Form 1120N-ES 2012 Nebraska Corporation Estimated Income Tax Payment Vouchers

1 4th Month 1 Amended estimated tax (enter here and on line 1 of the payment voucher) 1 1 Estimated federal taxable income 1 1 Estimated tax (or amended estimated tax) Complete if this is an 1 Estimated tax (or amended estimated tax) Complete if this is an 1 Estimated tax for the 2012 tax year (line 9 of estimated 10 COMPUTATION OF INSTALLMENTS 15th day of the fourth month Enter 1/4 of the amount from line 9 here and on line 2 of the 15th day of the ninth month Enter 1/2 the amount from line 9 here and on line 2 of the remaining 15th day of the sixth month Enter 1/3 of the amount from line 9 here and on line 2 of the remaining 15th day of the twelfth month Enter the amount from line 9 here and on line 2 of the appropriate 2 6th Month 2 Amount of the 2011 overpayment previously applied as a credit to 2012 estimated tax installments 2 2 Amount of this installment (line 10 of estimated tax 2 Amount of this installment (line 10 of estimated tax worksheet 2 Amount of this installment (line 10 of estimated tax worksheet 2 Estimated Nebraska taxable income 2 3 9th Month 3 Amount of overpayment from last year (all or part) 3 Amount of overpayment from last year applied to this 3 Amount of overpayment from last year applied to this 3 Enter the amount from line 2 or $100 000 whichever is less 3 3 Total amount previously paid for 2012 estimated tax installments 3 4 12th Month 4 Amount of this payment (line 2 minus line 3) Enter here and 4 Amount of this payment (line 2 minus line 3) Enter here and 4 Line 2 minus line 3 4 4 Line 2 plus line 3 4 5 Tax on line 3 (line 3 multiplied by 5 58%) 5 5 Unpaid balance (line 1 minus line 4) 5 6 Amount to be paid (line 5 divided by number of remaining payments) 6 Tax on line 4 (line 4 multiplied by 7 81%) 6 7 Nebraska corporation estimated income tax (line 5 plus line 6) 7 8 Estimated credits 8 9 Nebraska corporation estimated income tax (line 7 minus line 8) 9 applied to this installment 3 At least $500 At least 10% of the corporation s expected income tax liability; and be required to make payments at a later date See instruction entitled Changes in Estimated Tax City State Zip Code City State Zip Code Elected to apply the overpayment to the 2012 estimated tax Enter here and on line 2 of the payment voucher 6 Had an overpayment on the 2011 Nebraska Corporation Income Tax Return Form 1120N; and If the original payment is due to be filed on: in your Record of Estimated Tax Payments 4 in your Record of Estimated Tax Payments 4 installment (and not applied to the previous installment) 3 installment (and not applied to the previous installment) 3 Legal Name Legal Name Name Doing Business As (dba) Nebraska ID Number Federal ID Number Taxable Year Ending Name Doing Business As (dba) Nebraska ID Number Federal ID Number Taxable Year Ending or line 6 of Amended Computation Schedule) 2 or line 6 of Amended Computation Schedule) 2 original or amended computation 1 original or amended computation 1 payment voucher 10 payment vouchers payment vouchers Street or Other Mailing Address Street or Other Mailing Address tax worksheet) 1 Use if the corporation s estimated tax changes during the year worksheet) 2 (Line 3 of (Line 4 of [Col (B) plus Col (C)] 1 Complete the 2012 Nebraska Corporation Estimated Income Tax Worksheet If line 9 is less than $400 estimated tax payments are not required 2 Complete the appropriate payment voucher The amount of any overpayment from last year may be applied in full or in part to any estimated payment installment if the corporation: 2011 Overpayment 5 58% 5 58% 7 81% 7 81% 8 013 2011 8 013 2011 8 013 2011 800 742 7474 (NE or IA) or 402 471 5729 ACH CREDIT The corporation or its financial institution must use computer software to create an electronic file in the appropriate ACH file format and submit it to the Federal Reserve This file instructs the corporation's bank to credit the State s bank See the Department s website for additional information AMENDED COMPUTATION SCHEDULE Amount Paid and Credited BEFORE THE 15TH DAY OF THE 12TH BEFORE THE 15TH DAY OF THE 4TH BEFORE THE 15TH DAY OF THE 6TH BEFORE THE 15TH DAY OF THE 9TH CALCULATING THE AMOUNT OF EACH INSTALLMENT CHANGES IN ESTIMATED TAX If the corporation s income increases during the year it may be required to begin filing or increase estimated tax payments at the next due date CHECK OR MONEY ORDER Include a check or money order payable to the Nebraska Department of Revenue with the payment voucher Checks written to the Department may be presented for payment electronically CLAIM THIS AMOUNT ON YOUR 2012 NEBRASKA Corporation Estimated CORPORATION INCOME TAX RETURN FORM 1120N CREDIT CARD Secure credit card payments can be initiated through Official Payments at www officialpayments com or via telephone at 800 2PAY TAX Eligible credit cards include American Express Discover MasterCard and VISA A convenience fee (2 49% of the tax payment $1 