2014 Idaho Statutes
Title 63 - REVENUE AND TAXATION
Chapter 30 - INCOME TAX
Section 63-3036A - PAYMENT OF ESTIMATED TAX.
(b) The provisions of the Internal Revenue Code relating to determination of reporting periods and the due dates of payments of estimated tax shall apply to the estimated payments due under this section.
(c) The amount of estimated tax due shall be determined as follows:
(d) The amounts paid as estimated taxes pursuant to subsection (c) of this section shall be considered to be in part payment of the tax imposed by this chapter on the person reporting such estimated tax. The part payment shall apply to such tax for the tax year during which the reporting period for which the estimate is made occurs. In the event that such part payments, together with all other part payments, estimated payments, withheld taxes or other credits allowable against the taxes imposed by this chapter shall exceed the amount of tax due, the state tax commission shall refund such excess within the time and in the manner prescribed in section 63-3072(c), Idaho Code, relating to refund of taxes withheld by employers.
(e) The provisions of this section shall in no way relieve any person from any obligation to file a return under any provision of this chapter at the time such return may be due. In the event that the estimated payments required under this section, together with any other part payments, estimated payments, withheld taxes or other credits applicable to the same taxable year are less than the amount of taxes imposed by this chapter, the unpaid tax shall be paid at the time prescribed in section 63-3034, Idaho Code.
(f) The payment due for the first full reporting period occurring after the effective date of this act, and the payment due for each of the next three (3) succeeding reporting periods shall be one-half (1/2) of the amount otherwise due under this section.
History:
[63-3036A, added 1987, ch. 342, sec. 4, p. 728; am. 1991, ch. 7, sec. 4, p. 24; am. 2001, ch. 56, sec. 3, p. 104.]
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