Instructions For 2008 Wisconsin Form 4-Es - Corporation Estimated Tax (Page 2 of 3) in pdf

Page 2

(A) Original Computation (B) Amended Computation

Schedule A

Computation of Estimated Tax and Recycling Surcharge

1 Amount of total estimated net income expected in taxable year that begins in 2008

2 Percentage of line 1 attributable to Wisconsin

3 Amount of estimated net income attributable to Wisconsin (multiply line 1 by line 2)

4 Franchise or income tax (for corporations, 7.9% of income on line 3; trusts use trust rates)

5 Total estimated credits – such as sales tax, farmland, research, historic, development zone, and technology zone

6 Net franchise or income tax (subtract line 5 from line 4)

7 Recycling surcharge (3% of line 4 for C corporations; S corporations and trusts see tax return instructions)

8 Total estimated tax and recycling surcharge (add lines 6 and 7)

Schedule B

Computation of Installments Due

Installment Number

1 Enter in columns 1 through 4 the installment due dates that correspond

to the 15th day of the 3rd, 6th, 9th, and 12th months of the taxable year.

2 If 4 installments are due, enter in each column 1/4 of Schedule A, line 8,

col. A. If less than 4 installments are due, see instructions under “When to Pay.”

3 Enter any overpayment from your 2007 Form 4, 4

, 4T, 5, or 5S (apply first

to col. 1 and carry any unused balance to col. 2, then col. 3, etc.).

4 Installment amount (subtract line 3 from line 2). Enter here and on

installment vouchers.

Schedule C

Computation of Amended Installments Due

1 Enter amended estimated tax and recycling surcharge from Schedule A, line 8, column B

a Amount of overpayment from 2007 Form 4, 4

, 4T, 5, or 5S offset against installments paid to date

2 Enter:

b Amount of payments made to date

3 Total of payments and credits claimed to date (add line 2a and line 2b)

4 Unpaid balance (subtract line 3 from line 1)

5 Enter the due dates of remaining installments due (from Schedule B,

line 1)

6 To determine the portion of line 4 to enter for each remaining

installment, see instructions under “Amended Installments”

7 Enter the balance of 2007 overpayment – total overpayment credited

from 2007 Form 4, 4

, 4T, 5, or 5S less amount entered on line 2a

above (apply first to next installment due and carry any unused balance

to the next installment due, etc.)

8 Amended installments due (subtract line 7 from line 6)

Schedule D

Record of Payments

Total

2007 overpayment from Form 4, 4

, 4T, 5, or 5S

Date paid

Amount paid

Total 2008 payments (add line 1 and line 3)

Keep Schedules A Through D for Your Records

For example, a new corporation, which begins operations in

b. If only the last 3 installments are being amended, enter 1/2 of

Schedule C, line 4, on line 6 for the first amended installment

Wisconsin on March 1, 2008, and which elects to file franchise or

and 1/4 for each of the last 2 installments.

income tax returns on a calendar-year basis, will be required to

make 3 installment payments due June 16, September 15, and

December 15. If this new corporation’s 2008 estimated tax and

c. If only the last 2 installments are being amended, enter 3/4 of

Schedule C, line 4, for the first amended installment and 1/4

surcharge is $4,000, $2,000 would be due June 16 and $1,000

would be payable for each of the installments due September 15

for the last installment.

and December 15.

d. If only the last installment is being amended, enter all of

Schedule C, line 4, on line 6.

Amended Installments

If the original estimate of tax and surcharge liability is materially

Interest on Underpayment of Estimated Tax and Recy-

altered, you should amend remaining installment payments to

cling Surcharge

reflect the change in estimated tax and surcharge liability.

Complete column B of Schedule A to compute your amended

If a required installment is not paid by its due date, 12% annual

estimated tax and surcharge and Schedule C to compute your

interest may be imposed. The interest is computed on the

underpayment of each installment for the period of the under-

amended installments due.

payment. Use Wisconsin Form 4U to compute underpayment

Determine the amount to enter on Schedule C, line 6, as follows:

interest.

a. If all 4 installments are being amended, enter 1/4 of Schedule

The period of the underpayment is the time from the due date of

C, line 4, for all 4 periods.

the installment to the earlier of either the date on which it is paid

Instructions For 2008 Wisconsin Form 4-Es - Corporation Estimated Tax Page 2

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