§116.  Declarations of estimated income tax by individuals

A.  Requirement of declaration. Every individual whose Louisiana income tax liability can reasonably be expected to exceed two hundred dollars for declarations of estimated tax for income tax years starting prior to January 1, 2001, and one thousand dollars for declarations of estimated tax for income tax years starting on and after January 1, 2001, after deducting all allowable credits shall be liable for filing of a declaration of estimated tax.

B.  Joint declaration by husband and wife.  In the case of a husband and wife, a single declaration under this Section may be made by them jointly, in which case the liability with respect to the estimated tax shall be joint and several.  No joint declaration may be made if the husband or the wife is separated under a decree of divorce or of separate maintenance, or if they have different taxable years.  If a joint declaration is made but a joint return is not filed for the taxable year, the estimated tax for such year may be treated as the estimated tax of either the husband or the wife, or may be divided between them.

C.  Estimated tax.  For purposes of this Chapter the term "estimated tax" means the amount which the individual estimates as the amount of the income tax imposed by this Chapter for the taxable year, minus the amount which the individual estimates as the sum of any credits allowable against¹ tax.

D.  Contents of declaration.  The declaration shall contain such pertinent information as the collector may require.

E.  Amendment of declaration.  An individual may make amendments of a declaration filed during the taxable year under regulations prescribed by the collector.

F.  Return as declaration or amendment.  If on or before January thirty-first, or March first, in the case of an individual referred to in R.S. 47:117(B), relating to income from farming, of the succeeding taxable year the taxpayer files a return for the taxable year for which the declaration is required and pays in full the amount computed on the return as payable, then, under regulations prescribed by the secretary such return shall be considered as the amendment of the declaration permitted by Subsection E to be filed on or before January fifteenth only if the declaration is not required to be filed during the taxable year, but is required to be filed on or before January fifteenth, such return shall be considered as such declaration; and if the tax shown on the return, reduced by the sum of any credits allowable against¹ tax is greater than the estimated tax shown in a declaration previously made, or in the last amendment thereof.

G.  Short taxable years.  An individual with a taxable year of less than 12 months shall make a declaration in accordance with regulations prescribed by the collector.

H.  Estates and trusts.  The provisions of this Section shall not apply to an estate or trust.

Added by Acts 1960, No. 342, §1.  Amended by Acts 1974, No. 189, §1; Acts 1975, No. 502, §1; Acts 2001, No. 203, §1, eff. May 31, 2001; Acts 2004, No. 900, §1, eff. Jan. 1, 2005.

¹As appears in enrolled bill.  Should be "against the tax".