(1) In the case where the tax computed under KRS § 67.750 to KRS § 67.790 is less than the amount which has been declared and paid as estimated tax for the same taxable year, a refund shall be made upon the filing of a return.
(2) (a) Overpayment resulting from the payment of estimated tax in excess of the amount determined to be due upon the filing of a return for the same taxable year may be credited against the amount of estimated tax determined to be due on any declaration filed for the next succeeding taxable year or for any deficiency or nonpayment of tax for any previous taxable year;
(b) No refund shall be made of any estimated tax paid unless a complete return is filed as required by KRS § 67.750 to KRS § 67.790.
(3) At the election of the business entity, any installment of the estimated tax may be paid prior to the date prescribed for its payment.
Effective: June 24, 2003
History: Created 2003 Ky. Acts ch. 117, sec. 4, effective June 24, 2003.