ND SB2330

Raises the threshold for estimated tax payment requirements for individuals, estates, and trusts from $500 to $1,000 in net tax liability for the preceding taxable year.

Raises the threshold for estimated tax payment requirements for corporations from $500 to $5,000 in both estimated tax and preceding year net tax liability.

Eliminates interest penalties on estimated tax underpayments for individuals, estates, and trusts with less than $1,000 in estimated tax per income tax return filed.

Allows taxpayers to apply prior year tax overpayments as estimated tax payments for the succeeding taxable year, with option to designate specific installments.

Effective for taxable years beginning after December 31, 2012.