(1)
Time for filing.
a.
General rule. The date
for filing the first estimated tax payment is on or before the last day of the
fourth month of the tax year. The estimated tax form is to be filed with the
Franchise Estimate Processing, P.O. Box 10413, Des Moines, Iowa
50306.
b.
Amended
estimates. Generally, whenever a taxpayer who is required to make
estimated tax payments has reason to believe that its Iowa franchise tax may
increase or decrease, an amended estimate shall be filed at such time to
reflect the increase or decrease in estimated Iowa franchise tax. The amended
estimate shall be made on or before the next installment date. The unpaid
balance after amending the estimate should be paid in equal installments on the
remaining payment dates.
(2)
Payment of estimated
tax.
a.
General
rule. Estimates may be paid in full at the time of the first filing or
in four equal installments. The taxpayer may also elect to pay any installment
prior to the date prescribed.
b.
Calendar year. The first installment for a corporation filing
on a calendar year basis is due by April 30. The other installments, if
applicable, shall be paid on or before June 30, September 30, and December 31
of the current year.
c.
Fiscal year. The installment dates for a financial institution
filing on a fiscal year basis are:
Installment No. 1. The last day of the fourth month of the
fiscal year.
Installment No. 2. The last day of the sixth month of the
fiscal year.
Installment No. 3. The last day of the ninth month of the
fiscal year.
Installment No. 4. The last day of the twelfth month of the
fiscal year.
This rule is intended to implement Iowa Code sections
422.85 as amended by 1989 Iowa
Acts, Senate File 154, and 422.86.
