(a) The estimated tax as shown on the declaration filed with the Director of the Department of Finance and Administration shall be paid as follows:
(1) If the estimated tax is not more than one thousand dollars ($1,000), payment may be made at the time the declaration is filed or at the time the return for the income year is filed;
(2) If the estimated tax is in excess of one thousand dollars ($1,000), it may be paid in full at the time of filing the declaration of estimated tax, or, at the election of the taxpayer, it may be paid in four (4) equal installments to be due as follows:
(A) The first installment is due at the time prescribed for filing the declaration;
(B) The second installment is due on or before the fifteenth day of the sixth month of the income year;
(C) The third installment is due on or before the fifteenth day of the ninth month of the income year; and
(D) For:
(i) Individual income tax, the fourth installment is due on or before the fifteenth day of the first month after the close of the income year; or
(ii) Corporation income tax, the fourth installment is due on or before the fifteenth day of the last month of the income year;
(3) In the case of a taxpayer who files an amendment to the declaration, the quarterly tax payments coming due after the amendment shall be adjusted either up or down to conform to the amended declaration of estimated tax; and
(4)
(A) In the case of a taxpayer who first meets the requirements and files a declaration subsequent to the fifteenth day of the fourth month of the income year and not later than the fifteenth day of the ninth month of the income year, if the estimated tax is in excess of one thousand dollars ($1,000), the taxpayer may pay the estimated tax in equal installments with the first installment being due at the time of filing the declaration and an installment being due on each subsequent regular quarterly tax payment date for the income year as prescribed in subdivision (a)(2) of this section.
(B) If the declaration is filed subsequent to the fifteenth day of the ninth month of the income year and on or before the fifteenth day of the first month after the close of the income year, the estimated tax shall be paid in full at the time of filing the declaration.
(b) Any tax payment due under the provisions of this subchapter may be paid by the taxpayer in advance of the date prescribed in the section for the payment of the tax.
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