Instructions For Form 100-Es Corporation Estimated Tax

Line 12 – Total payment

equals or exceeds 70%. Get the instructions for

Line 34 – Total payments

Enter the total payments of estimated tax for

federal Form 1120-W, Part I, Adjusted Seasonal

Enter the total payments of estimated tax for

the taxable year paid prior to the due date of the

Installment Method, for an explanation on how to

the taxable year paid prior to the due date of the

installment. Include any overpayments from 2016 tax

compute the base period percentage.

installment. Include any overpayments from 2016 tax

that were credited to 2017 estimated tax.

Line 32 – Other taxes

Worksheet III — Exception C – Annualized

R&TC Section 19023 defines tax, for purposes

Revised Estimates

Seasonal Income

of California estimate payments, to include

This exception applies if the estimated tax paid on

alternative minimum tax, S corporation taxes from

Corporations may revise the estimated tax any time

or before the installment due date equals or exceeds

Schedule D (100S), excess net passive income,

during the taxable year. If the corporation revises

100% of the amount the corporation would owe

the QSub annual tax, credit recapture, and the

the estimated tax, compute the amount of each

if its estimated tax was computed on annualized

minimum franchise tax. Enter applicable amounts

remaining installment (if any) by doing the following:

seasonal net income for tax purposes for the months

for each payment period. Note: Last in first out

• Subtracting from the revised estimated tax, the

preceding the installment due date. Use Exception C

(LIFO) recapture amounts are not included in the

total estimated tax previously paid.

only if the corporation’s base period percentage

computation of an estimated tax underpayment

• Dividing the result by the number of installments

for any six consecutive months of the taxable year

penalty.

remaining as of the date the revision is made.

Computation of Estimated Tax

Worksheet I Exception A — Prior Year’s Tax

1 Taxable income expected during this taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 __________________

2 R&TC Section 23802(e) deduction, S corporations only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 __________________

3 Net income. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 __________________

4 Tax. Multiply line 3 by the current tax rate. See General Information C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 __________________

5 Tax credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 __________________

6 Subtract line 5 from line 4. (Not less than minimum tax and QSub annual tax(es), if applicable.) . . . . . . . . . . . . . . . . . . . . . . . . . 6 __________________

7 Other taxes. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 __________________

8 Total tax. Add line 6 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 __________________

9 Enter the tax shown on the corporation’s 2016 tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 __________________

10 Enter the smaller of line 8 or line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 __________________

(1) 30%

(2) 70%

(3) 70%

(4) 100%

(not less than min.)

11 Multiply line 10 by the percentage shown in column 1 through

column 4. Large corporations, see instructions . . . . . . . . . . . . . . . . . .

12 Total payment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . . . . . . . .

Large corporations: To meet the exception by paying prior year’s tax for the first estimate installment and paying the reduction in the first estimate installment

with the second estimate installment, the corporation must have paid the amounts in line 11, column (1) and column (2).

Worksheet II Exception B — Annualized Current Year Income

(1)

(2)

(3)

(4)

1 Annualization periods. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Enter taxable income for each annualization period . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Annualization amounts. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 a Annualized taxable income. Multiply line 2 by line 3. . . . . . . . . . . . . . . . . . . . . . . .

b R&TC Section 23802(e) deduction, S corporations only . . . . . . . . . . . . . . . . . . . .

c Net income. Subtract line 4b from line 4a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Tax. Multiply line 4c by the current tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Tax credits for each payment period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Subtract line 6 from line 5. (Not less than minimum tax and QSub annual tax(es)) . .

8 Other taxes. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Total tax. Add line 7 and line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30%

70%

100%

10 Applicable percentage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 Multiply line 9 by line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Total payments. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Annualized current year income installments. Subtract line 12 from line 11.

If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet III Exception C — Annualized Seasonal Income

(1)

(2)

(3)

(4)

Use this method only if the base period percentage for any six consecutive months

First 3 months

First 5 months

First 8 months

First 11 months

is at least 70%. See instructions.

14 Enter the taxable income for the following periods:

a Taxable year beginning in 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

b Taxable year beginning in 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c Taxable year beginning in 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Enter taxable income for each period for the taxable year beginning in 2017. . . . . . .

Form 100-ES Instructions 2016 Page 3

Instructions For Form 100-Es Corporation Estimated Tax - 2017 Page 3

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