The first MBT estimate is based on the number of months in the fiscal year quarter that fall within 2008. The quarterly estimate should be based on the actual business income tax base, modified gross receipts tax base and surcharge of the single month and should not be computed using any period from the last SBT tax year. Estimates cannot be based on the prior year's SBT tax liability.

A taxpayer must file its estimated SBT quarterly returns by the due date. If the taxpayer fails to make the estimated payment to cover the estimated SBT tax liability, the taxpayer is subject to penalty. The fact that the taxpayer's payment on the final return covers the taxpayer's liability does not negate a penalty liability for failure to make the estimated SBT quarterly payment required. The existing requirements governing payment of SBT liability continue to apply and will be enforced.

MBT Estimated and Annual Return Due Dates