Section 1460. Declarations of estimated tax

(a)  Requirements  of
  declaration.--Every taxpayer subject to the tax  imposed  by  subsection
  (a)  of  section  fourteen hundred fifty-one shall make a declaration of
  its  estimated  tax  for  the  current  taxable  year,  containing  such
  information as the commissioner of taxation and finance may prescribe by
  regulations  or  instructions,  if  such estimated tax can reasonably be
  expected to exceed one thousand dollars. If a taxpayer is subject to the
  tax surcharge imposed by section fourteen hundred fifty-five-B and  such
  taxpayer's  estimated  tax  under  subsection  (a)  of  section fourteen
  hundred fifty-one can reasonably be  expected  to  exceed  one  thousand
  dollars,  such  taxpayer  shall also make a declaration of its estimated
  tax surcharge for the current taxable year.
    (b) Definition of estimated  tax  and  estimated  tax  surcharge.--The
  terms  "estimated  tax"  and  "estimated tax surcharge" mean the amounts
  which a taxpayer estimates to be the tax or  tax  surcharge  imposed  by
  subsection (a) of section fourteen hundred fifty-one or fourteen hundred
  fifty-five-B,  respectively,  for  the  current  taxable  year, less the
  amount which it estimates to be the sum of any credits allowable against
  the tax or tax surcharge, respectively.
    (c) Time for filing declaration.--A declaration of estimated tax and a
  declaration of estimated tax surcharge shall be filed on or before  June
  fifteenth  of  the  current taxable year in the case of a taxpayer which
  reports on the basis of a calendar year, except that if the requirements
  of subsection (a) of this section are first met:
    (1) after May thirty-first and before September first of such  current
  taxable  year,  the  declaration  shall  be filed on or before September
  fifteenth, or
    (2) after August  thirty-first  and  before  December  first  of  such
  current  taxable  year,  the  declaration  shall  be  filed on or before
  December fifteenth.
    (d) Amendments of declaration.--A taxpayer  may  amend  a  declaration
  under regulations of the tax commission.
    (e) Return as declaration.--If, on or before February fifteenth of the
  succeeding  year  in  the  case  of  a  taxpayer whose taxable year is a
  calendar year, a taxpayer files its return for the year  for  which  the
  declaration  is required, and pays therewith the balance, if any, of the
  full amount of the tax or tax surcharge shown to be due on the return:
    (1)  such  return  shall  be  considered  as  its  declaration  if  no
  declaration  was  required to be filed during the taxable year for which
  the tax or tax surcharge was imposed, but is otherwise  required  to  be
  filed  on  or  before  December  fifteenth  pursuant to paragraph two of
  subsection (c) of this section, and
    (2) such return shall be considered  as  the  amendment  permitted  by
  subsection  (d)  of  this  section  to  be  filed  on or before December
  fifteenth if the tax or tax surcharge shown on  the  return  is  greater
  than  the  estimated tax or estimated tax surcharge, as the case may be,
  shown on a declaration previously made.
    (f) Fiscal year.--This section shall apply to taxable years of  twelve
  months  other than a calendar year by the substitutions of the months of
  such fiscal year for the corresponding months specified in this section.
    (g) Short taxable period.--If the taxable period for which  a  tax  or
  tax  surcharge  is imposed by subsection (a) of section fourteen hundred
  fifty-one or section fourteen  hundred  fifty-five-B,  respectively,  is
  less  than  twelve months, every taxpayer required to make a declaration
  of estimated tax or a declaration of estimated tax  surcharge  for  such
  taxable  period  shall  make  such  a  declaration  in  accordance  with
  regulations of the commissioner of taxation and finance.

    (h) Extension of time.--The tax  commission  may  grant  a  reasonable
  extension  of  time,  not  to exceed three months, for the filing of any
  declaration required  pursuant  to  this  section,  on  such  terms  and
  conditions as it may require.