Utah § 59-7-504 - Estimated tax payments -- Penalty -- Waiver.

Full text of Utah Utah Code § 59-7-504 — Estimated tax payments -- Penalty -- Waiver., with citation guidance and answers to common questions.

§ 59-7-504. Estimated tax payments -- Penalty -- Waiver.

Effective 5/5/2021
59-7-504. Estimated tax payments -- Penalty -- Waiver.

(1)

Except as provided in Subsection (2), a corporation subject to taxation under this chapter that has a tax liability of $3,000 or more in either the current tax year or the previous tax year shall make a payment of an estimated tax on or before the day on which the corporation is required to make a payment of an estimated tax for the same time period to the federal government.

(2)

The provisions of Section 6655, Internal Revenue Code, shall govern the payment described in Subsection (1), except that:

(a)

for the first year a corporation is required to file a return in Utah, that corporation is not subject to Subsection (1) if the corporation makes a payment on or before the due date of the return, without extensions, equal to or greater than the minimum tax required under Section 59-7-104 or 59-7-201;

(b)

the applicable percentage of the required annual payment, as defined in Section 6655, Internal Revenue Code, for annualized income installments, adjusted seasonal installments, and those estimated tax payments based on the current year tax liability shall be:


		Installment	Percentage
		1st	22.5
		2nd	45.0
		3rd	67.5
		4th	90.0

(c)	a large corporation shall be treated as any other corporation for purposes of this section;

(d)	if a taxpayer elects a different annualization period than the one used for federal purposes, the taxpayer shall make an election with the commission at the same time as provided under Section 6655, Internal Revenue Code; and

(e)	the due date shall be superseded by the due date for federal estimated payments if modified by other federal action.

(3)	A penalty shall be added as provided in Section 59-1-401 for any quarterly estimated tax payment that is not made in accordance with this section.

(4)	There shall be no interest added to any estimated tax payments subject to a penalty under this section.

Amended by Chapter 367, 2021 General Session

Source: official Utah text · Last verified 2026-08-27

Frequently Asked Questions About Utah § 59-7-504

What does Utah Code § 59-7-504 cover?

Section 59-7-504 ("Estimated tax payments -- Penalty -- Waiver.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 59-7-504?

A common citation format is "Utah Code § 59-7-504" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 59-7-504 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Official text of § 59-7-504 at the Utah source

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.