This information is not current and is being provided for reference purposes only
TSSN-14A
Corporation Business Tax Notice
This is obsoleted by AN 94(1)
We have enclosed a revised 1990 Form 208S along with your Form 208ESA for 1991. Form 208S, Schedule I, Lines 24 and 25 have been corrected. Please destroy the Form 208S previously mailed to you.
Effective for income years beginning on or after January 1, 1991, PA 90-148 increases the percent of the second installment of Estimated Corporation Business Tax from 60% to 70% of the estimated current year tax.
If the estimated tax for the entire year exceeds $1,000, four estimated returns and tax payments are required as follows:
| 15th day of 3rd month | 30% of the total tax for 1991 or 60% of total tax for 1990 after subtracting the 1st $1,000.
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| 15th day of 6th month | (NEW) Together with prior payments 70% of the total tax for the year after subtracting the 1st $1,000. |
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| 15th day of 9th month | Together with prior payments 80% of the total tax for the year after subtracting the 1st $1,000. |
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| 15th day of 12th month | Together with prior payments 100% of the total tax for the year after subtracting the 1st $1,000. |
A declaration of estimated tax is required for the current year if last years tax exceeded $1,000, even if the current year's estimated tax is $1,000 or less.
If an underpayment of estimated tax is more than 10% of the amount required to be paid, a penalty of 10% of the underpayment or $50, whichever is greater, will be imposed and interest at the rate of 1 2/3% per month will be charged.
TSSN-14A
Rev. 1/91