Estimated Tax Worksheet - Record Of Estimated Tax Payments printable pdf download

1. P

1. Purpose of Declaration V

urpose of Declaration V

urpose of Declaration Vouchers:

ouchers:

ouchers: The Declaration vouchers on the next page are for paying

profits from a business, profession or other activity to the extent that it is from work done, services

1. P

urpose of Declaration V

ouchers:

currently any income tax due in excess of the tax withheld. Therefore, declarations are required

rendered or activity conducted in Battle Creek, capital gains less capital losses from sale of real or

only from individuals whose wages or other income exceed the amounts specified in No. 2 below.

tangible personal property located in Battle Creek.

In general, the definitions of income, deductions, exemptions, etc., are the same as those on form

BC 1040.

5. How to File:

5. How to File: Your annual return for the preceding year may be used as the basis for computing

your declaration of estimated tax for the current year. You may use the same figures used for

2. Who must File a Declaration of Estimated T

2. Who must File a Declaration of Estimated Tax: ax: ax: ax: ax: Individuals and unincorporated businesses.

estimating your Federal Income Tax adjusted to exclude any income or deductions not taxable

2. Who must File a Declaration of Estimated T

Every resident or nonresident who expects taxable income from which the city income tax will not

or permissible under the Battle Creek Income Tax ordinance.

be withheld. A Declaration is not required if the estimated tax on Line 6 of the Worksheet is ONE

HUNDRED DOLLARS ($100) or less. A husband and wife may file a joint Declaration.

6. Withholding T

6. Withholding Tax Cr

ax Cr

ax Credits and Other Cr

edits and Other Cr

edits and Other Credits (Line 5):

edits (Line 5):

Corporations - Every corporation subject to the tax on all or part of its net profit. A Declara-

(A)

Withholding Tax Credit - You may subtract from your estimated Battle Creek Income tax

tion is not required from corporations if the estimated tax on Line 6 of the Worksheet is Two

(Line 4) the amount of Battle Creek income tax expected to be withheld. Overpayment from

Hundred Fifty Dollars ($250) or less.

the previous year’s City of Battle Creek Income Tax final return.

Partnerships - A partnership whose partners are subject to the tax on all or part of their

(B)

Income Tax paid by a Partnership - If you are a member of a partnership which elects to file

distributive share of net profits may file a Declaration of Estimated Income Tax and the partners

a return and pay the tax on behalf of its partners, you may subtract from your estimate of

will not be required to file as individuals unless they have other income which would cause the

Battle Creek Income Tax, the amount of tax expected to be paid by the partnership for your

expected Battle Creek income tax to exceed ONE HUNDRED DOLLARS ($100). The names, ad-

distributive share of net profits.

dresses and social security numbers of the partners on whose behalf the Declaration is filed shall

be shown on the reverse side of such Declaration.

(C)

Income Tax Paid to Another Michigan Municipality - If you are a resident of the City of

Battle Creek and pay income tax to another Michigan city on income earned outside the

3. When and Wher

3. When and Where to File Declaration and P

e to File Declaration and P

e to File Declaration and Pay T

e to File Declaration and P

ay T

ay Tax: ax: ax: ax: ax:

ay T

City of Battle Creek, you may subtract from your estimate of Battle Creek income tax the

amount of income expected to be paid to another city. The credit may not exceed the

(A)

Calendar Year - The Declaration for the year must be filed on or before April 30 present

amount of taxes assessed which would be under the Battle Creek Income Tax Ordinance

year.

on the same income.

(B)

Fiscal Year - The Declaration for a fiscal period must be filed within the four (4) months

7. Amended Declaration:

7. Amended Declaration: If after you have filed a Declaration you find that your estimated tax is

after the beginning of the fiscal period.

substantially increased or decreased as a result of a change in your income or exemptions, you

may amend your estimate at the time of making any quarterly payment. Use the form provided or

(C)

Filing - The Declaration must be filed with the Income Tax Division, PO. Box 1657, Battle

you may obtain forms or information from he Income Tax Division, City Hall, Room 114 Battle

Creek, Michigan 49016-1657.

Creek, Michigan or by calling (616) 966-3345.

(D)

Payment - The estimated tax may be paid in full with the Declaration or in four (4) equal

8. P

8. Penalties and Inter

enalties and Inter

enalties and Interest:

est:

est: If the total amount of tax withheld or paid by Declaration is less than

installments on or before April 30, June 30, September 30, and January 31. Each instal-

Seventy Percent (70%) of the final tax due, interest and penalties will be assessed.

ment must accompany one of the vouchers provided.

9. 9. 9. 9. 9. A worksheet is provided along with your payment record. Please retain this portion for your

4. Income Subject to Battle Cr

4. Income Subject to Battle Creek Income T

eek Income T

eek Income Tax enter on (Line 1):

ax enter on (Line 1):

records.

Residents - All salaries, wages, bonuses, commissions and other compensation, net profits

IF THIS IS A PREPRINTED FORM AND ANY OF THE INFORMATION IS INCORRECT PLEASE P

IF THIS IS A PREPRINTED FORM AND ANY OF THE INFORMATION IS INCORRECT PLEASE PUT UT UT UT UT

from business or profession, net rental income, capital gains less capital losses, dividends,

ONE LINE THROUGH THE INCORRECT DATA AND PRINT THE CORRECTION CLEARL

ONE LINE THROUGH THE INCORRECT DATA AND PRINT THE CORRECTION CLEARLY IF THIS

Y IF THIS

interest, income from estates and trusts and other income.

IS NOT A PREPRINTED FORM WHEN PREPARING THE BC1040ES VOUCHERS, SOCIAL SECU-

RITY NUMBERS, NAMES AND ADDRESSES MUST COINCIDE WITH THE BC1040 TAXPAYER

Nonresidents - Salaries, wages, bonuses, commissions or other compensation for service

IDENTIFICATION INFORMATION.

rendered or work performed in Battle Creek net rental income from property in Battle Creek, net

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

1. Taxable Income Expected in __________________ ....................................................................................... $

(tax year)

2. Exemptions ($1500 For Each Exemption) ........................................................................................................ $

3. Estimated Battle Creek Taxable Income (Line 1 less line 2) ........................................................................... $

Non-resident individuals enter 1/2% of line 3,

4. Estimated Battle Creek Income Tax ................................................................................................................ $

all other taxpayers enter 1% of line 3.

5. (a) Amount of Battle Creek Income Tax Withheld .................................................. $

(b) Overpayment From Previous Year .................................................................... $

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

6. Estimated Tax: (Line 4 less line 5 (*) ............................................................................................................... $

7. Amount to be paid, enter here and in Item (2) on Declaration - Voucher (#1) ................................................ $

(*)

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

RECORD OF ESTIMATED TAX PAYMENTS

VOUCHER No.

DATE

AMOUNT PAID THIS QUARTER

TOTAL PAID TO DATE

TOTAL