Form 1120es - Maine Corporate Income Tax Estimated Tax Worksheet - 2005 Page 2
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2FORM 1120W-ME
2005
2005
MAINE CORPORATE INCOME TAX
ESTIMATED TAX WORKSHEET
For Form 1120ES-ME
1.
MAINE NET INCOME
(check one) .........
For immediate prior year .........
Current year estimated ......... 1. ____________
2.
ESTIMATED MAINE CORPORATE INCOME TAX
..................................................................................................... 2. ____________
For tax years beginning on or after January 1, 2004, the Maine corporate tax rate is as follows:
If Maine net income is:
The tax is:
Greater than
But not over
$
0
$ 25,000
3.5% of Maine net income
$ 25,000
$ 75,000
$
875 plus 7.93% of excess over $ 25,000
$ 75,000
$250,000
$ 4,840 plus 8.33% of excess over $ 75,000
$250,000 or more
$19,418 plus 8.93% of excess over $250,000
3.
OVERPAYMENT
from prior year elected for credit to estimated tax: ..................................................................... 3. ____________
4.
BALANCE
of estimated Maine corporate income tax (line 2 minus line 3): ......................................................... 4. ____________
5.
COMPUTATION and RECORD OF PAYMENTS
Total Estimate
Prior Year
Original or
Amount of
Overpayment
Balance
Total Payments
Date Paid
Amended
Installment Payable
Applied to Installment
Payable by Check
and Refund Applied
1. ____________
$ _____________
$ _______
$ ____________
$ ____________
$ _____________
April 15
2. ____________
$ _____________
$ _______
$ ____________
$ ____________
$ _____________
June 15
3. ____________
$ _____________
$ _______
$ ____________
$ ____________
$ _____________
Sept 15
4. ____________
$ _____________
$ _______
$ ____________
$ ____________
$ _____________
Dec 15
Fiscal year corporations: use dates corresponding with the 15th day of the 4th, 6th, 9th and 12th months of the fiscal year.
NOTE: if your estimated tax should change during the year, you may use the amended computation worksheet below to
determine the amended amounts to be entered on declaration.
1.
AMENDED ESTIMATED CORPORATE INCOME TAX ...............................................................................................
1. ____________
2.
LESS:
a.
Amount of
OVERPAYMENT
from prior year credited to
this year’s estimated tax and applied to date ................................................................................................. 2a. ____________
b. PAYMENTS
made for current year ................................................................................................................... 2b. ____________
c. TOTAL:
Line 2a plus line 2b ............................................................................................................................ 2c. ____________
3.
UNPAID BALANCE:
Line 1 minus line 2c .............................................................................................................. 3. ____________
4.
AMOUNT TO BE PAID:
Line 3 divided by number of remaining installments ...................................................... 4. ____________
(KEEP FOR YOUR RECORDS)
SEE REVERSE SIDE FOR INSTRUCTIONS
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