Treasury Regulations (26 C.F.R.)
26 CFR § 1.6016-1
Declarations of estimated income tax by corporations.
# (a) Requirement.
For taxable years ending on or after December 31, 1955, a declaration of estimated tax shall be made by every corporation (including unincorporated business enterprises electing to be taxed as domestic corporations under section 1361), which is subject to taxation under section 11 or 1201(a), or subchapter L, chapter 1 of the Code (relating to insurance companies), if its income tax under such sections or such subchapter L for the taxable year can reasonably be expected to exceed the sum of $100,000 plus the amount of any estimated credits allowable under section 32 (relating to tax withheld at source on nonresident aliens and foreign corporations and on tax-free covenant bonds), section 33 (relating to taxes of foreign countries and possessions of the United States), and section 38 (relating to investment in certain depreciable property).
# (b) Definition of estimated tax.
The term “estimated tax”, in the case of a corporation, means the excess of the amount which such corporation estimates as its income tax liability for the taxable year under section 11 or 1201(a), or subchapter L, chapter 1 of the Code, over the sum of $100,000 and any estimated credits under sections 32, 33, and 38. However, for the rule with respect to the limitation upon the $100,000 exemption for members of certain electing affiliated groups, see section 243(b)(3)(C)(v) and the regulations thereunder.
# (c) Examples.
The application of this section may be illustrated by the following examples:
Example 1.
M, a corporation subject to tax under section 11, reasonably anticipates that it will have taxable income of $224,000 for the calendar year 1964. The normal tax and surtax result in an expected liability of $105,000. M determines that it will not have any allowable credits under sections 32, 33, and 38 for 1964. Since M's expected tax ($105,000) exceeds the exemption ($100,000), a declaration of estimated tax is required to be filed, reporting an estimated tax of $5,000 ($105,000−$100,000) for the calendar year 1964.
Example 2.
Under the facts stated in example (1), except that M estimates it will have an allowable foreign tax credit under section 33 in the amount of $4,000 and an allowable investment credit under section 38 in the amount of $3,000, no declaration is required, since M's expected tax ($105,000) does not exceed the $100,000 plus the allowable credits totaling $7,000.
[T.D. 6768, 29 FR 14921, Nov. 4, 1964]
Source: view the official text
In this part (40 sections)
- 1.6012-5 · Composite return in lieu of specified form.
- 1.6012-6 · Returns by political organizations.
- 1.6013-1 · Joint returns.
- 1.6013-2 · Joint return after filing separate return.
- 1.6013-3 · Treatment of joint return after death of either spouse.
- 1.6013-4 · Applicable rules.
- 1.6013-6 · Election to treat nonresident alien individual as resident…
- 1.6013-7 · Joint return for year in which nonresident alien becomes…
- 1.6014-1 · Tax not computed by taxpayer for taxable years beginning…
- 1.6014-2 · Tax not computed by taxpayer for taxable years beginning…
- 1.6015-0 · Table of contents.
- 1.6015-1 · Relief from joint and several liability on a joint return.
- 1.6015-2 · Relief from liability applicable to all qualifying joint…
- 1.6015-3 · Allocation of deficiency for individuals who are no longer…
- 1.6015-4 · Equitable relief.
- 1.6015-5 · Time and manner for requesting relief.
- 1.6015-6 · Nonrequesting spouse's notice and opportunity to participate…
- 1.6015-7 · Tax Court review.
- 1.6015-8 · Applicable liabilities.
- 1.6015-9 · Effective date.
- 1.6016-1 · Declarations of estimated income tax by corporations.
- 1.6016-2 · Contents of declaration of estimated tax.
- 1.6016-3 · Amendment of declaration.
- 1.6016-4 · Short taxable year.
- 1.6017-1 · Self-employment tax returns.
- 1.6031(a)-1 · (a)-1 Return of partnership income.
- 1.6031(b)-1T · (b)-1T Statements to partners (temporary).
- 1.6031(b)-2T · (b)-2T REMIC reporting requirements (temporary).…
- 1.6031(c)-1T · (c)-1T Nominee reporting of partnership information…
- 1.6031(c)-2T · (c)-2T Nominee reporting of REMIC information…
- 1.6032-1 · Returns of banks with respect to common trust funds.
- 1.6033-1 · Returns by exempt organizations; taxable years beginning…
- 1.6033-2 · Returns by exempt organizations and returns by certain…
- 1.6033-3 · Additional provisions relating to private foundations.
- 1.6033-4 · Required filing in electronic form for returns by…
- 1.6033-5 · Disclosure by tax-exempt entities that are parties to…
- 1.6033-6 · Notification requirement for entities not required to file…
- 1.6034-1 · Information returns required of trusts described in section…
- 1.6035-0 · Table of contents.
- 1.6035-1 · Basis information to persons acquiring property from…