Vermont Statutes Title 32 Sec. 5858
Terms Used In Vermont Statutes Title 32 Sec. 5858
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Commissioner: means the Commissioner of Taxes appointed under section 3101 of this title or any officer or employee of the Department authorized by the Commissioner (directly or indirectly by one or more redelegations of authority) to perform the functions mentioned or described in this chapter. See
- Department: means the Vermont Department of Taxes. See
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
- Taxable year: means the calendar year, or the fiscal year ending during the calendar year, with respect to which a tax is imposed under this chapter and, in the case of a return filed with respect to a fractional part of a year, the period with respect to which the return is filed. See
- Taxpayer: means a person obligated to file a return with or pay or remit any amount to this State under this chapter. See
§ 5858. Payment dates
A taxpayer required to file a declaration of estimated tax shall pay such estimated tax as follows:
(1) If the declaration is required to be filed on or before the 15th day of the fourth month of the taxable year, the estimated tax shall be paid in four equal installments. The first installment shall be paid at the time of required filing of the declaration, and the second, third, and fourth installments shall be paid on or before the 15th day of the sixth, ninth, and 12th months of the taxable year, respectively.
(2) If the declaration is required to be filed on or before the 15th day of the sixth month of the taxable year, the estimated tax shall be paid in three equal installments. The first installment shall be paid at the time of required filing of the declaration, and the second and third installments shall be paid on or before the 15th day of the ninth and 12th months of the taxable year, respectively.
(3) If the declaration is required to be filed on or before the 15th day of the ninth month of the taxable year, the estimated tax shall be paid in two equal installments, at the time of required filing of the declaration for such taxable year and on or before the 15th day of the 12th month of such taxable year.
(4) If the declaration is required to be filed on or before the 15th day of the 12th month of the taxable year, the estimated tax shall be paid in full at the time of such required filing.
(5) If an amended declaration is filed, the remaining installments, if any, shall be ratably increased or decreased, as the case may be, to reflect the increase or decrease in the estimated tax occasioned by such amendment.
(6) The Commissioner may authorize payment by electronic funds transfer. The Commissioner may require payment by electronic funds transfer from any taxpayer who is required by federal tax law to pay any federal tax in that manner, or from any taxpayer who has submitted to the Department of Taxes two or more protested or otherwise uncollectible checks with regard to any State tax payment in the prior two years. (Added 1975, No. 1 (Sp. Sess.), § 15, eff. Jan. 1, 1976; amended 1997, No. 156 (Adj. Sess.), § 7, eff. April 29, 1998.)