1460 - Declarations of estimated tax.

§   1460.   Declarations   of   estimated  tax.  (a)  Requirements  of  declaration.--Every taxpayer subject to the tax  imposed  by  subsection  (a)  of  section  fourteen hundred fifty-one shall make a declaration of  its  estimated  tax  for  the  current  taxable  year,  containing  such  information as the commissioner of taxation and finance may prescribe by  regulations  or  instructions,  if  such estimated tax can reasonably be  expected to exceed one thousand dollars. If a taxpayer is subject to the  tax surcharge imposed by section fourteen hundred fifty-five-B and  such  taxpayer's  estimated  tax  under  subsection  (a)  of  section fourteen  hundred fifty-one can reasonably be  expected  to  exceed  one  thousand  dollars,  such  taxpayer  shall also make a declaration of its estimated  tax surcharge for the current taxable year.    (b) Definition of estimated  tax  and  estimated  tax  surcharge.--The  terms  "estimated  tax"  and  "estimated tax surcharge" mean the amounts  which a taxpayer estimates to be the tax or  tax  surcharge  imposed  by  subsection (a) of section fourteen hundred fifty-one or fourteen hundred  fifty-five-B,  respectively,  for  the  current  taxable  year, less the  amount which it estimates to be the sum of any credits allowable against  the tax or tax surcharge, respectively.    (c) Time for filing declaration.--A declaration of estimated tax and a  declaration of estimated tax surcharge shall be filed on or before  June  fifteenth  of  the  current taxable year in the case of a taxpayer which  reports on the basis of a calendar year, except that if the requirements  of subsection (a) of this section are first met:    (1) after May thirty-first and before September first of such  current  taxable  year,  the  declaration  shall  be filed on or before September  fifteenth, or    (2) after August  thirty-first  and  before  December  first  of  such  current  taxable  year,  the  declaration  shall  be  filed on or before  December fifteenth.    (d) Amendments of declaration.--A taxpayer  may  amend  a  declaration  under regulations of the tax commission.    (e) Return as declaration.--If, on or before February fifteenth of the  succeeding  year  in  the  case  of  a  taxpayer whose taxable year is a  calendar year, a taxpayer files its return for the year  for  which  the  declaration  is required, and pays therewith the balance, if any, of the  full amount of the tax or tax surcharge shown to be due on the return:    (1)  such  return  shall  be  considered  as  its  declaration  if  no  declaration  was  required to be filed during the taxable year for which  the tax or tax surcharge was imposed, but is otherwise  required  to  be  filed  on  or  before  December  fifteenth  pursuant to paragraph two of  subsection (c) of this section, and    (2) such return shall be considered  as  the  amendment  permitted  by  subsection  (d)  of  this  section  to  be  filed  on or before December  fifteenth if the tax or tax surcharge shown on  the  return  is  greater  than  the  estimated tax or estimated tax surcharge, as the case may be,  shown on a declaration previously made.    (f) Fiscal year.--This section shall apply to taxable years of  twelve  months  other than a calendar year by the substitutions of the months of  such fiscal year for the corresponding months specified in this section.    (g) Short taxable period.--If the taxable period for which  a  tax  or  tax  surcharge  is imposed by subsection (a) of section fourteen hundred  fifty-one or section fourteen  hundred  fifty-five-B,  respectively,  is  less  than  twelve months, every taxpayer required to make a declaration  of estimated tax or a declaration of estimated tax  surcharge  for  such  taxable  period  shall  make  such  a  declaration  in  accordance  with  regulations of the commissioner of taxation and finance.(h) Extension of time.--The tax  commission  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.