Looking for a California Ftb Form 540-es Templates? Download it for free!

2016

IT-540ESi (2016)

Declaration of Estimated Tax for Individuals

General Information and Instructions

SPEC CODE – This space on the voucher is to be used only when

Changes in Income or Exemptions—Amended Declarations

specifically instructed by the Department of Revenue. Otherwise, leave

If the taxpayer’s expected income or exemptions changes so that

blank.

the taxpayer becomes liable for paying estimated income tax or the

estimated income tax amount changes, the estimated tax payments

This document explains the requirements for certain individuals to pay esti-

should be calculated or revised using the appropriate worksheet and

mated income tax on taxable income that is not subject to withholding, such

the payments adjusted as of the next estimated payment due date.

as income from self-employment, interest, dividends, rents, and alimony,

and other taxable income such as unemployment compensation that the

Exception to The January 15th Declaration Requirement

individual does not choose to make voluntary withholding. It also provides

R.S. 47:116(F) provides an exception from the estimated tax payment

a worksheet for estimating the amount of estimated income tax to be paid.

amendment requirement or original declaration requirement due

January 15th if the taxpayer files their individual income tax return by

Who Must Make Estimated Tax Payments

January 31 and pays the total amount due.

Louisiana Income Tax Law, R.S. 47:116, requires individuals to make

Note: Filing a declaration, amended declaration, or paying the last

estimated income tax payments if the individual’s estimated Louisiana

installment by January 15

, or filing an income tax return by January

income tax after credits and taxes withheld can reasonably be expected

, will not relieve you of the underpayment penalty if you failed to pay

to exceed $1,000 for a single filer or $2,000 for joint filers.

the estimated income tax that was due earlier in the year.

Married couples should file a joint declaration of estimated income tax

unless they file separately using different tax years. If a couple files a

How to Pay Estimated Tax

joint declaration but files their income tax separately, the estimated tax

paid may be treated as the estimated tax of the husband or the wife,

Pay by Check or Money Order using the Estimated Tax Payment

or may be divided between them in any manner.

Voucher

Estimated tax payments can be paid by check or money order to

the Department of Revenue mailed with the Louisiana Estimated

Special Rules for Farmers And Fishermen

Tax Declaration Voucher, Form IT-540ES. The payment must be

Individuals who earn at least two-thirds of their gross income from

postmarked on or before the payment’s due date. The payment and

farming or fishing are allowed to file only one estimated tax payment of

voucher should be mailed to the Department of Revenue, P.O. Box

the full amount due on or before January 15, of the succeeding taxable

91007, Baton Rouge, Louisiana 70821-9007.

year. In addition, if the farmer or fisherman files their income tax return

on or before March 1, of the succeeding year and pays the total tax due,

payment of estimated tax is not required.

Pay Electronically

Paying electronically ensures timely receipt of payments. When you

pay electronically, there is no check to write and no voucher to mail.

How to Calculate Your Estimated Tax

Payments can be made 24 hours a day, 7 days a week and proof of

Use the Worksheet on page 2 for calculating your estimated income tax

payment will be confirmed electronically.

based on your next year’s estimated adjusted gross income less your

estimated federal income tax to determine your Louisiana estimated tax

Electronic payments can be made using the following convenient, safe,

table income. Using the tax tables from the current year, determine your

and secure electronic payment options:

estimated Louisiana income tax less nonrefundable and refundable tax

•

Payment by electronic funds transfer using

credits and estimated income tax withheld.

louisiana.gov/fileonline

•

Payment by credit card using

Estimated Tax Payment Due Dates

The estimated individual income tax may be paid in full with the first

declaration or in equal installments as follows:

It is not necessary to file the estimated payment voucher, Form

IT-540ES, if the payment is made electronically.

payment ............................................ April 15

payment ........................................... June 15

When Is A Penalty Applied

payment ........................................... September 15

Revised Statute 47:118 provides for a 12 percent penalty for

underpayment of estimated income tax. The penalty may be imposed

payment............................................ January 15

if you did not pay enough estimated tax for the year or did not make

estimated payments on time or in the required amount. The penalty is

Note: If a due date for an estimated tax payment falls on a weekend or

imposed on each underpayment for the number of days it was unpaid.

legal holiday, the payment is due on the next business day.

For more information on calculating the underpayment penalty, see the

Fiscal year filers—the estimated tax payment due dates for taxpayers

instructions for the Underpayment of Individual Income Tax Penalty

who file on a fiscal basis are as follows:

Computation, Form R-210R-i on the Department’s website. If you owe

underpayment penalty, calculate the penalty amount using Form R-210R.

1st payment ........... 15th day of the 4

month of the fiscal year

Revised Statute 47:118(I) authorizes waiver of the underpayment

2nd payment .......... 15th day of the 6

month of the fiscal year,

penalty if an application for waiver of the penalty is submitted within

3rd payment ........... 15th day of the 9

month of the fiscal year

one year of tax return’s due date. To qualify for penalty waiver, the

4th payment ........... 15th day of the 1

month following the

taxpayer must demonstrate that they acted in good faith and that the

close of the fiscal year

failure to make the proper estimated payments was attributable to

extraordinary circumstances beyond the taxpayer’s control. To request

underpayment penalty waiver, use the Request for Waiver of Penalties

for Delinquency and/or Underpayment, Form R-20128.

You can pay your Louisiana Estimated Tax for

Individuals by Credit Card, over the Internet, or by

phone. Visit or call

1-800-2PAY-TAX (1-800-272-9829)

Form It-540esi - Declaration Of Estimated Tax For Individuals General Information And Instructions - 2016

Related Articles

Related forms

Related Categories