Montana Form Clt-4-Ut - Underpayment Of 2006 Estimated Tax By Corporation Page 2
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3Annualized Income and Adjusted Seasonal Installment Method Worksheet (15-31-510, MCA)
Please attach a completed copy of federal Form 2220
A
B
C
D
Part I
Calculate Annualized Income Installments
Period
First 3 months First 3 months First 6 months First 9 months
1. Enter your taxable income for each period (see
instructions). ............................................................ 1.
2. Annualization amounts. ........................................... 2.
4
4
2
1.33333
3. Multiply line 1 by line 2 and enter result. ................. 3.
Period
First 3 months First 5 months First 8 months First 11 months
4. Enter your taxable income for each period (see
instructions). ............................................................ 4.
5. Annualization amounts. ........................................... 5.
4
2.4
1.5
1.09091
6. Multiply line 4 by line 5 and enter result. ................. 6.
7. In columns A through D enter one of the following
three options (see instructions): (1) the amounts
in each column on line 3; (2) the amounts in each
column on line 6; (3) the lesser of the amounts in
each column, line 3 or 6. This is your annualized
taxable income. ....................................................... 7.
8. Multiply line 7 in each column by your current tax
rate and enter the result. .......................................... 8.
9. For each period, enter the amount of any tax
credits being claimed on Form CLT-4, page 3,
line 12 (see instructions). ......................................... 9.
10. Subtract line 9 from line 8. If less than zero, enter
zero. Otherwise enter the result. ........................... 10.
11. Applicable percentage. ........................................... 11.
20%
40%
60%
80%
12. Multiply line 10 by line 11 and enter the result. ...... 12.
Complete lines 13 through 41 for one column before completing the next column.
13. For each column enter the combined amounts of all previous
columns on line 41 (i.e. - Add columns A and B from line 41 and enter
result in column C on this line.) ....................................................... 13.
14. Subtract line 13 from line 12. If less than zero,
enter zero. Otherwise enter the result. If you are
using the seasonal method, go to line 15,
otherwise go to line 36. .......................................... 14.
Part II Calculate Adjusted Seasonal Installments. You can only use this method if the base period percentage for any
6 consecutive months of your tax year is at least 70%.
(See instructions for more information.)
Period
First 3 months First 5 months First 8 months First 11 months
15. Enter your taxable income for the following periods:
a. Third preceding taxable year ........................... 15a.
b. Second preceding taxable year ....................... 15b.
c. First preceding taxable year .............................15c.
16. Enter your taxable income for each period for
your current taxable year ....................................... 16.
Period
First 4 months First 6 months First 9 months
Entire year
17. Enter your taxable income for the following periods:
a. Third preceding taxable year .......................... 17a.
b. Second preceding taxable year ...................... 17b.
c. First preceding taxable year ............................ 17c.
18. Divide the amount in each column on line 15a by
the amount in column D on line 17a and enter
result. ..................................................................... 18.
19. Divide the amount in each column on line 15b by
the amount in column D on line 17band enter
result. ..................................................................... 19.
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