Form It-540es - Worksheet For Estimating Your 2000 Louisiana Income Tax

IT-540ES(I) 2000

2000

State of Louisiana

Department of Revenue

Declaration of Estimated Tax for Individuals

General Information

The Louisiana Income Tax Law requires that the tax be paid currently

that time, your expected income or exemptions may change so that

with respect to anticipated income on which no tax is withheld at source.

you will become liable for filing a declaration later. In such cases,

Rents, royalties, dividends, interest, business profits, and professional

the time for filing is as follows: June 15, if the change occurs after

fees are examples of income that must be included in computing your

April 1 and before June 2; September 15, if the change occurs after

declaration of estimated tax. Form IT-540 ES is provided for making

June 1 and before September 2; January 15, 2001, if the change

your declaration and computing the tax on such estimated income.

occurs after September 1. The estimated tax may be paid in equal

installments on the remaining payment dates.

You should be able to make a proper determination of your liability for

filing a declaration, and acquaint yourself with related payment and

If you report income on a fiscal year basis, there should be substi-

filing schedules, by reference to the following digest of declaration of

tuted for the months specified, the fourth, sixth, or ninth month of

estimated Louisiana Income Tax requirements.

the current year, or the first month of the succeeding taxable year.

1. Who must make a declaration – A RESIDENT must make a decla-

If by January 31, 2001 or March 1, 2001, in the case of farmers, you

ration of estimated income tax if the resident’s estimated Louisiana

file your 2000 income tax return and pay in full the balance of tax

income tax after Schedule A credits, education credit, and taxes

due, then on or before January 15, 2001*, you need not:

withheld can reasonably be expected to exceed $200.00 ($400.00

a. file any required amended declaration, nor an original declara-

in the case of a joint declaration of husband and wife).

tion that would be due for the first time on January 15, 2001, nor

A NONRESIDENT subject to the Louisiana income tax must make

b. pay the last installment of estimated tax on or before January 15,

a declaration of estimated income tax if the estimated Louisiana

2001.

income tax after credit for taxes withheld can reasonably be ex-

NOTE: The January 15, 2001, filing of a declaration, amended

pected to exceed $200.00 ($400.00 in the case of joint declaration

declaration, the payment of the last installment, or the filing of an

of husband and wife).

income tax return by January 31, 2001, will not relieve you of the

2. When and where to file a declaration – Your declaration must be

additional charge if you failed to pay the estimated income tax

filed on or before April 15, 2000, or on such later dates as are speci-

that was due earlier in your tax year.

fied in instructions 5, 6, and 7 of this general information. It should

8. Amended declaration – If additional estimated tax is due above

be mailed to the Department of Revenue, P. O. Box 91007, Baton

the amount of prior payments and credits, subsequent payments

Rouge, Louisiana 70821-9007, or to any regional office of the De-

are to be computed in the following manner: The total amount of

partment.

prior payments and credits are subtracted from the new estimate

3. Payment of estimated tax – You may pay estimated tax in full with

and the balance is divided by the remaining quarters in the taxable

the declaration, or in equal installments, on or before April 15, 2000,

year.

June 15, 2000, September 15, 2000, and January 15, 2001. Pay-

9. Additional charge for failure to pay estimated income tax – The

ment of the amount entered on the declaration must be made when

following additional charge is imposed by law for underpayment of

the declaration is filed. Make payments to: Department of Revenue. Do

any installment of estimated tax: 12 percent per year for the period

not send cash.

of underpayment on the difference between the installment payment

NOTE: Reminder notices for estimated tax installments will not be

made and 90 percent (66

percent in the case of farmers) of the

sent to you. Please use the enclosed Form IT-540ES vouchers to

installment due on the basis of the tax for the year. The charge with

forward your payments when due.

respect to any underpayment of any installment may be made un-

4. Joint declaration – A husband and wife should file a joint declara-

less the total amount of all payments of estimated tax made on or

tion with the following exceptions: No joint declaration may be made

before the last dates prescribed for the payments of such install-

if the husband and wife are separated under a decree of divorce or

ments equals or exceeds whichever of the following is lesser:

of separate maintenance; or if they have different taxable years. If a

a. The amount that would have been required to be paid on or be-

joint declaration is made, a joint return should be filed for the tax-

fore such date if the estimated tax were whichever of the follow-

able year. However, if returns are filed separately, the estimated tax

ing is least –

for such year may be treated as the estimated tax of either the hus-

1. The tax shown on your return for the previous year (if your

band or the wife, or may be divided between them in such a manner

return for such year showed a liability for tax and covered a

as they may agree.

tax year of 12 months), or

5. Farmers – If at least two-thirds of your gross income is from farm-

2. A tax computed by using the previous year’s income with the

ing, you may file the declaration on or before January 15, 2001,

current year’s rates and exemptions, or

instead of April 15, 2000. If you wait until January 15, 2001, you

must then pay the entire amount of the estimated tax. However, if

3. Ninety percent (66

percent in the case of farmers) of tax com-

you file your final tax return on or before March 1, 2001, and pay the

puted by projecting to the end of the year the income received

total tax at that time, you need not file a declaration for 2000.

from the beginning of the year up to the beginning of the month

of the installment payment.

6. Fiscal year – If you file your income tax return on a fiscal year ba-

sis, the dates for filing the declaration and paying estimated tax will

b. An amount equal to 90 percent of the tax computed at the rates

be the 15th day of the fourth, sixth, and ninth months of your fiscal

applicable to the tax year, on the basis of the actual taxable in-

year, and the 15th day of the first month following the close of your

come for the months in the tax year ending before the month in

fiscal year.

which the installments are required to be paid.

7. Changes in income or exemption – Even though your situation

on April 15 is such that you are not required to file a declaration at

* In the event that the date on which returns shall be filed falls on Saturday, Sunday,

or a legal holiday, the return shall be made and filed on the next business day.

Page 4

Louisiana Department of Revenue

1999 Requirements for Vouchers

Form It-540es - Worksheet For Estimating Your 2000 Louisiana Income Tax - 2000

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