Instructions For Combined Wisconsin Individual And Fiduciary Income Tax Return For Nonresident Partners Form 1cnp 1998 (Page 6 of 7) in pdf

Page 5

tax computation worksheet for individuals below. Don’t

1998 Tax Rate Schedule —

use the tax tables in the Form WI-Z, 1A, or 1 booklets

Estates and Trusts

because a standard deduction is built into those tables.

If column E is:

The 1998 gross tax is:

No standard deduction or itemized deductions will be

over —

but not

of the

allowed for purposes of this combined filing.

over —

amount

over —

Tax Computation Worksheet — Individuals

$ 7,500

4.77%

1 If your filing status is:

7,500

15,000

$357.75 + 6.37%

7,500

• Single or head of household,

15,000 or over

$835.50 + 6.77%

15,000

fill in $7,500

• Married filing joint return,

fill in $10,000

Column I. Alternative Minimum Tax — A partner

• Married filing separate return,

may be subject to the Wisconsin alternative minimum

fill in $5,000 . . . . . . . . . . . . .

tax if the partnership has adjustments and tax prefer-

2 Divide the amount from Schedule

ence items that are attributable to Wisconsin (Schedule

2, column E, by the amount from

3K-1, lines 14a through 14e, column d).

Schedule 2, column F, and enter

the ratio . . . . . . . . . . . . . . . . . . .

Complete a separate Wisconsin Schedule MT for each

3 Multiply line 1 by line 2 . . . . . . .

partner who is subject to the alternative minimum tax. If

4 Fill in the amount from Schedule

both spouses are partners and are filing a joint return,

2, column E . . . . . . . . . . . . . . . .

combine their income, adjustments, and tax preference

5 Fill in the smaller of line 3 or

items on one Schedule MT. Enter the amount of alter-

line 4 . . . . . . . . . . . . . . . . . . . . .

native minimum tax in column I. Attach a copy of

6 Multiply line 5 by 4.77% (0.0477)

(round to the nearest cent) . . .

Schedule MT to Form 1CNP.

7 Subtract line 5 from line 4. If the

result is zero, skip lines 8

Column J. Temporary Recycling Surcharge — A

through 11 and go to line 12 . .

partner acting in the capacity of a partner who receives

8 Fill in the smaller of line 3 or

at least $4,000 of guaranteed payments for federal

line 7 . . . . . . . . . . . . . . . . . . . . .

income tax purposes generally is subject to the tempo-

9 Multiply line 8 by 6.37% (0.0637)

rary recycling surcharge. The surcharge is the greater

(round to the nearest cent) . . .

of $25 or 0.2173% of the guaranteed payments attribut-

10 Subtract line 8 from line 7. If the

able to Wisconsin, but not more than $9,800. The

result is zero, skip line 11 and go

surcharge doesn’t apply to a limited partner’s guaran-

to line 12 . . . . . . . . . . . . . . . . . .

teed payments for the use of capital.

11 Multiply line 10 by 6.77%

(0.0677) (round to the nearest

For additional information about the temporary recycling

cent) . . . . . . . . . . . . . . . . . . . . .

surcharge, refer to the department’s Publication 400,

12 Add lines 6, 9, and 11. Fill in the

Wisconsin’s Temporary Recycling Surcharge .

total here and on Schedule 2,

column H . . . . . . . . . . . . . . . . . .

Note: The temporary recycling surcharge is scheduled

Alternate Method: If the partner’s federal adjusted

to expire for taxable years ending on or after April 1,

gross income is unknown, multiply the Wisconsin

1999.

income in column E by 6.77% (0.0677) and enter the

result on Schedule 2, column H.

Column K. Estimated Tax Payments — Enter any

estimated tax and temporary recycling surcharge pay-

For estates and trusts, use the tax rate schedule in the

ments made by the partner or by the partnership on

next column.

each partner’s behalf.

Instructions For Combined Wisconsin Individual And Fiduciary Income Tax Return For Nonresident Partners Form 1cnp 1998 Page 6

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