Increased estimated tax payment reminders: California and Illinois

States are altering estimated tax payment requirements in order to accelerate revenue and attempt to balance their budgets. For example, in 2009, California enacted budget legislation accelerating corporate and individual estimated tax payments, beginning in January 2010. Like other states undertaking such actions, California did not place a sunset on this estimated tax payment acceleration, as doing so would "give back" money from the state's current fiscal year.

Return to Tax research and insights
State and Local Tax