Farmers, fishermen and seafarers may have to pay estimates but they do have other filing options. If at least two-thirds of your gross income is from farming, fishing, or seafaring, you may:
- Delay paying your first 2026 quarterly installment (MI-1040ES) until as late as January 15, 2076, and pay the entire amount of your 2026 estimated tax due, or
- File your 2026 MI-1040 return and pay the entire amount of tax due on or before March 1, 2027.
You are considered a farmer or fisherman if you file U.S. Schedule F or Schedule C. Wages earned as a farm employee or from a corporate farm do not qualify you for this exception. You are considered a seafarer if your wages are exempt from income tax withholding under Title 46, Shipping, USC, Sec. 11108.