Taxpayers with franchise and excise tax liabilities of at least $5,000, after application of all available tax credits, in each of the current and prior tax years must make four estimated payments for the current tax period. (If the prior tax period was for less than 12 months, then the tax liability is annualized for these purposes.) For example, if a taxpayer’s franchise and excise tax liability was $6,000 last year, but only $4,000 this year, the taxpayer is not required to file estimated payments for the current or the following tax year.
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