Montana Form Est-I - Underpayment Of Estimated Tax By Individuals And Fiduciaries printable pdf download

Underpayment of Estimated Tax

MONTANA

EST-I

by Individuals and Fiduciaries

Rev. 8-04

15-30-241,

MCA

Name ______________________________________________________ SSN _______________________________

Spouse's name _______________________________________________ SSN _______________________________

Part I Required Annual Payment — All filers must complete this part

Enter 2004 tax from line 54 of Form 2 or line 31 of Form 2S or line 41 of Form FID-3

(enter total liability of both spouses if married filing separate on the same form.) ............................................. 1. _____________

Multiply line 1 by 90% (.90). ............................................................................................... 2._____________

Enter Montana tax withheld and/or the Elderly Homeowner/Renter credit for 2004. ........................................... 3. _____________

Subtract line 3 from line 1. If less than $500, stop here. ..................................................................................... 4. _____________

Enter 2003 tax (Line 55 of Form 2 or line 31 of Form 2S or line 43 of Form FID-3). ............................................ 5. _____________

Required annual payment. Enter the smaller of line 2 or line 5. If line 3 is equal to

or more than line 6, stop here, no penalty is due. ................................................................................................ 6. _____________

Part II Short Method — Use this method if you did not make estimated tax payments or if you made estimated tax payments on the

due dates and in four equal amounts. Otherwise, use the regular method (Part III).

Enter the amount, if any, from line 3 above. ...................................................................... 7._____________

Enter the total amount, if any, of estimated tax payments made including

amounts credited from prior years. .................................................................................. 8._____________

Add lines 7 and 8. ................................................................................................................................................. 9. _____________

10. Total underpayment for year. Subtract line 9 from line 6. If the result is zero or less,

stop here, you do not owe underpayment interest penalty. ................................................................................ 10. _____________

11. Multiply line 10 by .07980 and enter the result. ................................................................................................... 11. _____________

12. If the amount on line 10 was paid on or after 4/15/2005, enter zero.

If the amount on line 10 was paid before 4/15/2005, multiply amount on line 10 by

number of days paid before 4/15/2005 x .0003288. ........................................................................................... 12. _____________

13. Underpayment interest. Subtract line 12 from line 11. Enter the results

here and on line 65 of Form 2 or line 37 of Form 2S or on line 50 of Form FID-3. .......................... Total Due: 13. _____________

Part III Regular Method — Use this method if you made payments of unequal amounts. The due dates shown are for calendar year

taxpayers. Adjust these dates accordingly for fiscal year returns.

Complete lines 14 through 17 in each column before going

to line 18.

4/15/04

6/15/04

9/15/04

1/15/05

14. Divide line 6 by four (4) and enter the result in each

column. ............................................................................... 14.

15. Enter amount of estimated tax paid on each date. ............ 15.

16. Enter one-fourth of the amount on line 3 in each column. 16.

17. Add lines 15 and 16. This is your total payment. .............. 17.

Complete lines 18 through 27 of one column before going to the next column

18. Enter amount, if any, from line 25 of previous column. ..... 18.

19. Add lines 17 and 18. .......................................................... 19.

20. Enter amount on line 24 of the previous column. .............. 20.

21. Subtract line 20 from line 19. If zero or less, enter zero. For

column A only, enter the amount from line 17. .................. 21.

22. If the amount on line 21 is zero, subtract line 19 from

line 20. Otherwise, enter zero. .......................................... 22.

23. Underpayment. If line 14 is equal to or greater than

line 21, subtract line 21 from line 14. Then go to

line 24. Otherwise, go to line 25. ...................................... 23.

24. Add lines 22 and 23. Enter here, then go to line 27. ........ 24.

25. Overpayment. If line 21 is more than line 14, subtract line

14 from line 21. Then go to line 18 of next column. .......... 25.

26. Number of days until next estimated payment date. ......... 26.

122

27. Interest. line 24 x days from line 26 x 12%

365 days

....................... 27.

28. Underpayment Interest. Add the amounts on line 27 of each column.

Enter total here and on line 65 of Form 2, line 37 of Form 2S, or line 50 of Form FID-3. ........ 28.

117

Montana Form Est-I - Underpayment Of Estimated Tax By Individuals And Fiduciaries

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