Estimated Tax Worksheet - City Of Springfield (Page 2 of 2) in pdf

CITY OF SPRINGFIELD 2001 INCOME TAX RATES

There are two city income tax rates for individuals:

1. One percent (1%) of your adjusted gross income.*

2. Half of one percent (1/2%) of your adjusted gross income.*

Use the 1% rate for Springfield RESIDENTS. Please note: If you are a

Springfield resident subject to a city income tax in another Michigan city,

you may take a credit for the amount of your tax liability paid to the other

city, see 5c below. (For credit limitations refer to your City of Springfield

income tax booklet, page 4, line 9c.)

Use the 1/2% rate for NONRESIDENTS of Springfield working in Springfield.

Corporations pay 1% of NET INCOME.

Your ADJUSTED GROSS INCOME is calculated by subtracting from your

GROSS INCOME allowed exemptions, deductions and nontaxable income.

ESTIMATED TAX WORKSHEET (Keep For Your Records - Do Not File)

1. Gross Taxable Income Expected in 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

$ ____________

2. Exemptions (number of exemptions claimed ______ x $1500.00) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.

$ ____________

3. Adjusted Gross Income (Line 1 less line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3.

$ ____________

4. Estimated Income Tax . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . 4.

$ ____________

Multiply line 3 by correct tax rate obtained from above.

5. (a) Amount of Springfield Income Tax Expected to be Withheld. . . . . . . . . . . . . . . . . . . 5a. $____________

(b) Overpayment from Previous Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5b. $ ____________

(d) Total (Add lines 5 (a), (b), and (c), and Enter Here) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5d. $ ____________

6. Annual estimated Tax; (Line 4 less line 5d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. $ ____________

Note: If line 6 is $100.00 or less (Individuals or Unincorporated business) or $250.00 or less (Corporations), this declaration is not required.

7. Amount to be paid quarterly. (Divide the amount on line 6 by the number 4.). . . . . . . . . . . . . . . . . . . . . 7. $ ____________

RECORD OF ESTIMATED TAX PAYMENTS

VOUCHER No.

DATE

AMOUNT PAID THIS QUARTER

TOTAL PAID TO DATE

TOTAL

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