Tax 2.89 Tax 2.89 Estimated tax requirements for short taxable years.

Tax 2.89(1) (1) General. Under ss. 71.09 and 71.29, Stats., certain corporations and persons other than corporations shall make estimated tax payments. For short taxable years, estimated tax payments shall be made in accordance with this section.

Tax 2.89 Note Note: For taxable years beginning on or after January 1, 1994, and ending before April 1, 1999, estimated tax includes the temporary recycling surcharge under s. 77.93, Stats.

Tax 2.89(2) (2) Definitions. In this section:

Tax 2.89(2)(a) (a) “Corporation” includes corporations, tax-option (S) corporations, insurance companies, publicly traded partnerships treated as corporations in section 7704 of the Internal Revenue Code, limited liability companies treated as corporations under the Internal Revenue Code, joint stock companies, associations, common law trusts, regulated investment companies, real estate investment trusts, real estate mortgage investment conduits, nuclear decommissioning trust funds and virtually exempt entities as defined in s. 71.29 (1) (c), Stats.

Tax 2.89(2)(b) (b) “Estimated tax payable” means the amount calculated under s. 71.09 (13) or 71.29 (9) or (10), Stats.

Tax 2.89(2)(c) (c) “Persons other than corporations” includes individuals, estates, trusts other than those treated as corporations in par. (a), partnerships except publicly traded partnerships treated as corporations in section 7704 of the Internal Revenue Code and limited liability companies treated as partnerships under the Internal Revenue Code.

Tax 2.89(2)(d) (d) “Short taxable year” means a period of less than 12 months.

Tax 2.89(3) (3) Number of installment payments required.

Tax 2.89(3)(a) (a) For short taxable years, the following number of estimated tax installment payments shall be made:

Tax 2.89(3)(a)1. 1. For periods of one month or less, none.

Tax 2.89(3)(a)2. 2. For periods of 2 to 3 months, one.

Tax 2.89(3)(a)3. 3. For periods of 4 to 6 months, 2.

Tax 2.89(3)(a)4. 4. For periods of 7 to 9 months, 3.

Tax 2.89(3)(a)5. 5. For periods of 10 to 11 months, 4.

Tax 2.89(3)(b) (b) Except as provided in par. (c), for purposes of determining the required number of estimated tax installment payments under par. (a), a portion of a month shall be treated as a full month.

Tax 2.89(3)(c) (c) If a short taxable year terminates before the end of a month and another taxable year begins at that time, for estimated tax installment purposes the first taxable period shall be treated as ending on the last day of that month and the second taxable period shall be treated as beginning on the first day of the following month.

Tax 2.89 Note Note: Refer to the examples of the estimated tax payment requirements for short taxable years involving a portion of a month that follow sub. (7) (b) 4.

Tax 2.89(4) (4) Due dates of installment payments for corporations. For short taxable years, corporations, or the designated agent as provided in s. Tax 2.65 (3) (a) 5., shall make estimated tax installment payments on or before the 15th day of each of the following months:

Tax 2.89(4)(a) (a) For periods of 2 to 3 months, the last month of the taxable year.

Tax 2.89(4)(b) (b) For periods of 4 to 6 months, the 4th and last months of the taxable year.

Tax 2.89(4)(c) (c) For periods of 7 to 9 months, the 4th, 6th and last months of the taxable year.

Tax 2.89(4)(d) (d) For periods of 10 to 11 months, the 4th, 6th, 9th and last months of the taxable year.

Tax 2.89(5) (5) Due dates of installment payments for persons other than corporations.

Tax 2.89(5)(a) (a) Except as provided in pars. (b) and (c), for short taxable years, persons other than corporations shall make estimated tax installment payments on or before the 15th day of each of the following months:

Tax 2.89(5)(a)1. 1. For periods of 2 to 3 months, the first month following the close of the taxable year.

Tax 2.89(5)(a)2. 2. For periods of 4 to 6 months, the 4th month of the taxable year and the first month following the close of the taxable year.

Tax 2.89(5)(a)3. 3. For periods of 7 to 9 months, the 4th and 6th months of the taxable year and the first month following the close of the taxable year.

Tax 2.89(5)(a)4. 4. For periods of 10 to 11 months, the 4th, 6th and 9th months of the taxable year and the first month following the close of the taxable year.