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

Page 3

or the 15th day of the 3rd month (5th month for tax-exempt

A corporation that has overpaid its estimated tax and surcharge

organizations) after the close of the taxable year.

may apply for a refund before filing its tax return if the overpay-

ment is

Underpayment interest will not be due if each required install-

ment is for the correct amount and is timely paid, and the total

a. at least 10% of its estimated Wisconsin franchise or income

tax and surcharge paid meets one of the following:

tax and surcharge liability and

a. Is at least equal to 90% of the amount of tax and surcharge

b. at least $500.

shown on the 2008 franchise or income tax return filed.

To apply, file Form 4466W, Corporation Application for Quick

b. Is, for corporations with less than $250,000 of Wisconsin net

Refund of Overpayment of Estimated Tax, after the end of the

income, 100% of the tax shown on the 2007 return (a 2007

taxable year and before filing your tax return. You must subtract

return must have been filed covering a full 12-month year).

refunds obtained through this process from the estimated tax

and surcharge payments that you claim on your tax return.

c. Is at least equal to 90% of the tax and surcharge figured by

(Note: Exempt trusts cannot file Form 4466W.)

annualizing the taxable income earned for the months ending

before the due date of the installment. (Note: Tax-exempt

A corporation that has a tax or surcharge due when filing its tax

organizations may annualize income for the months of the

return as a result of receiving a “quick refund” will be charged

taxable year ending one month before the installment due

12% annual interest on the amount of unpaid tax or surcharge

date.)

from the date the refund is issued to the earlier of the 15th day

of the 3rd month after the close of the taxable year or the date

Corporations that compute any installment using the annual-

the tax and surcharge liability is paid. Any tax or surcharge that

ized income installment method must increase the next

remains unpaid after the unextended due date of the tax return

installment due which is not annualized by the amount which

continues to be subject to 18% or 12% annual interest, as

the annualized installment was less than a or b above.

appropriate.

Corporations that file returns using the apportionment

Where to Obtain Assistance

method may use the apportionment percentage from the

If you need help, call (608) 266-0800 or contact any Department

return filed for the previous taxable year for computing annu-

of Revenue office.

alized income installments if (1) the previous year’s return is filed

by the due date of the

installment for which the income is being

PAYMENT INSTRUCTIONS

annualized, and (2) the apportionment percentage on that return

is greater than zero.

You may make estimated tax and surcharge payments using

electronic funds transfer (EFT). If making estimated payments

A multistate corporation that has at least $250,000 of Wiscon-

by EFT, do not complete and submit Form 4-ES. For more

sin net income may use the apportionment percentage from

information and EFT registration forms, visit the Department’s

its return filed for the previous taxable year for computing

web site at , e-mail

annualized income installments if (1) the previous year’s

eft@revenue.wi.gov, call (608) 264-9918, or write to the EFT

return is filed by the due date of the 3rd installment, (2) the

Unit, Wisconsin Department of Revenue, P.O. Box 8949, Madi-

apportionment

percentage on that return is greater than zero,

son, WI 53708-8949. For EFT payments of estimated tax, enter

and (3) the apportionment percentage used in computing the

the last day of your taxable year, not the last day of the quarter,

first 2 installments is not less than the apportionment percent-

for which the payment is being made.

age used on that return.

Otherwise, make your check payable to the Wisconsin Depart-

Underpayment interest will be increased or decreased based on

ment of Revenue, and mail your estimated tax voucher and

any changes made to the tax and surcharge originally reported.

payment to:

Refunds of Estimated Tax and Recycling Surcharge

Wisconsin Department of Revenue

Payments

PO Box 930208

If your installment payments and credits exceed the tax and

Milwaukee, WI 53293-0208

surcharge liability for 2008, the overpayment may be refunded,

or all or part may be credited to your 2009 estimated tax and

Do not mail your 2008 estimated tax voucher with your 2007

surcharge with any remainder being refunded.

franchise or income tax return. They are to be mailed to different

locations.

Instructions For 2008 Wisconsin Form 4-Es - Corporation Estimated Tax Page 3

Related Articles

Related forms

Related Categories