estimated tax

noun
es·​ti·​mat·​ed tax

Legal Definition of estimated tax

: a tax paid usually quarterly by certain entities (as corporations or trusts) or individuals on income that is not subject to withholding

Note: A declaration of estimated tax is not required for federal income taxes for tax years after 1984. Some states, however, require declarations to be filed.

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Cite this Entry

“Estimated tax.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/estimated%20tax. Accessed 27 Sep. 2020.

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