Form 5806 - Underpayment Of Estimated Tax By Corporations - 1998 Page 2
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1
2
3Part IV
Exceptions Worksheets Continued
Exception A —
Prior Year’s Tax — Large Corporations
Use this exception only if prior year tax is less than current year tax.
27 Current year’s tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
1st Installment
2nd Installment
28 a Installment due. Enter line 23 x 25% (.25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28a
b Installment due. Enter line 27 x 50% (.50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28b
29 Amount paid by the installment due date (cumulative) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
30 Compare the amount on line 28 with the amount on line 29. If the amount on line 28 is greater
than the amount on line 29, the exception was not met. Circle ‘‘yes’’ or ‘‘no’’ and check applicable
boxes on line 8b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30
Yes
No
Yes
No
To meet this exception you must circle yes for both installments. See instructions regarding amounts to use for installment 3 and installment 4.
Form
(a)
(b)
(c)
(d)
Exception B —
Tax on Annualized Current Year Income
Enter number of months for each period. See instructions
100 & 100S
109
31 Enter taxable income for each annualization period. . . . . . .
31
32 Annualization amounts. See instructions . . . . . . . . . . . . .
32
33 a Annualized taxable income. Multiply line 31 by line 32 . . .
33a
b R&TC Section 23802(e) deduction (S corporations only) . .
33b
c Net income. Subtract line 33b from line 33a. . . . . . . . .
33c
34 Tax. Multiply line 33c by the current tax rate . . . . . . . . . .
34
35 Tax credits for each payment period . . . . . . . . . . . . . . .
35
36 Subtract line 35 from line 34 . . . . . . . . . . . . . . . . . . .
36
37 Other taxes* . . . . . . . . . . . . . . . . . . . . . . . . . . . .
37
38 Total tax. Add line 36 and line 37 . . . . . . . . . . . . . . . .
38
39 Applicable percentage. For short period returns (income year of
50%
75%
less than 12 months) see the instructions for Part I, line 3 . .
39
25%
100%
(not less than min.)
40 Installment due. Multiply line 38 by line 39 . . . . . . . . . . .
40
41 Amount paid by the installment due date (cumulative) . . . . .
41
42 Exception met? If the exception has been met for any of the
installment periods, circle ‘‘yes’’ or ‘‘no’’ and check
applicable boxes on line 9. . . . . . . . . . . . . . . . . . . . .
42
Yes
No
Yes
No
Yes
No
Yes
No
*Include alternative minimum tax, S corporation taxes from Schedule D and from the excess net passive income tax, the QSSS annual tax, LIFO recapture
tax, credit recapture and the minimum franchise tax.
(a)
(b)
(c)
(d)
Exception C — Tax on Annualized Seasonal Income
1st 3 months
1st 5 months
1st 8 months
1st 11 months
43 Enter taxable income for the following periods:
a Income year beginning in 1995 . . . . . . . . . . . . . . . .
43a
b Income year beginning in 1996 . . . . . . . . . . . . . . . .
43b
c Income year beginning in 1997 . . . . . . . . . . . . . . . .
43c
44 Enter taxable income for each period for the income
year beginning in 1998 . . . . . . . . . . . . . . . . . . . . . .
44
1st 4 months
1st 6 months
1st 9 months
Entire year
45 Enter taxable income for the following periods:
a Income year beginning in 1995 . . . . . . . . . . . . . . . .
45a
b Income year beginning in 1996 . . . . . . . . . . . . . . . .
45b
c Income year beginning in 1997 . . . . . . . . . . . . . . . .
45c
46 Divide the amount in each column on line 43a by the
amount in column (d) on line 45a . . . . . . . . . . . . . . . .
46
47 Divide the amount in each column on line 43b by the
amount in column (d) on line 45b . . . . . . . . . . . . . . . .
47
48 Divide the amount in each column on line 43c by the
amount in column (d) on line 45c. . . . . . . . . . . . . . . . .
48
49 Add line 46 through line 48 . . . . . . . . . . . . . . . . . . . .
49
50 Divide line 49 by 3 . . . . . . . . . . . . . . . . . . . . . . . . .
50
580698209
Side 2 FTB 5806 1998
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