Download as PDF
1
INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.86
422.86 Payment of estimated tax.
A taxpayer required to pay estimated tax under section 422.85 shall pay the estimated tax
in accordance with the following schedule:
1. If it is first determined that the estimated tax will be greater than one thousand dollars
on or before the last day of the fourth month of the taxable year, the estimated tax shall be
paid in four equal installments. The first installment shall be paid not later than the last day of
the fourth month of the taxable year. The second and third installments shall be paid not later
than the last day of the sixth and ninth months of the taxable year, and the final installment
shall be paid on or before the last day of the taxable year.
2. If it is first determined that the estimated tax will be greater than one thousand dollars
after the last day of the fourth month but not later than the last day of the sixth month of the
taxable year, the estimated tax shall be paid in three equal installments. The first installment
shall be paid not later than the last day of the sixth month of the taxable year. The second
installment shall be paid on or before the last day of the ninth month of the taxable year and
the third installment shall be paid on or before the last day of the taxable year.
3. If it is first determined that the estimated tax will be greater than one thousand dollars
after the last day of the sixth month but not later than the last day of the ninth month of the
taxable year, the estimated tax shall be paid in two equal installments. The first installment
shall be paid not later than the last day of the ninth month and the second installment shall
be paid on or before the last day of the taxable year.
4. If it is first determined that the estimated tax will be greater than one thousand dollars
after the last day of the ninth month of the taxable year, the estimated tax shall be paid in full
on or before the last day of the taxable year.
5. If, after paying any installment of estimated tax, the taxpayer makes a new estimate,
the remaining installments shall be ratably adjusted to reflect the increase or decrease in the
estimated tax.
[C79, 81, §422.86]
89 Acts, ch 251, §27
Wed Feb 08 03:45:05 2017
Iowa Code 2017, Section 422.86 (11, 0)
Disclaimer: These codes may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
