Form 504up - Underpayment Of Estimated Maryland Income Tax By Fiduciaries - 1999 Page 2
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1
2Maryland
UNDERPAYMENT OF ESTIMATED
PAGE 2
MARYLAND INCOME TAX
Form 504UP
BY FIDUCIARIES
1999
CAUTION: COMPLETE LINES 16-32 OF ONE COLUMN BEFORE GOING TO THE NEXT COLUMN
ANNUALIZED INCOME INSTALLMENT METHOD
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 without exemption for each
period
6
3
1.71429
1.09091
17. Annualization factor
18. Annualized income (Multiply line 16 by line 17)
19. Exemption (Personal representative 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 credits (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 ¼ of line 9 from page 1 in each column
29. Enter 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)
COT/RAD-302
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