Montana Form Clt-4-Ut - Underpayment Of 2007 Estimated Tax By Corporation
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1
2
3MONTANA
CLT-4-UT
Clear Form
Rev. 11-07
Underpayment of 2007 Estimated Tax By Corporation
Instructions attached
For calendar year 2007 or tax year beginning (MM-DD) ___ - ___- 07 and ending (MM-DD-YY) ___ - ___ - ___
Corporation name ______________________________________________________ FEIN ______________________
Part I
Figuring your underpayment
1. Enter your Montana tax liability from Form CLT-4, page3, line 10. .......................................................... 1.
2. Enter your total credits from Form CLT-4, page 3, line 12. ...................................................................... 2.
3. Subtract line 2 from line 1. If the result is less than $5,000, you do not need to complete the rest of
this form because you do not owe the interest. Otherwise, go to line 4. ................................................... 3.
4. a. Multiply line 3 by 80% and enter the result. .............................................................. 4a.
b. Enter 100% of the Montana tax liability shown on your previous year’s
CLT-4 (see instructions). ............................................................................................ 4b.
c. Enter the lesser of line 4a or 4b (see instructions). ........................................................................... 4c.
A
B
C
D
5. Enter in columns A through D the quarterly
installment due dates (the 15th day of the fourth,
sixth, ninth, and twelfth months of your tax year). .........5.
6. Multiply the amount in 4c by 25% and enter this
amount in each column of line 6 unless you use the
annualized income installment method and/or the
adjusted seasonal installment method. If so,
complete the worksheet in the instructions and enter
the amount from line 41 of the worksheet in each
column of line 6. Also check this box
and attach a
copy of the worksheet to this form.
These are your required installments. ......................6.
Complete lines 7 through 14 for one column before completing the next column.
7. Enter the amount paid or credited for each
period (see instructions). ................................................7.
8. Enter the amount, if any, from line 14 of the previous column. ............. 8.
9. Add lines 7 and 8 and enter the result. ..........................9.
10. Add the amounts on lines 12 and 13 of the previous
column and enter the result.................................................................. 10.
11. Subtract line 10 from line 9 and enter the result. If less
than zero, enter zero. ...................................................11.
12. If the amount on line 11 is zero, subtract line 9 from
line 10 and enter the result. Otherwise, enter zero. ............................. 12.
13. If line 11 is less than or equal to line 6, subtract line
11 from line 6 and enter the result. Then go to line 7 of
the next column. Otherwise, go to line 14.
This is your underpayment. ......................................13.
14. If line 6 is less than line 11, subtract line 6 from line
11 and enter the result. Then go to line 7 of the next
column. This is your overpayment. ..........................14.
Part II
Figuring your underpayment interest
15. Enter the date of payment or the 15th day of the fi fth
month after the close of the tax year, whichever is
earlier. ..........................................................................15.
16. Enter the number of days from the installment due
date on line 5 to the date shown on line 15. ................16.
17. Multiply line 13 by line 16. Multiply the result by
12% and then divide the result by 365. ........................17.
18. Add all amounts on line 17, columns A through D. Enter the result here and on Form CLT-4, page 3,
line 17. This is your total underpayment interest. ............................................................................. 18.
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