Virginia § 58.1-2523 - Payment of estimated tax
Full text of Virginia Code of Virginia § 58.1-2523 — Payment of estimated tax, with citation guidance and answers to common questions.
§ 58.1-2523. Payment of estimated tax
A. The amount of estimated tax with respect to which a declaration is required under § 58.1-2520 shall be paid in installments as follows:
1. If the declaration is required to be filed by April 15 of the taxable year, twenty-five percent of the estimated tax shall be paid on April, June, September and December 15 of said taxable year.
2. If the declaration is required to be filed by June 15 of the taxable year, one-third of the estimated tax shall be paid on June, September and December 15 of said taxable year.
3. If the declaration is required to be filed by September 15 of the taxable year, one-half of the estimated tax shall be paid on September and December 15 of said taxable year.
4. If the declaration is required to be filed by December 15 of the taxable year, 100 percent of the estimated tax shall be paid on the same date such declaration is filed.
B. If any amendment to a declaration is filed, the amount of any remaining installments shall be the amount which would have been payable if the new estimate had been made when the first estimate for the taxable year was made, increased or decreased, as the case may be, by the amount computed by dividing: (1) The difference between (a) the amount of estimated tax required to be paid before the date on which the amendment is made, and (b) the amount of estimated tax which would have been required to be paid before such date if the new estimate had been made when the first estimate was made, by (2) the number of installments remaining to be paid on or after the date on which the amendment is made.
C. At the election of the insurance company, any installment of the estimated tax may be paid before the date prescribed for its payment.
Code 1950, § 58-502.4; 1968, c. 13; 1972, c. 153; 1984, c. 675.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 58.1-2523
What does Code of Virginia § 58.1-2523 cover?
Section 58.1-2523 ("Payment of estimated tax") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 58.1-2523?
A common citation format is "Code of Virginia § 58.1-2523" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 58.1-2523 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.