Section 15 AAC 77.025 - Requirement to make estimated tax payments(b) A person who fails to make estimated tax payments in equal installments that total at least 90 percent of the person's tax liability for the year shall pay a penalty computed for each quarter for which a sufficient estimated tax was not paid. The estimated tax penalty is determined by applying the interest rate specified in AS 43.05.225 to the underpayment in each quarter, and runs from the installment payment due date through the payment date or the return due date under AS 43.77.020(a), whichever is earlier. (c) A person is not subject to the estimated tax penalty if the person was subject to tax under AS 43.77 in the previous year, and makes estimated tax payments in equal installments that equal or exceed the liability of the person for tax under AS 43.77 in the previous tax year. Eff. 4/20/94, Register 130; am 11/9/2006, Register 180; am 12/26/2014, Register 212, January 2015Authority:AS 43.77.020
AS 43.77.070