2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 17 - Internal Revenue Code of 2011 (§§ 30001 — 33423) › PART II - Income Taxes (§§ 30041 — 30622) › Chapter 1008 - Tax Returns and Payment (§§ 30241 — 30303) › Subchapter A - Income Tax Returns (§§ 30241 — 30264) › § 30263 - Estimated tax payment by corporations

(a) Requirement to pay the estimated tax.— Every corporation engaged in a trade or business in Puerto Rico, and subject to taxation under the provisions of this part, shall pay an estimated tax for the taxable year on the date provided in subsection (c), including the alternative minimum tax.
(b) Computation of the estimated tax and information required by the Secretary.— The computation of the estimated tax established under subsection (a) of this section shall be made by using an approximate calculation of the gross income that may be reasonably expected to be received or accrued by the corporation, as the case may be, depending on the method of accounting used to determine the net income, and an approximate calculation of the deductions and credits available under this Code or special laws, including the non-refunded tax paid in excess that corresponds to the previous taxable year. When making the payments of estimated tax the taxpayer shall include with such payment any other information for purposes of complying with the provisions of this part that the Secretary may prescribe through regulations or any public determination issued to such effect.
(c) Due date of the estimated tax payments.—
(1) General rule.— The due date for the first installment of the estimated tax required under subsection (a) shall be the fifteenth (15th) day of the fourth (4th) month of the taxable year, except as provided in clasue (2) of this subsection. In this case, the estimated tax shall be paid in four equal installments. The second installment shall be paid on the fifteenth (15th) day of the sixth (6th) month of the taxable year. The third installment shall be paid on the fifteenth (15th) day of the ninth (9th) month of the taxable year. The fourth installment shall be paid on the fifteenth (15th) day of the twelfth (12th) month of the taxable year. Provided, That the first year in which the special tax on gross income takes effect, such payments shall be made on the remaining installments.
(2) Exceptions.— If the requirements of subsection (a) are met for the first time:
(A) After the last day of the third (3rd) month and before the first day of the sixth month of the taxable year, the due date of the first installment shall be on the fifteenth day of the sixth month of the taxable year. In this case, the estimated tax shall be paid in three (3) equal installments. The second installment shall be paid on the fifteenth day of the ninth month of the taxable year, and the third installment shall be paid on the fifteenth day of the twelfth month of the taxable year; or
(B) after the last day of the fifth month and before the first day of the ninth month of the taxable year, the due date of the first installment shall be the fifteenth day of the ninth month of the taxable year. In this case, the estimated tax shall be paid in two (2) equal installments. The second installment shall be paid on the fifteenth day of the twelfth month of the taxable year, or
(C) after the last day of the eighth month and before the fifteenth day of the twelfth month of the taxable year, the due date for the first and only payment shall be on the fifteenth day of the twelfth month of the taxable year.
(3) Changes in the computation of the estimated tax.— If any change in the computation of the estimated tax should arise, the remaining installments, if any, shall be ratably increased or reduced, as the case may be, to show the increase or reduction, as the case may be, in the estimated tax due to such change in the estimate
(d) Payment of estimated tax.—
(1) Date for payment.— The amount of the estimated tax shall be paid as follows:
Period obligation begins Number of Payments to be deposited and paid Percent of estimated tax to be deposited on or before the fifteenth day of the: 4th Month 6th Month 9th Month 12th Month Before the first day of the fourth month of the taxable year 4 25 25 25 25 After the last day of the third month and before the first day of the sixth month of the taxable year 3 — 33½ 33½ 33½ After the last day of the fifth month and before the first day of the ninth month of the taxable year 2 — — 50 50 After the last day of the eighth month and before the fifteenth day of the twelfth month of the taxable year 1 — — — 100
(e) Application to taxable years of less than twelve months.— The application of this section to taxable years of less than twelve (12) months shall be as prescribed by the Secretary through regulations or any public determination issued to such effect.
(f) Installments paid in advance.— At the election of any corporation, any installment of the estimated tax may be paid prior to the date prescribed for its payment.
(g) Payment as part of tax for taxable year.— Payment of the estimated tax as provided by subsection (c) of this section, or any installment thereof, shall be treated as payment on account of the tax for the taxable year. Assessment in respect of the estimated tax shall be limited to the amount paid.
(h) Failure to pay the estimated tax by corporations.— For the penalty applicable to failure to pay the estimated tax by a corporation, see §§ 33001 et seq. of this title.
History —Jan. 31, 2011, No. 1, § 1061.23, retroactive to Jan. 1, 2011; June 30, 2013, No. 40, § 26.