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IT-540ESi (2024) 2024
Declaration of Estimated Tax for Individuals
General Information and Instructions
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This document explains the requirements for certain individuals Exception to the January 15th Declaration Requirement
to pay estimated income tax on taxable income that is not subject R.S. 47:116(F) provides an exception from the estimated
to withholding, such as income from self-employment, interest, tax payment amendment requirement or original declaration
dividends, rents, and other taxable income such as unemployment requirement due January 15th if the taxpayer files their individual
compensation that the individual does not choose to make volun- income tax return by January 31 and pays the total amount due.
tary withholding. It also provides a worksheet for estimating the Note: Filing a declaration, amended declaration, or paying the
amount of estimated income tax to be paid. last installment by January 15th, or filing an income tax return by
January 31st, will not relieve you of the underpayment penalty if
Who Must Make Estimated Tax Payments you failed to pay the estimated income tax that was due earlier in
Louisiana income tax law, R.S. 47:116, requires individuals the year.
to make estimated income tax payments if the individual’s
estimated Louisiana income tax after credits and taxes withheld How to Pay Estimated Tax
can reasonably be expected to exceed $1,000 for a single filer or
$2,000 for joint filers. Pay by Check or Money Order using the Estimated Tax Payment
Voucher
Married couples should file a joint declaration of estimated income Estimated tax payments can be paid by check or money order
tax unless they file separately using different tax years. If a couple to the Department of Revenue, and mailed with Form IT-540ES,
files a joint declaration but files their income tax separately, the Louisiana Estimated Tax Declaration Voucher. The payment must
estimated tax paid may be treated as the estimated tax of either be postmarked on or before the payment’s due date. The payment
spouse or may be divided between them in any manner. and voucher should be mailed to the Department of Revenue, P.O.
Box 91007, Baton Rouge, Louisiana 70821-9007.
Special Rules for Farmers and Fishermen
Individuals who earn at least two-thirds of their gross income Pay Electronically
from farming or fishing are allowed to file only one estimated tax Paying electronically ensures timely receipt of payments. When
payment of the full amount due on or before January 15, of the you pay electronically, there is no check to write and no voucher to
succeeding taxable year. In addition, if the farmer or fisherman files mail. Payments can be made 24 hours a day, 7 days a week and
their income tax return on or before March 1, of the succeeding proof of payment will be confirmed electronically.
year and pays the total tax due, payment of estimated tax is not
required. Electronic payments can be made using the following convenient,
safe, and secure electronic payment options:
How to Calculate Your Estimated Tax • For online transfers directly from your checking or savings
Use the Worksheet on page 2 for calculating your estimated account at no cost to you, go to www.revenue.louisiana.gov/
income tax based on your next year’s estimated adjusted gross latap
income to determine your Louisiana estimated tax table income. • For payment by credit card, go to www.revenue.louisiana.gov.
Using the tax tables from the current year, to determine your
estimated Louisiana income tax less nonrefundable and refundable It is not necessary to file the estimated payment voucher, Form
tax credits and estimated income tax withheld. IT-540ES, if the payment is made electronically.
Estimated Tax Payment Due Dates When is a Penalty Applied
The estimated individual income tax may be paid in full with the Revised Statute 47:118 provides for a 12 percent penalty for
first declaration or in equal installments as follows: underpayment of estimated income tax. The penalty may be
1st payment ........................................... April 15, 2024 imposed if you did not pay enough estimated tax for the year or did
2nd payment ......................................... June 15, 2024 not make estimated payments on time or in the required amount.
The penalty is imposed on each underpayment for the number of
3rd payment .......................................... September 15, 2024 days it was unpaid.
4th payment .......................................... January 15, 2025 For more information on calculating the underpayment penalty, see
the instructions for Form R-210R-i, Underpayment of Individual
Note: If a due date for an estimated tax payment falls on a Income Tax Penalty Computation, on the Department’s website.
weekend or legal holiday, the payment is due on the next If you owe underpayment penalty, calculate the penalty amount
business day. using Form R-210R.
Fiscal year filers—the estimated tax payment due dates for Revised Statute 47:118(I) authorizes waiver of the underpayment
taxpayers who file on a fiscal basis are as follows: penalty if an application for waiver of the penalty is submitted within
1st payment ................15th day of the 4th month of the one year of tax return’s due date. To qualify for penalty waiver, the
fiscal year taxpayer must demonstrate that they acted in good faith and that
the failure to make the proper estimated payments was attributable
2nd payment ...............15th day of the 6th month of the to extraordinary circumstances beyond the taxpayer’s control.
fiscal year To request underpayment penalty waiver, use Form R-20128,
3rd payment ................15th day of the 9th month of the Request for Waiver of Penalties.
fiscal year
4th payment ................15th day of the 1st month following
the close of the fiscal year
Changes in Income or Exemptions — Amended Declarations
If the taxpayer’s expected income or exemptions changes so that
the taxpayer becomes liable for paying estimated income tax or
the estimated income tax amount changes, the estimated tax
payments should be calculated or revised using the appropriate
worksheet and the payments adjusted as of the next estimated
payment due date.
You can pay your Louisiana Estimated Tax for Individuals by Credit Card, over
the Internet, or by phone. Visit www.revenue.louisiana.gov for more information.
