Form 2220ME-Wkst Fillable Annualized income installment worksheet for form 2220ME

(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)$ 0 $ 25 000 3 5% of Maine net income $1 000 (1 09091 Row 1) (1 09091 Row 2) (1 09091 Row 3) (1 09091 Row 4) (1 09091 Row 5) (1 09091 Row 6) (1 09091 Row 7) (1 5 Row 1) (1 5 Row 2) (1 5 Row 3) (1 5 Row 4) (1 5 Row 5) (1 5 Row 6) (1 5 Row 7) (100% Row 1) (100% Row 2) (100% Row 3) (100% Row 4) (100% Row 5) (100% Row 6) (100% Row 8) (2 4 Row 1) (2 4 Row 2) (2 4 Row 3) (2 4 Row 4) (2 4 Row 5) (2 4 Row 6) (2 4 Row 7) (25% Row 1) (25% Row 3) (25% Row 4) (25% Row 6) (25% Row 7) (25% Row 8) (4 Row 1) (4 Row 1) (4 Row 1) (4 Row 2) (4 Row 3) (4 Row 4) (4 Row 5) (4 Row 6) (4 Row 7) (50% Row 1) (50% Row 2) (50% Row 3) (50% Row 4) (50% Row 5) (50% Row 6) (50% Row 7) (50% Row 8) (75% Row 1) (75% Row 2) (75% Row 3) (75% Row 4) (75% Row 5) (75% Row 6) (75% Row 7) (75% Row 8) (Note: Large corporations see instructions ) 15 10 Total tax after credits Subtract line 9 from line 8 If 1120ME line 8c Enter the total amount in each 2011 or 2012 reduced by allowable credits is less than 25 000 75 000 $875 plus 7 93% of the 25% 50% 75% 100% 250 000 or more $19 418 plus 8 93% of the 4 2 4 1 5 1 09091 4626 and Maine Form 1120ME Schedule B If the 75 000 250 000 $4 840 plus 8 33% of the A B C D actual liability can be established by adequate record for Add lines 15 and 16 17 Adjusted federal taxable income Enter adjusted Alternative minimum tax For the annualized amount on line 4 in each column using the tax table Annualization amounts 3 annualization amounts on line 3 are the same as annualization period (see instructions) 2 Annualization periods 1 Annualization periods These periods may or may ANNUALIZED INCOME INSTALLMENT WORKSHEET Annualized income installments Subtract line 13 Annualized taxable income Multiply line 2 by line 3 4 Applicable percentage 11 be able to lower or eliminate the amount of your quarterly before completing this worksheet below by IRC 6655(g)(2)(A) Such large corporations Calculate gross tax Calculate the gross tax on the Calculate the gross tax on the amount on line 4 in column conjunction with Form 2220ME Underpayment of Estimated CORPORATIONS AND FINANCIAL INSTITUTIONS Credits Enter the dollar amount of credits from do not complete this worksheet You are not required to each column (see instructions) 5 each required installment payment of estimated tax This Enter 25% of line 4 of Form 2220ME in each column Enter Adjusted Federal Taxable Income for each Enter alternative minimum tax for each payment Enter the amount applicable to the annualization estimated tax payment due dates in the tax year You may estimated tax payments by using the annualized income excess over $ 25 000 excess over $ 75 000 excess over $250 000 federal taxable income from Form 1120ME Line 5 First eight First eleven First five First three for any taxable year based on the preceding For columns A B and C if line 17 is more than line 14 For columns B C and D add the amount(s) from For columns B C and D enter the amount from For each period enter the credits included on FOR UNDERPAYMENT OF ESTIMATED TAX Form 2220ME line 1 9 Form 2220ME line 5 from line 12 If zero or less enter 0 14 GENERAL INSTRUCTIONS going on to the next column Greater But not half of the current year less the amount of the first If line 1 or line 3 of Form 2220ME is less than $1 000 If line 4 is: if the corporation so elects the second required income amounts on line 4 in each column calculate INFORMATION installment for the taxable year as determined under installment for the taxable year must equal 90% installment method Line 1 Line 15 Large corporations A large corporation is defined line 18 of the preceding column 16 line 19 of all of the preceding columns 13 Line 2 line 25 may be used Otherwise a separate AMTI Line 5 Line 7 Line 9 MAINE REVENUE SERVICES Maine tax Multiply line 5 by the Maine apportionment make four equal installments of estimated tax unless the may elect to determine the first required installment minimum tax on federal Form 2220 Schedule A months of tax months of tax MRSA 5228(5) Multiply line 10 by line 11 12 must be calculated not be the same as your federal periods See 36 of the corporation s income tax liability for the first or line 17 here and on Form 2220ME line 5 19 own a seasonal business or the majority of your income was pay estimated tax if your estimated tax liability for either percentage on Form 1120ME Schedule A line 15 6 period (see instructions) 7 period on line 1 PURPOSE OF WORKSHEET: Taxpayers are required to received at one time Required installments Enter the smaller of line 14 Rev 08/12 Schedule A line 22) the federal alternative minimum Significant income variation may occur if for example you SPECIFIC INSTRUCTIONS subtract line 14 from line 17; otherwise enter 0 18 Tax Enter the actual tax liability amounts from line 19 on taxable income ( AMTI ) used for calculating the than over The tax is: the alternative minimum tax using federal Form this provision those used for federal purposes (federal Form 2220 to determine the actual amount of tax liability for each of the Total tax Add lines 6 and 7 8 USE WITH FORM 2220ME: This worksheet is used in WHO MAY USE THIS WORKSHEET: You may use this worksheet if your income varied significantly during the year worksheet will enable corporations and fi nancial institutions year s state income tax liability if that preceding year was a taxable year of 12 months However You must complete Form 2220ME lines 1 through 4 You must complete lines 1 18 in each column before zero or less enter 0 10