W. Va. Code R. § 110-13A-9

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 110-13A-9 - Estimated Taxes

9.1. Tax of More Than $1,000 Per Month. -- For taxpayers whose estimated severance tax liability exceeds one thousand dollars per month, the tax shall be due and payable in monthly installments on or before the last day of the month following the month in which the tax accrued:

9.1.1. Estimated Tax. -- Each such taxpayer shall, on or before the last day of each month, make out an estimate of the tax for which the taxpayer is liable for the preceding month, sign the same and mail it together with a remittance, in the form prescribed by the Tax Commissioner, of the amount of tax due to the office of the Tax Commissioner.

9.1.2. Deductions From Estimated Tax. -- In estimating the tax due for each month, the taxpayer may deduct one twelfth of any applicable tax credits allowable for the taxable year, and one twelfth of any annual exemption allowed for such year.

9.2. Tax of Less Than $1,000 Per Month. -- For taxpayers whose estimated severance tax liability is one thousand dollars per month or less, the tax shall be due and payable in quarterly installments on or before the last day of the month following the quarter in which the tax accrued:

9.2.1. Estimated Tax. -- Each such taxpayer shall, on or before the last day of the fourth, seventh and tenth months of the taxable year, make out an estimate of the tax for which the taxpayer is liable for the preceding quarter, sign the same and mail it together with a remittance, in the form prescribed by the Tax Commissioner, of the amount of tax due to the office of the Tax Commissioner.

9.2.2. Deductions From Estimated Tax. -- In estimating the amount of tax due for each quarter, the taxpayer may deduct one fourth of any applicable tax credits allowable for the taxable year and one fourth of any annual exemption allowed for such year.

9.3. Exception. -- The Tax Commissioner, if he deems it necessary to insure payment of the tax, may require the return and payment under this Section for periods of shorter duration than those prescribed in Subsections 9.1 and 9.2 of these regulations.

W. Va. Code R. § 110-13A-9