimated tax shown on a
  declaration previously made.
    6. This section shall apply to  privilege  periods  of  twelve  months
  other  than  a  calendar  year by the substitution of the months of such
  fiscal year for the corresponding months specified in this section.
    7. If the privilege period for which  a  tax  is  imposed  by  section
  11-603  of  this  subchapter  is less than twelve months, every taxpayer
  required to make a declaration  of  estimated  tax  for  such  privilege
  period  shall  make such a declaration in accordance with regulations of
  the commissioner of finance.
    8. The commissioner of finance may grant  a  reasonable  extension  of
  time,  not  to  exceed  three  months, for the filing of any declaration
  required pursuant to this section, on such terms and  conditions  as  it
  may require.