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Does Kentucky require estimated tax payments?

Regardless of whether they are a Kentucky resident for any part of the year, taxpayers who are required to file a Kentucky tax return and expect to owe more than $500 (after taking into consideration any taxes already withheld and allowable credits) must make estimated tax payments.

Who must file quarterly tax returns?

As a self-employed individual, generally you are required to file an annual income tax return and pay estimated taxes quarterly. Self-employed individuals generally must pay self-employment (SE) tax as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves.

How do I know if I have to pay quarterly taxes?

Who must pay estimated tax. Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.

What is the schedule for quarterly taxes?

When to pay estimated tax Payment periodDue date Jan. 1March 31 April 15 April 1May 31 June 15 June 1Aug. 31 Sept. 15 Sept. 1Dec. 31 Jan. 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax2 more rows

kentucky quarterly tax payments

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