A. The estimated tax with respect to which a declaration is required shall bepaid as follows:
1. If the declaration is filed on or before May 1 of the taxable year, theestimated tax shall be paid in four equal installments. The first installmentshall be paid at the time of the filing of the declaration, and the second,third and fourth installments shall be paid on the following June 15,September 15, and January 15, respectively.
2. If the declaration is filed after May 1 and not after June 15 of thetaxable year, and is not required to be filed on or before May 1 of thetaxable year, the estimated tax shall be paid in three equal installments.The first installment shall be paid at the time of the filing of thedeclaration, and the second and third installments shall be paid on thefollowing September 15 and January 15, respectively.
3. If the declaration is filed after June 15 and not after September 15 ofthe taxable year, and is not required to be filed on or before June 15 of thetaxable year, the estimated tax shall be paid in two equal installments. Thefirst installment shall be paid at the time of the filing of the declaration,and the second shall be paid on the following January 15.
4. If the declaration is filed after September 15 of the taxable year, and isnot required to be filed on or before September 15 of the taxable year, theestimated tax shall be paid in full at the time of the filing of thedeclaration.
5. If the declaration is filed after the time prescribed therefor, or afterthe expiration of any extension of time therefor, subdivisions 2, 3, and 4 ofthis subsection shall not apply, and there shall be paid at the time of suchfiling all installments of estimated tax payable at or before such time, andthe remaining installments shall be paid at the times at which, and in theamounts in which, they would have been payable if the declaration had beenfiled when due.
B. If an individual referred to in subsection F of § 58.1-490 (relating toincome from farming or fishing) makes a declaration of estimated tax afterSeptember 15 of the taxable year and on or before the following January 15,the estimated tax shall be paid in full at the time of the filing of thedeclaration.
C. If any amendment of a declaration is filed, the remaining installments, ifany, shall be ratably increased or decreased (as the case may be) to reflectany increase or decrease in the estimated tax by reason of such amendment,and if any amendment is made after September 15 of the taxable year, anyincrease in the estimated tax by reason thereof shall be paid at the time ofmaking such amendment.
D. This section shall apply to a taxable year of less than twelve months inaccordance with regulations of the Tax Commissioner.
E. This section shall apply to a taxable year other than a calendar year bythe substitution of the months of such fiscal year for the correspondingmonths specified in this section.
F. An individual may elect to pay any installment of his estimated tax priorto the date prescribed for its payment. An individual may also elect to filea declaration of estimated tax in the closing days of a calendar year for histaxable year about to begin, and may pay in full the amount of his estimatedtax for such taxable year at the time he files the declaration.
G. Payment of the estimated tax, or any installment thereof, shall beconsidered payment on account of the tax for the taxable year.
H. The Tax Commissioner may grant a reasonable extension of time for paymentof estimated tax (or any installment), or for filing any declaration pursuantto this article, on condition that the taxpayer shall pay interest on theamount involved at a rate determined in accordance with § 58.1-15, from thetime the payment was due until the time of payment. Except for a taxpayer whois outside the United States, no such extension shall exceed six months.
(Code 1950, § 58-151.22; 1962, c. 612; 1978, c. 157; 1984, c. 675.)
A. The estimated tax with respect to which a declaration is required shall bepaid as follows:
1. If the declaration is filed on or before May 1 of the taxable year, theestimated tax shall be paid in four equal installments. The first installmentshall be paid at the time of the filing of the declaration, and the second,third and fourth installments shall be paid on the following June 15,September 15, and January 15, respectively.
2. If the declaration is filed after May 1 and not after June 15 of thetaxable year, and is not required to be filed on or before May 1 of thetaxable year, the estimated tax shall be paid in three equal installments.The first installment shall be paid at the time of the filing of thedeclaration, and the second and third installments shall be paid on thefollowing September 15 and January 15, respectively.
3. If the declaration is filed after June 15 and not after September 15 ofthe taxable year, and is not required to be filed on or before June 15 of thetaxable year, the estimated tax shall be paid in two equal installments. Thefirst installment shall be paid at the time of the filing of the declaration,and the second shall be paid on the following January 15.
4. If the declaration is filed after September 15 of the taxable year, and isnot required to be filed on or before September 15 of the taxable year, theestimated tax shall be paid in full at the time of the filing of thedeclaration.
5. If the declaration is filed after the time prescribed therefor, or afterthe expiration of any extension of time therefor, subdivisions 2, 3, and 4 ofthis subsection shall not apply, and there shall be paid at the time of suchfiling all installments of estimated tax payable at or before such time, andthe remaining installments shall be paid at the times at which, and in theamounts in which, they would have been payable if the declaration had beenfiled when due.
