Sec. 22-3.8. Short taxable years

Tax Law, § 1461(g)

In the case of a short taxable year of a taxpayer for which a declaration of estimated tax is required to be made and filed, the estimated tax should be paid in equal installments (after deducting the amount, if any, paid with the return for the preceding taxable year), one at the time of filing the declaration, one on the 15th day of the ninth month of the taxable year (unless the short taxable year closed prior to such ninth month, in which case the installment will be eliminated) and one on the 15th day of the last month of the current taxable year.

Example:

In the case of a short taxable year of 10 months, from January 1, 1981 to October 31, 1981, the declaration is required to be made and filed on or before June 15, 1981. The estimated tax is payable in three equal installments, one on the date of filing the declaration and one each on September 15 and October 15, 1981. If the declaration is required to be filed after June 15, 1981 but on or before September 15, 1981, the estimated tax is payable in two equal installments, one on the date of filing the declaration and one on October 15, 1981.