Maryland Form 504up Draft - Underpayment Of Estimated Income Tax By Fiduciaries - 2015 Page 2
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1
2
32015
UNDERPAYMENT OF
MARYLAND
FORM
ESTIMATED INCOME
page 2
504UP
TAX BY FIDUCIARIES
DRAFT 10/09/15
ATTACH TO FORM 504.
NAME _______________________________________ FEIN ______________________
NOTE: COMPLETE LINES 16-32 OF ONE COLUMN BEFORE GOING TO THE NEXT COLUMN.
INCOME PERIODS
Jan. 1 to
Jan. 1 to
Jan. 1 to
Jan. 1 to
Feb. 28
Apr. 30
July 31
Nov. 30
16. Taxable income withhout exemption for each period. . . . . .
17. Annualization factor . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
3
1.71429
1.09091
18. Annualized income (Multiply line 16 by line 17.) . . . . . . . . .
19. Exemption (Personal representatives enter $600, all other
fiduciaries enter $200) . . . . . . . . . . . . . . . . . . . . . . . . . . .
20. Annualized taxable income (Subtract line 19 from line 18.).
21. Compute the tax on the amount from line 20 (See
instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22. Credits and tax developed on tax preference items (See
instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23. Total tax after credit. (Subtract line 22 from line 21.) If less
than zero, enter zero. . . . . . . . . . . . . . . . . . . . . . . . . . . .
22.5%
45%
67.5%
90%
24. Applicable percentage . . . . . . . . . . . . . . . . . . . . . . . . . . .
(.225)
(.45)
(.675)
(.9)
25. Annualized tax (year to date amount) (Multiply line 23 by
line 24.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26. Add the amounts from line 32 in all preceding columns . . . .
27. Subtract line 26 from line 25. If less than zero, enter zero. .
28. Enter 1/4 of line 9 from page 1 in each column . . . . . . . . .
29. Enter the amount from line 31 of the preceding column . . .
30. Add line 28 and line 29 and enter total . . . . . . . . . . . . . . .
31. Subtract line 27 from line 30. If less than zero, enter zero. .
32. Enter the smaller of line 27 or line 30 here and the
cumulative amounts on line 10 of page 1. (See instructions.).
COM/RAD-302
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