General.
(i) General. If an individual is a farmer or fisherman (see subparagraph [ii] of this paragraph) for any taxable year:
(a)there will be only one required installment for the taxable year;#
(a) there will be only one required installment for the taxable year;
(b)the due date for such installment will be January 15th of the following taxable year;#
(b) the due date for such installment will be January 15th of the following taxable year;
(c)the amount of such installment will be the required annual payment determined as follows:#
(c) the amount of such installment will be the required annual payment determined as follows:
(1) 66 2 / 3 percent of the tax shown on the return for the taxable year (or, if no return is filed, 66 2 / 3 percent of the tax for such year); or
(2) 100 percent of the tax shown on the return of the individual for the preceding taxable year (provided such individual had filed a return for such year and such year was a taxable year of 12 months);
(c)(1)66 2 / 3 percent of the tax shown on the return for the taxable year (or, if no return is filed, 66 2 / 3 percent of the tax for such year); or#
(1) 66 2 / 3 percent of the tax shown on the return for the taxable year (or, if no return is filed, 66 2 / 3 percent of the tax for such year); or
(c)(2)100 percent of the tax shown on the return of the individual for the preceding taxable year (provided such individual had filed a return for such year and such year was a taxable year of 12 months);#
(2) 100 percent of the tax shown on the return of the individual for the preceding taxable year (provided such individual had filed a return for such year and such year was a taxable year of 12 months);
(d)the provisions of subdivision (c) of this section (Rule for returns filed on or before January 31st) will be applied by:#
(d) the provisions of subdivision (c) of this section (Rule for returns filed on or before January 31st) will be applied by:
(1) substituting March 1st for January 31st; and
(2) treating the required installment described in clause ( a ) of this subparagraph as the fourth required installment.
(d)(1)substituting March 1st for January 31st; and#
(1) substituting March 1st for January 31st; and
(d)(2)treating the required installment described in clause ( a ) of this subparagraph as the fourth required installment.#
(2) treating the required installment described in clause ( a ) of this subparagraph as the fourth required installment.