(a) "Estimated tax" defined. For purposes of this Code section, the term "estimated tax" means the amount which the corporation estimates as the amount of income tax imposed by Code Section 48-7-21 less the amount which the corporation estimates as the sum of credits allowable by law against the tax.
(b) In general. Every domestic and foreign corporation subject to taxation under Code Section 48-7-21 shall pay estimated tax for the taxable year if its net income for the taxable year as defined in Code Section 48-7-31 can reasonably be expected to exceed $25,000.00.
Section: Previous 48-7-110 48-7-111 48-7-112 48-7-113 48-7-114 48-7-115 48-7-116 48-7-117 48-7-118 48-7-119 48-7-120 48-7-121 48-7-122 48-7-123 48-7-124 NextLast modified: October 14, 2016