HB 354 changed the due date for the first estimated tax payment for corporations and limited liability pass-through entities. Under the old rule, the first payment wasn’t due until June 15. That due date is now April 15. The subsequent due dates are June 15, September 15 and December 15.
The language in HB 354 states:
For taxable years beginning on or after January 1, 2019, every corporation and limited liability pass-through entity subject to taxation under Sections 40 and 41 of this Act shall make estimated tax payments if the taxes imposed by Sections 40 and 41 of this Act for the taxable year can reasonably be expected to exceed five thousand dollars ($5,000).
Estimated tax payments for the taxes imposed under Sections 40 and 41 of this Act shall be made at the same time and calculated in the same manner as estimated tax payments for federal income tax purposes under 26 U.S.C. sec. 6655.
Technical Advice Memorandum (TAM)
Click here for the Technical Advice Memorandum (TAM) regarding changes to Kentucky’s estimated income tax payment rules. Revised estimated tax form instruction links follow for your convenience.