B. If an individual referred to in subsection F of § 58.1-490 (relating toincome from farming or fishing) makes a declaration of estimated tax afterSeptember 15 of the taxable year and on or before the following January 15,the estimated tax shall be paid in full at the time of the filing of thedeclaration.
C. If any amendment of a declaration is filed, the remaining installments, ifany, shall be ratably increased or decreased (as the case may be) to reflectany increase or decrease in the estimated tax by reason of such amendment,and if any amendment is made after September 15 of the taxable year, anyincrease in the estimated tax by reason thereof shall be paid at the time ofmaking such amendment.
D. This section shall apply to a taxable year of less than twelve months inaccordance with regulations of the Tax Commissioner.
E. This section shall apply to a taxable year other than a calendar year bythe substitution of the months of such fiscal year for the correspondingmonths specified in this section.
F. An individual may elect to pay any installment of his estimated tax priorto the date prescribed for its payment. An individual may also elect to filea declaration of estimated tax in the closing days of a calendar year for histaxable year about to begin, and may pay in full the amount of his estimatedtax for such taxable year at the time he files the declaration.
G. Payment of the estimated tax, or any installment thereof, shall beconsidered payment on account of the tax for the taxable year.
H. The Tax Commissioner may grant a reasonable extension of time for paymentof estimated tax (or any installment), or for filing any declaration pursuantto this article, on condition that the taxpayer shall pay interest on theamount involved at a rate determined in accordance with § 58.1-15, from thetime the payment was due until the time of payment. Except for a taxpayer whois outside the United States, no such extension shall exceed six months.
(Code 1950, § 58-151.22; 1962, c. 612; 1978, c. 157; 1984, c. 675.)
A. The estimated tax with respect to which a declaration is required shall bepaid as follows:
1. If the declaration is filed on or before May 1 of the taxable year, theestimated tax shall be paid in four equal installments. The first installmentshall be paid at the time of the filing of the declaration, and the second,third and fourth installments shall be paid on the following June 15,September 15, and January 15, respectively.
2. If the declaration is filed after May 1 and not after June 15 of thetaxable year, and is not required to be filed on or before May 1 of thetaxable year, the estimated tax shall be paid in three equal installments.The first installment shall be paid at the time of the filing of thedeclaration, and the second and third installments shall be paid on thefollowing September 15 and January 15, respectively.
3. If the declaration is filed after June 15 and not after September 15 ofthe taxable year, and is not required to be filed on or before June 15 of thetaxable year, the estimated tax shall be paid in two equal installments. Thefirst installment shall be paid at the time of the filing of the declaration,and the second shall be paid on the following January 15.
4. If the declaration is filed after September 15 of the taxable year, and isnot required to be filed on or before September 15 of the taxable year, theestimated tax shall be paid in full at the time of the filing of thedeclaration.
5. If the declaration is filed after the time prescribed therefor, or afterthe expiration of any extension of time therefor, subdivisions 2, 3, and 4 ofthis subsection shall not apply, and there shall be paid at the time of suchfiling all installments of estimated tax payable at or before such time, andthe remaining installments shall be paid at the times at which, and in theamounts in which, they would have been payable if the declaration had beenfiled when due.
B. If an individual referred to in subsection F of § 58.1-490 (relating toincome from farming or fishing) makes a declaration of estimated tax afterSeptember 15 of the taxable year and on or before the following January 15,the estimated tax shall be paid in full at the time of the filing of thedeclaration.
C. If any amendment of a declaration is filed, the remaining installments, ifany, shall be ratably increased or decreased (as the case may be) to reflectany increase or decrease in the estimated tax by reason of such amendment,and if any amendment is made after September 15 of the taxable year, anyincrease in the estimated tax by reason thereof shall be paid at the time ofmaking such amendment.
D. This section shall apply to a taxable year of less than twelve months inaccordance with regulations of the Tax Commissioner.
E. This section shall apply to a taxable year other than a calendar year bythe substitution of the months of such fiscal year for the correspondingmonths specified in this section.
F. An individual may elect to pay any installment of his estimated tax priorto the date prescribed for its payment. An individual may also elect to filea declaration of estimated tax in the closing days of a calendar year for histaxable year about to begin, and may pay in full the amount of his estimatedtax for such taxable year at the time he files the declaration.
G. Payment of the estimated tax, or any installment thereof, shall beconsidered payment on account of the tax for the taxable year.
H. The Tax Commissioner may grant a reasonable extension of time for paymentof estimated tax (or any installment), or for filing any declaration pursuantto this article, on condition that the taxpayer shall pay interest on theamount involved at a rate determined in accordance with § 58.1-15, from thetime the payment was due until the time of payment. Except for a taxpayer whois outside the United States, no such extension shall exceed six months.
(Code 1950, § 58-151.22; 1962, c. 612; 1978, c. 157; 1984, c. 675.)
