Iowa Admin. Code r. 701-505.1 - Who must pay estimated tax
(1)
General rule. Every corporate taxpayer, including both
domiciliary and nondomiciliary corporations, shall pay estimated tax if the
amount of tax payable, less credits, can reasonably be expected to be more than
$1,000 for the calendar or fiscal year. The amount of estimated tax paid shall
be used as a credit on the Iowa corporate income tax return.
(2)
Definition. For purposes
of this division, "estimated tax" means the amount which the taxpayer estimates
to be the tax due and payable under division III of Iowa Code chapter 422.
This rule is intended to implement Iowa Code section 422.85.
Notes
Editorial change: IAC Supplement 11/2/22
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