Form M-14 - Estimated Tax Payment Record - Minnesota Department Of Revenue 1999


MINNESOTA Department of Revenue
Instructions for Estimated Income Tax
How to estimate your
Individuals use Form M-14 payment
cross out the numbers (the scan line) at the
voucher to make regular installment
income tax for 1999
bottom of the voucher.
payments of estimated tax on their annual
First, figure your federal estimated income
If your address has changed since you last
for 1999 on federal Form 1040ES. Then,
filed, use the address card to write in your
use the 1998 Minnesota Form M-1 and
new address—do not make the changes to
What is estimated tax?
instructions as a worksheet to estimate
the voucher. Personalized forms with the
Estimated tax is the method you use to pay
your tax for 1999. Complete the 1998 Form
correction will be sent to you next year.
tax on income that is not subject to
M-1 using your estimated 1999 income and
withholding; for example, earnings from
withholding, child care, working family,
Blank forms (Form M-14)
self-employment, pensions, unemploy-
and education credits. For a more accurate
Fill in the required information on Form
ment compensation, interest, dividends,
estimate of the amount to enter on line 7 of
rents, alimony, etc.
your worksheet, use the 1999 tax rates
• your Social Security number. Be sure
(shown below) rather than the tax tables in
You estimate what your total 1999 income
you fill in your correct Social Security
the booklet.
will be, figure the income tax on your
number. If your Social Security number
estimated income, and pay the tax in
If the amount on line 21 of your M-1
is not correct, we cannot properly credit
worksheet is less than $500, you do not
your account.
have to pay estimated tax payments. If the
You will determine the actual amount of
• you must list your spouse’s Social
amount is $500 or more, you are required to
your 1999 Minnesota income tax in early
Security number if you will be filing a
make installment payments of estimated tax.
2000 when you fill out your 1999 Minnesota
joint return. If you will be filing a
Income Tax Return, Form M-1.
separate return, list only your Social
Keep your worksheet for your records.
Security number.
You do not have to send it to the Depart-
Who must make estimated
ment of Revenue.
tax payments?
Installment amounts and
How to determine if you must
In most cases, you must make estimated tax
payment due dates
payments if you expect to owe $500 or more
pay alternative minimum tax. . .
One-fourth of your estimated tax is due by
in Minnesota income tax for 1999 after you
each of the dates shown below. Your
Follow the instructions in the section titled
subtract your withholding and credits (for
payment must be postmarked no later than
“Schedule M-1MT, If you have to pay
example, your child and dependent care,
the due date. (Farmers: See specific
Minnesota alternative minimum tax” of
working family, and education credits),
instructions on the next page.)
the 1998 Minnesota income tax instruc-
and you expect your withholding and
tions. Include any alternative minimum
1st installment
April 15, 1999
credits to be less than the smaller of:
tax you expect to pay in the amount you
2nd installment
June 15, 1999
list on line 7 of your M-1 worksheet.
• 90 percent of the tax shown on your
3rd installment
September 15, 1999
1999 Form M-1 (66.7 percent if you are a
4th installment
January 18, 2000*
Personalized forms (Form M-14)
farmer), or
The Department of Revenue mails person-
* If you file your 1999 Form M-1 by
• 100 percent of your 1998 tax (line 7 of
alized, scannable forms (Form M-14) and
January 31, 2000, and pay the entire
your 1998 Form M-1) if your federal
an address card to those who filed pay-
balance due with your return, you do not
adjusted gross income on your 1998
ment vouchers in the previous year. The
have to make the payment due on
return is $150,000 or less. If your 1998
personalized forms should be used to
January 18, 2000.
federal adjusted gross income is more
ensure timely and accurate processing of
If you file on a fiscal year basis, your
than $150,000, use 110 percent instead
your estimated tax payments. If you use a
installment payments must be postmarked
of 100 percent. Nonresidents and part-
tax preparer, please bring your personal-
no later than the 15th day of the 4th, 6th, and
year residents use Minnesota assignable
ized forms to your preparer.
9th months for your current fiscal year and
adjusted gross income.
When you use your personalized Form
the 1st month of the following fiscal year. If
If you were a Minnesota resident for all of
M-14, check to make sure the preprinted
any payment date falls on a Saturday, Sunday
1998 and your 1998 return covered a 12-
Social Security number(s) is correct. If the
or legal holiday, use the next business day.
month period, you do not have to make
number is wrong, cross out the incorrect
You must use 1999 vouchers for your fiscal
estimated tax payments if the tax on line 7
number and write in the correct number
year beginning in 1999.
of your 1998 Form M-1 was zero.
next to it. It is important that you also
Continued on back.
If you receive salaries and wages, you may
be able to avoid having to pay estimated
Taxable income brackets for 1999
tax payments by asking your employer to
Minnesota income tax brackets adjusted for inflation for tax year 1999 are:
take more Minnesota income tax out of
your earnings.
Married, filing jointly
over $100,200
over $50,100
Married, filing separately
Head of household
over $85,350
over $56,680
Stock No. 1599140


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