minimum) is charged to the card you use This fee is paid to the credit card vendor not the state and will appear on your credit card statement separately from the tax payment Date Filed Do not mail if you are paying electronically If you are paying by check or money order mail this voucher and payment to: Do not mail if you are paying electronically If you are paying by check or money order mail this voucher and payment to: E PAY (ACH DEBIT) E pay is the Department's electronic payment system To use e pay visit the Department s website You can schedule the estimated payments up to one year in advance of having the corporation s bank account debited This payment option is free to use and you will receive an email confirmation for each payment Each corporation with an underpayment of estimated tax must file a Form 2220N with its Nebraska Corporation Income Tax Return Form 1120N ELECTRONIC PAYMENT OPTIONS ELECTRONIC PAYMENT OPTIONS ARE AVAILABLE Excess of $100 000 Excess of $100 000 First $100 000 of First $100 000 of Form 1120N ES FORM 1120N ES FORM 1120N ES If you miss a payment of estimated tax or if you made a mistake which caused an underpayment in earlier installments make an immediate catchup payment with your next installment payment Included in this Booklet: Income Tax Payment Income Tax Worksheet Installment INSTRUCTIONS METHODS OF PAYMENT Some corporations are required to make their corporation payments by electronic funds transfer (EFT) A corporation with an EFT mandate from the Department must make all estimated tax payments using one of the electronic methods outlined below All corporations are encouraged to make their estimated tax payments electronically MONTH OF THE TAXABLE YEAR MONTH OF THE TAXABLE YEAR Nebraska Nebraska Corporation Estimated Nebraska Corporation Estimated Income Tax Nebraska Corporation Estimated Income Tax NEBRASKA CORPORATION INCOME TAX RATES FOR 2012 NEBRASKA CORPORATION INCOME TAX RATES FOR 2012 NEBRASKA DEPARTMENT OF REVENUE PO BOX 94818 LINCOLN NE 68509 4818 NEBRASKA DEPARTMENT OF REVENUE PO BOX 94818 LINCOLN NE 68509 4818 NOTE: If you are not required to make an estimated tax payment on the first installment date you may still Number OVERPAYMENT OF ESTIMATED TAX A corporation that has overpaid its estimated tax may apply for a reimbursement of the overpayment if the overpayment is both: Payment Payment Voucher Payment Voucher Payment Voucher) PENALTY FOR NOT PAYING ENOUGH ESTIMATED INCOME TAX A penalty is imposed for underpayment of estimated tax installments An underpayment exists when the estimated payments plus allowable credits are less than the tax liability The penalty is not due if the corporation qualifies for any of the methods that avoid penalty listed on the Corporation Underpayment of Estimated Tax Form 2220N Questions? Record of Estimated Tax Payments RETAIN A COPY FOR YOUR RECORDS DO NOT FILE See instructions Sign up for a FREE subscription service at the Department s website to get email updates on your topics of interest Taxable Income Taxable Income Taxable Income in Taxable Income in THIS INSTALLMENT IS DUE ON OR THIS INSTALLMENT IS DUE ON OR To apply for this reimbursement a corporation must file a Corporation Application for Adjustment of Overpayment of Estimated Tax Form 4466N on or before the 15th day of the third month after the end of its tax year and before it files its tax return TOTAL Total Amount Paid UNITARY BUSINESS Corporate taxpayers who are required to file a single Nebraska Corporation Income Tax Return Form 1120N for a unitary business may file combined estimated tax payments for the group A combined Nebraska ID number is used for the group and can be requested in writing from the Department The same combined ID number used to file estimated tax payments is assigned to the corporate taxpayer s Nebraska corporation income tax return Use the Amended Computation Schedule to calculate the amended estimated tax if the corporation's estimated tax substantially changes or if the corporation's income substantially increases Show the amended estimated tax on the next payment voucher Vouchers WHEN TO MAKE ESTIMATED TAX PAYMENTS Estimated tax installments are due by the 15th day of the 4th 6th 9th and 12th months of the tax year The estimated tax may be paid in full with the first installment or paid in equal installments on each due date WHO MUST MAKE ESTIMATED PAYMENTS Every corporation subject to taxation under the Internal Revenue Code must make estimated income tax payments if its Nebraska income tax liability can reasonably be expected to exceed allowable credits by $400 or more The allowable credits are the premium tax credit the Community Development Assistance Act credit the Beginning Farmer credit the biodiesel tax credit and various economic incentive program credits reported on Form 3800N For additional information on these credits visit the Nebraska Department of Revenue's (Department) website at www revenue ne gov Worksheet www revenue ne gov