Page:United States Statutes at Large Volume 78.djvu/69

 78 STAT. ]

PUBLIC LAW 88-272-FEB. 26, 1964

27

" (4) PAYMENT IX i INSTALLMENT.—If the declaration of estimated tax is filed after the 15th day of the 9th month of the taxable year, and is not required by section 6074(a) to be filed on or before the 15th day of such 9th month, the estimated tax shall be paid in 1 installment. The amomit and time for payment of the installment shall be determined in accordance with the following table: "If the taxable year begins In—

The following percentages of the estimated tax shall be paid on the 16th day of the 12th month 52 58 68 78 88 94 100

1964_ 1965 1966 1967._ -. 1968 1969 1970 or any subsequent year

"(5) LATE FILING.—If the declaration is filed after the time prescribed in section 6074(a) (determined without regard to any extension of time for filing the declaration under section 6081), paragraphs (2), (3), and (4) of this subsection shall not apply, and theias shall be paid at the time of such filing all installments of estimated tax which would have been payable on or before such time if the declaration had been filed within the time prescribed in section 6074(a), and the remaining installments shall be paid at the times at which, and in the amounts in which, they would ha^'e been payable if the declaration had been so filed. "(b)

AMENDMENT OF DFXL'LARATION.—If

^e usc*6?74.

any

amendment

of

a

declaration is filed, the amount of each remaining installment (if any) shall be the amount which would have been payable if the new estimate had been made when the first estimate for the taxable year was made, increased or de(.*reased (as the case may be), by the amount computed by dividing— "(1) the difference between (A) the amount of estimated tax required to be paid before the date on which the amendment is made, and (B) the amount of estimated tax which would have been required to be paid before such date if the new estimate had been made when the first estimate was made, by "(2) the number of installments remaining to be paid on or after the date on which the amendment is made. " (c) Ari'Tj(v\TioN TO SHORT TAXABLE YEAR.—The application of this sectix)n to taxable years of less than 12 months shall be in accordance with regulations prescribed by the Secretary or his delegate. " (d) INSTALLMENTS PAID IX AOVAXCE.—At the election of

the

corporation, any installment of the estimated tax may be paid before the date prescribed for its payment." (b) T I M E FOR F I L I N G DE(*I>ARATIOXS OF ESTIMATED IXCO^IE TAX BY

Cinn'OKATiox-s.-Secf ion 6074 (relating to time for filing declarations of e.**timaied iiK-ome tax by corporations) is amended to read as follows:

68A Stat. 751. 26 USC 6081.

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