§ 36. Payments of estimated tax.-- (a) General.-- The estimated tax
with respect to which a declaration is required shall be paid as
follows:

(1) If the declaration is filed on or before April fifteenth of the
taxable year, the estimated tax shall be paid in four equal
installments. The first installment shall be paid at the time of the
filing of the declaration, and the second, third and fourth installments
shall be paid on the following June fifteenth, September fifteenth, and
January fifteenth, respectively.

(2) If the declaration is filed after April fifteenth and not after
June fifteenth of the taxable year, and is not required to be filed on
or before April fifteenth of the taxable year, the estimated tax shall
be paid in three equal installments. The first installment shall be
paid at the time of the filing of the declaration, and the second and
third installments shall be paid on the following September fifteenth
and January fifteenth, respectively.

(3) If the declaration is filed after June fifteenth and not after
September fifteenth of the taxable year, and is not required to be filed
on or before June fifteenth of the taxable year, the estimated tax shall
be paid in two equal installments. The first installment shall be paid
at the time of the filing of the declaration, and the second shall be
paid on the following January fifteenth.

(4) If the declaration is filed after September fifteenth of the
taxable year, and is not required to be filed on or before September
fifteenth of the taxable year, the estimated tax shall be paid in full
at the time of the filing of the declaration.

(5) If the declaration is filed after the time prescribed therefor, or
after the expiration of any extension of time therefor, paragraphs two,
three and four of this subdivision shall not apply, and there shall be
paid at the time of such filing all installments of estimated tax
payable at or before such time, and the remaining installments shall be
paid at the times at which, and in the amounts in which, they would have
been payable if the declaration had been filed when due.

(b) Farmers.--If an individual referred to in subdivision (e) of
section thirty-five (relating to income from farming) makes a
declaration of estimated tax after September fifteenth of the taxable
year and on or before the following January fifteenth, the estimated tax
shall be paid in full at the time of the filing of the declaration.

(c) Amendments of declaration.--If any amendment of a declaration is
filed, the remaining installments, if any, shall be ratably increased or
decreased (as the case may be) to reflect any increase or decrease in
the estimated tax by reason of such amendment, and if any amendment is
made after September fifteenth of the taxable year, any increase in the
estimated tax by reason thereof shall be paid at the time of making such
amendment.

(d) Application to short taxable year.--This section shall apply to a
taxable year of less than twelve months in accordance with regulations
of the administrator.

(e) Fiscal year.--This section shall apply to a taxable year other
than a calendar year by the substitution of the months of such fiscal
year for the corresponding months specified in this section.

(f) Installments paid in advance.--An individual may elect to pay any
installment of his estimated tax prior to the date prescribed for its
payment.

(g) Cross reference.--For taxpayers with taxable years beginning prior
to the date this local law becomes operative, see section forty-one.