DECREASED REQUIRED ESTIMATED TAX PAYMENTS IN 2009 FOR CERTAIN SMALL BUSINESSES.

SEC. 1212. DECREASED REQUIRED ESTIMATED TAX PAYMENTS IN 2009 FOR CERTAIN SMALL BUSINESSES. Paragraph (1) of section 6654(d) is amended by adding at the end the following new subparagraph:“(D) Special rule for 2009.—“(i) In general.—Notwithstanding subparagraph (C), in the case of any taxable year beginning in 2009, clause (ii) of subparagraph (B) shall be applied to any qualified individual by substituting ‘90 percent’ for ‘100 percent’.“(ii) Qualified individual.—For purposes of this subparagraph, the term ‘qualified individual’ means any individual if—“(I) the adjusted gross income shown on the return of such individual for the preceding taxable year is less than $500,000, and“(II) such individual certifies that more than 50 percent of the gross income shown on the return of such individual for the preceding taxable year was income from a small business.123 STAT. 337 A certification under subclause (II) shall be in such form and manner and filed at such time as the Secretary may by regulations prescribe.“(iii) Income from a small business.—For purposes of clause (ii), income from a small business means, with respect to any individual, income from a trade or business the average number of employees of which was less than 500 employees for the calendar year ending with or within the preceding taxable year of the individual.“(iv) Separate returns.—In the case of a married individual (within the meaning of section 7703) who files a separate return for the taxable year for which the amount of the installment is being determined, clause (ii)(I) shall be applied by substituting ‘$250,000’ for ‘$500,000’.“(v) Estates and trusts.—In the case of an estate or trust, adjusted gross income shall be determined as provided in section 67(e).”.