Instructions For Paying Estimated Tax For 2000 Fiduciaries
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1MINNESOTA Department of Revenue
Instructions for paying estimated tax for 2000
Fiduciaries
Changing your address. If your
Filing requirements
of payment, the fiduciary may be billed
because your payments will not balance
address is incorrect, do not make any
A trust with an estimated tax of $500 or
with our records.
changes on your personalized Form M-70.
more must pay quarterly installments based
Forms are electronically scanned and any
on its required annual payment. Install-
If you administer 100 or more trusts, you
address changes you make on the forms
ments can be made by mailing your check
are required to make all payments for the
will not be read by the scanning equip-
with a deposit form or by means of electronic
trusts — including estimated tax — by means
ment. Follow the instructions on the back
funds transfer (EFT).
of EFT. Failure to do so when required will
of the address card attached to Form
result in a penalty being assessed.
M-70 and return it to the department.
Estates are not required to pay estimated
tax. However, if an estate wants to make
To register to make EFT payments, you
Correcting your Minnesota ID
must complete and return an EFT authori-
estimated tax payments, they can pay by
number. If your Minnesota ID number is
zation form. Download the form from our
EFT or mail the payment with Form M-70,
incorrect on your personalized Form M-70,
web site — — or
Fiduciary Estimated Tax.
write the correct number next to it, and cross
request a copy by calling (651) 296-7350 or
out the numbers at the bottom of the form.
Required annual payment. The
1-800-657-3696.
required annual payment is the lesser of 100
Blank M-70 forms
To be timely, you must initiate your
percent of the prior year’s tax liability or 90
payment at least one working day before
If you are paying by check and you don’t
percent of the current year’s tax liability. If
the due date for that payment.
have a personalized form, you must fill out
the trust has more than $150,000 of
a blank M-70 form. Be sure to fill in all the
Minnesota assignable adjusted gross income
If you are paying by EFT, discard any
information requested.
and uses its 1999 tax liability to determine
deposit forms you may have. Do not send
its 2000 required annual payment, the trust
the deposit forms to the department.
Minnesota ID number. Your Minnesota
must pay 110 percent — rather than 100
tax ID number is the seven-digit number
percent — of the prior year’s tax liability.
Paying by mail
assigned to you by the department. It is
the same as your sales and use tax or
The required annual payment must be
If you pay by mail, you must send your
employer’s withholding tax number.
paid in equal installments unless certain
payment with Form M-70 deposit forms.
exceptions apply.
See “Form M-70 instructions” for details.
Important: We need your Minnesota ID
number on Form M-70 to process and
Due dates. Quarterly payments are due
Information and assistance
credit your estimated tax payments
in equal installments on the 15th day of the
properly. If you don’t have a Minnesota ID
Forms are available on our web site —
4th, 6th and 9th months of the tax year and
— or by calling
number, you must apply for one. Call (651)
the 1st month following the end of the tax
282-5225 or toll-free 1-800-657-3605. Or, you
(651) 296-4444 or toll-free 1-800-657-3676.
year. Payments for a short tax year are
may file a completed Form ABR, Applica-
due in equal installments on the 15th day
If you need additional information or help
tion for Business Registration, with the
of the 4th, 6th, 9th and final months
to determine your estimated tax, call the
department.
depending on the number of months in the
department at (651) 296-3475 or toll-free
short tax year. No payments are required
1-800-657-3871.
Also, fill in your federal ID number, but not
for a short tax year of less than four months.
in place of your Minnesota ID number.
TTY users may contact the department
Underpaying installments. If you did
through the Minnesota Relay Service at
Tax year ending date. Fill in the
not pay enough estimated tax or if you did
1-800-627-3529 (ask for 1-800-657-3871).
ending date (month and year) of the tax
not make the payments on time or in the
year for which the estimated tax payment
required amount, you may have to pay an
If you need information in an alternative
is being made. For example, if your tax
additional charge. For more information,
format such as large print or cassette tape,
year is from January 1, 2000 through
request Schedule M-15, Underpayment of
we will provide it.
December 31, 2000, fill in “12/00” on your
Estimated Income Tax by Individuals, Trusts,
deposit form.
and Partnerships, from the department.
Form M-70 instructions
Amount of payment. Round off the
Determining your estimated tax.
Personalized M-70 forms
amount of your payment to the nearest
Determine your 2000 federal estimated tax
The Department of Revenue mails person-
whole dollar and fill in the space provided.
by filling out the federal estimated income
alized, scannable forms (Form M-70) and
tax for fiduciaries (Form 1041-ES). Then
Deposit forms do not have to be filed if no
an address card to those who filed pay-
use your 1999 Minnesota fiduciary income
installment payment is due.
ment vouchers in the previous year. The
tax return as a worksheet to determine
fiduciary’s name, Minnesota tax ID
your estimated tax for 2000.
Mailing your payment
number, and tax year ending date are
printed on the front. The fiduciary fills in
Paying by EFT
Make your check out to:
the payment amount. Use the personalized
Minnesota Department of Revenue
If you pay electronically, there is no paper
forms to ensure timely and accurate
voucher or tax return to attach to your
processing of your estimated tax payments.
Mail your check and Form M-70 to:
payment. However, you must be regis-
Minnesota Fiduciary Estimated Tax, Mail
When you use the preprinted M-70 deposit
tered for the type of payment you want to
Station 1275, St. Paul, MN 55145-1275.
forms, check to make sure your address
transmit. If you transmit the incorrect type
and Minnesota ID number are correct.
Stock No. 3500870
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