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Indiana Code Title 6. Taxation § 6-3-4-4.1

Current as of January 02, 2024 | Updated by Findlaw Staff

<Text of section effective Jan. 1, 2026.  See, also, version of IC 6-3-4-4.1 effective until Jan. 1, 2026.>

Sec. 4.1. (a) Any individual required by the Internal Revenue Code or this section to file estimated tax returns and to make payments on account of such estimated tax shall file estimated tax returns and make payments of the tax imposed by this article to the department at the time or times and in the installments as provided by Section 6654 of the Internal Revenue Code.  However, the following apply to estimated tax returns filed and payments made under this subsection:

(1) In applying Section 6654 of the Internal Revenue Code for the purposes of this article, “estimated tax” means the amount which the individual estimates as the sum of the amount of the adjusted gross income tax imposed by this article for the taxable year and the sum of the amount of local income tax under IC 6-3.6, including any amounts of credits required to be recaptured under IC 6-3-3 and IC 6-3.1, minus the amount which the individual estimates as the sum of any credits against the tax provided by IC 6-3-3, IC 6-3.1, and IC 6-3.6, other than the amounts of tax withheld under this chapter.

(2) Estimated tax for a nonresident alien (as defined in Section 7701 of the Internal Revenue Code) must be computed by applying not more than one (1) exclusion under IC 6-3-1-3.5(a)(3) and IC 6-3-1-3.5(a)(4), regardless of the total number of exclusions that IC 6-3-1-3.5(a)(3) and IC 6-3-1-3.5(a)(4) permit the taxpayer to apply on the taxpayer's final return for the taxable year.

(3) If an individual does not file a return for the preceding taxable year and the individual can establish that the individual did not have a liability under IC 6-3 and IC 6-3.6, Section 6654 of the Internal Revenue Code shall be applied as if the tax liability for the preceding taxable year under IC 6-3 and IC 6-3.6 was zero dollars ($0).

(b) Every individual who has adjusted gross income subject to the tax imposed by this article and from which tax is not withheld under the requirements of this chapter or for which tax is not remitted on behalf of the individual under IC 6-3-2.1 shall make a declaration of estimated tax for the taxable year.  However, no such declaration shall be required if the estimated tax can reasonably be expected to be less than one thousand dollars ($1,000).  In the case of an underpayment of the estimated tax as provided in Section 6654 of the Internal Revenue Code, there shall be added to the tax a penalty in an amount prescribed by IC 6-8.1-10-2.1(b).

(c) An individual filing an estimated tax return and making an estimated tax payment under this section must designate:

(1) the portion of the estimated tax payment that represents estimated state adjusted gross income tax liability;  and

(2) the portion of the estimated tax payment that represents estimated local income tax liability under IC 6-3.6.

The department shall adopt guidelines and issue instructions as necessary to assist individuals in making the designations required by this subsection.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-3-4-4.1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-3-4-4-1/

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