Section 40-18-82 Estimated tax. - Alabama Statutes

Section 40-18-82

Estimated tax.

(a) Individuals shall remit in accordance with subsection (b) if net income from sources other than wages, in the case of a single person or married persons filing separate returns, can reasonably be expected to exceed $1,875 for the taxable year; and in the case of married persons living with husband or wife and filing a joint return, if net income can be reasonably expected to exceed $3,750.

(b) The payments required under subsection (a) shall be remitted to the department on or before April 15 of the taxable year; except, that if the requirements of subsection (a) are first met:

(1) After April 1 and before June 2 of the taxable year, the payment shall be remitted on or before June 15 of the taxable year;

(2) After June 1 and before September 2 of the taxable year, the payment shall be remitted on or before September 15 of the taxable year; or

(3) After September 1 of the taxable year, the payment shall be remitted on or before January 15 of the succeeding taxable year. However, if a return is filed and payment made by January 15 of the succeeding taxable year by individuals, the estimated payment provided for by this subsection shall not be required.

(Acts 1955, No. 289, p. 661, §13; Acts 1983, No. 83-741, p. 1214, §3; Acts 1993, 1st Ex. Sess., No. 93-852, p. 95, §6; Act 2001-1088, 4th Sp. Sess., p. 1095, §5.)