If you are self-employed, or for some reason you don't have enough taxes withheld from your income (salary, investments, etc.) to cover the amount of taxes you'll owe to the State of Arizona for the year, you need to pay estimated taxes. If you don't, and you wait until you file your tax return next year to pay your taxes, you could be subject to penalties imposed by the State of Arizona. Don't forget that you might also have to pay estimated taxes to the IRS for your federal tax liability.
How Much Should My Arizona Estimated Payments Total?
If you have to make estimated payments, your payments, when added to your Arizona withholding, must total either 90% of the tax due for 2012, or 100% of the tax due for 2011.You can use your 2011 tax to figure the amount of payments that you must make during 2012 only if you were required to file and did file a 2011 Arizona income tax return.
When Should I Make My Arizona Estimated Payments?
The State of Arizona says to make your payments in four equal installments. The due dates for these installments for a 2012 calendar year taxpayer are as follows:
Installment Due Date
First: April 17, 2012 (April 15 falls on a Sunday, and April 16 is a holiday in Washington D/C. The next business day after April 15, 2012 is April 17, 2012.)
Second: June 15, 2012
Third: September 17, 2012 (September 15 falls on a Saturday. The next business day after September 15, 2012 is September 17, 2012.)
Fourth: January 15, 2013
Where Do I Find the Arizona Form to Make an Estimated Tax Payment?
You can find tax forms, and the instructions, at the Arizona Department of Revenue web site. Estimated tax payments fore the State of Arizona should be mailed to:
Arizona Department of Revenue
PO Box 29085
Phoenix, AZ 85038-9085
