Montana Form Clt-4-Ut - Underpayment Of 2008 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 the 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 the 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 36 through 41 for one column before completing lines 13 and 14 of 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 the
result. .....................................................................18.
19. Divide the amount in each column on line 15b by the
amount in column D on line 17b and enter the
result. .....................................................................19.
Page 2
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