Form 120es/w - Corporation Estimated Tax Payment 2001 Page 2
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32001
Estimated Tax Worksheet for Corporations
ARIZONA FORM
120W
(Taxpayers Filing Forms 99T, 120, 120A, and 120S)
1
00
1 Arizona tax liability - see instructions before completing this line ................................................................................................................
2 Required annual payment.
2a
00
a Enter 90 percent of line 1 .........................................................................................................................
2b
00
b Forms 99T, 120, and 120A - enter the tax as shown on the 2000 return. See instructions .....................
2c
00
c Form 120S. See instructions ....................................................................................................................
2d
00
d Forms 99T, 120, and 120A - enter the smaller of line 2a or line 2b. Form 120S - enter the smaller of line 2a or line 2c .......................
Required Installments - Due Dates and Amounts
(a)
(b)
(c)
(d)
3
3 Installment due dates. See instructions ...............................................
4 Required installments. Enter 25 percent of line 2(d) in columns (a)
through (d) unless the taxpayer uses the annualized income
installment method, the adjusted seasonal installment method or is a
4
"large corporation". See instructions ........................................................
Schedule A - Required Installments Using the Annualized Income or Adjusted Seasonal Installment Methods Under IRC § 6655(e)
Part I - Annualized Income Installment Method
(a)
(b)
(c)
(d)
First
First
First
First
Months
Months
Months
Months
1
1 Annualization periods. See instructions ....................................................................................
2
2 Enter taxable income for each annualization period ..................................................................
3
3 Annualization amounts. See instructions ..................................................................................
4
4 Annualized taxable income. Multiply line 2 by line 3 .................................................................
5 Calculate the tax on the amount in each column on line 4. See instructions ............................
5
6 Enter tax from recapture of tax credits for each payment period - see instructions ...................
6
7
7 Subtotal tax. Add lines 5 and 6 ..................................................................................................
8
8 Clean Elections Fund Tax Reduction ($5). See instructions ....................................................
9 For each period, enter the amount of nonrefundable tax credits. See instructions ...................
9
10
10 Arizona tax liability - subtract the sum of lines 8 and 9 from line 7. If zero or less, enter zero ..
11
11 Clean Elections Fund Tax Credit. See instructions .................................................................
12
12 Tax liability after Clean Elections Fund tax credit. Subtract line 11 from line 10 .......................
13
13 Refundable tax credits - see instructions ...................................................................................
14
14 Other adjustments - see instructions .........................................................................................
15
15 Net liability - subtract the sum of lines 13 and 14 from line 12. If less than zero, enter zero ....
16
22.5%
45%
67.5%
90%
16 Applicable percentage ...............................................................................................................
17
17 Multiply line 15 by line 16 ..........................................................................................................
18
18 Add the amounts in all preceding columns from page 2, Part III, line 54 - see instructions ......
19 Annualized income installments. Subtract line 18 from line 17. If zero or less,
enter zero ...................................................................................................................................
19
Part II - Adjusted Seasonal Installment Method
(a)
(b)
(c)
(d)
(Caution: Use this method only if the base period percentage of any 6 consecutive
months is at least 70%. See the instructions for more information.)
First 3
First 5
First 8
First 11
Months
Months
Months
Months
20 Enter taxable income for the following periods:
20a
a Taxable year beginning in 1998 .............................................................................................
20b
b Taxable year beginning in 1999 .............................................................................................
20c
c Taxable year beginning in 2000 .............................................................................................
21
21 Enter taxable income for each period for taxable year beginning in 2001 ................................
ADOR 03-0025 (00)
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