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2000 SESSION

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SB 537 Estimated tax payments; estates and trusts.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Estimated tax payments; estates and trusts. Changes the manner for annualizing income of trusts and estates for purposes of determining whether such trusts or estates have underpaid estimated taxes for the taxable year and are subject to penalties and interest. For purposes of annualizing income in determining if there is an underpayment of estimated taxes, this bill would, for trusts and estates, annualize taxable income through the month which is two months before the month in which an estimated tax payment is required. This bill is effective for taxable years beginning on and after January 1, 2001.


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