Annualized Income Installment Worksheet For Underpayment Of Estimated Tax Form
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2Annualized Income Installment Worksheet for Underpayment of Estimated Tax
COMPLETE LINES 1-25 OF EACH COLUMN BEFORE GOING ON TO THE NEXT COLUMN
(See instructions on back)
(a) 1/1/04
(b) 1/1/04
(c) 1/1/04
(d) 1/1/04
to 3/31/04
to 5/31/04
to 8/31/04
to 12/31/04
1. Enter your Maine adjusted gross income for
each period ...........................................................
1
2. Annualization amounts .........................................
2
4
2.4
1.5
1
3. Annualized income (multiply line 1 by line 2) .......
3
4. Enter your itemized deductions for the period
shown in each column. If you do not itemize,
enter -0- and skip to line 7 ....................................
4
5. Annualization amounts .........................................
5
4
2.4
1.5
1
6. Annualized itemized deductions. Multiply line 4
by line 5 ................................................................
6
7. In each column, enter the full amount of your
standard deduction from Form 1040ME, line 17 ..
7
8. Enter line 6 or line 7, whichever is greater ...........
8
9. Subtract line 8 from line 3 .....................................
9
10. In each column, multiply $2,850 by the total
number of exemptions claimed on Form
1040ME, line 13 ....................................................
10
11. Subtract line 10 from line 9 ...................................
11
12. Figure your tax on the amount on line 11 using
the Tax Table in the Form 1040ME booklet ..........
12
13. Enter other taxes for each payment period
(See instructions) ..................................................
13
14. Total tax. Add lines 12 and 13 ...............................
14
15. For each period, enter credits allowed
(See instructions) ..................................................
15
16. Subtract line 15 from line 14. If zero or less,
enter -0- ................................................................
16
17. Applicable percentage ..........................................
17
22.5%
45%
67.5%
90%
18. Multiply line 16 by line 17 .....................................
18
19. Add the amounts shown on line 25 in all
preceding columns, and enter the result here ......
19
20. Subtract line 19 from line 18. If zero or less,
enter -0- ................................................................
20
21. Divide line 6, Form 2210ME, by four (4) and
enter the result in each column ............................
21
22. Enter the amount from line 24 of the preceding
column ..................................................................
22
23. Add lines 21 and 22 and enter the total ................
23
24. If line 23 is more than line 20, subtract line
20 from line 23. Otherwise, enter -0- ....................
24
25. Enter smaller of line 20 or line 23 here and
on Form 2210ME, line 9 .......................................
25
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