Form Cnf-120u - Underpayment Of Estimated Tax

WV/CNF-120U

UNDERPAYMENT OF ESTIMATED TAX

2007

WV Code 11-10-18a

COMPLETE LINES 14 THROUGH 20 FOR ONE COLUMN BEFORE GOING TO THE NEXT COLUMN

Column B

Column A

Column C

Column D

14 Add the amounts in all previous columns of Line 20........................

15 Subtract Line 14 from Line 13. If zero or less, enter -0-..................

16 Enter 1/4 of Line 12 of Part I in each column..................................

17 Enter the amount from Line 19 of the previous column of this

worksheet......................................................................................

18 Add Lines 16 and 17......................................................................

19 Subtact Line 15 from Line 18. If zero or less, enter -0-..................

20 Required Installment. Enter the smaller of Line 15 or Line 18........

Column B

SECTION 2. ANNUALIZED FRANCHISE INSTALLMENT

Column A

Column C

Column D

3 months

6 months

9 months

21 Enter the West Virginia taxable capital for each Period

(Multistate taxpayers use apportioned figures)...............................

1.3333

22 Annualization Amounts..................................................................

23 Multiply Line 21 by Line 22.............................................................

3 months

5 months

8 months

11 months

24 Enter the West Virginia taxable capital for each Period

(Multistate taxpayers use apportioned figures)..............................

25 Annualization Amounts.................................................................

2.4

1.5

1.09091

26 Multiply Line 24 by Line 25...........................................................

27 Annualized Taxable Capital. In Column A, enter the amount from

Line 26, Column A. In Columns B, C, and D, enter the smaller of the

amounts in each column from Line 23 or Line 26............................

28 Tax Rate.........................................................................................

0.0055

29 Annualized Tax. Multiply Line 27 by Line 28..................................

30 Tax Credits. Enter the credits found on Line 4 of Form CNF-120 in

each column...................................................................................

31 Subtract Line 30 from Line 29. If zero or less, enter -0-..................

32 Applicable Percentage...................................................................

0.225

0.45

0.675

0.9

33 Multiply Line 31 by Line 32..............................................................

COMPLETE LINES 34 THROUGH 40 FOR ONE COLUMN BEFORE GOING TO THE NEXT COLUMN

34 Add the amounts in all previous columns of Line 40........................

35 Subtract Line 34 from Line 33. If zero or less, enter -0-.................

36 Enter 1/4 of Line 6 of Part I in each column...................................

37 Enter the amount from Line 39 of the previous column of this

worksheet.....................................................................................

38 Add Lines 36 and 37....................................................................

39 Subtract Line 35 from Line 38. If zero or less, enter -0-................

40 Required Installment. Enter the smaller of Line 35 or Line 38....

SECTION 3. COMBINED INCOME/FRANCHISE ANNUALIZED INSTALLMENT

41 Combined Annualized Income/Franchise Installment. Add

Line 20 and Line 40. Enter on Part III, Line 2................................

*B30090710A*

PAGE 30

REV 9-07

Form Cnf-120u - Underpayment Of Estimated Tax - 2007 Page 2

Related Articles

Related forms

Related Categories