Form Mi-1041es - Estimated Tax Computation Worksheet (Page 2 of 2) in pdf

Form Mi-1041es - Estimated Tax Computation Worksheet Page 2

Worksheet Instructions

You will need the 2006 Michigan and U.S. fiduciary

income tax returns for the estate or trust for reference

(even if you haven’t completed them yet).

Estimate the estate's or trust's 2007 income. Michigan

uses federal taxable income of the fiduciary to figure

tax. See form MI-1041 for allowable additions and

subtractions. Enter the estimated taxable income on

line 1.

Once you have completed lines 1 and 2, finish the

worksheet by following the instructions on each line. If

you have questions, refer to the corresponding sections

in the tax instruction booklets.

If you need assistance in calculating your estimated

payments, call Taxpayer Assistance toll-free at 1-800-

827-4000.

Persons who have hearing or speech

impairments may call 517-636-4999 (TTY).

ESTIMATED TAX COMPUTATION WORKSHEET

Keep for Your Records

1. Estimated 2007 income subject to tax (from U.S. 1041) ....................................................................

1. _________________

2. Estimated tax. Multiply line 1 by 4.01% (.0401) * ............................................................................

2. _________________

3. All estimated credits (refundable and nonrefundable) .......................................................................

3. _________________

4. Estimated tax due. Subtract line 3 from line 2 ...................................................................................

4. _________________

5. Estimated payments already made in previous three quarters ...........................................................

5. _________________

6. Estimated payment due. Subtract line 5 from line 4. Enter here and on the 4th quarter voucher .....

6. _________________

* Effective October 1, 2007, the Michigan income tax rate was increased from 3.9% to 4.35%. The annualized tax rate for 2007 is

4.01%.

Visit Treasury’s Web site at

Form Mi-1041es - Estimated Tax Computation Worksheet Page 2