Section 6-3-2.1-6 - Exception; estimated tax payments; penalty for underpayment(a) Except as otherwise provided in this section, an electing entity shall be subject to the obligation to make estimated tax payments under this article for the tax imposed under section 4 of this chapter in the same manner as applicable to corporations under IC 6-3-4-4.1(c).(b) For taxable years ending on or before June 30, 2023, an electing entity is not required to make estimated tax payments.(c) For taxable years ending after June 30, 2023, and on or before December 31, 2024, an electing entity shall make an estimated tax payment for the taxable years on or before the end of the taxable year. There shall be no penalty for underpayment of estimated tax, except to the extent the underpayment fails to equal or exceed fifty percent (50%) of the tax imposed by section 4 of this chapter for the taxable year.(d) For taxable years ending after December 31, 2024, there shall be no penalty for underpayment of estimated tax, except to the extent the payments during the taxable year fail to equal or exceed the lesser of eighty percent (80%) of the tax imposed under this chapter for the taxable year or one hundred percent (100%) of the tax imposed under this chapter for the preceding taxable year.(e) In the event of an underpayment under subsection (c) or (d), the electing entity shall be subject to a penalty in the amount prescribed under IC 6-8.1-10-2.1(b) on the amount of the underpayment.Added by P.L. 1-2023,SEC. 5, eff. 2/22/2023, app. retroactive to 1/1/2022.