Form Esw - Montana Individual Estimated Income Tax Worksheet - Montana Dept.of Revenue - 2005 Page 2
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1
2When to pay your estimated tax
the taxpayer died in 2005 (however, estates are subject to the
Calendar Year Taxpayers
estimated tax requirements), or
You may prepay all of your estimated tax for tax year 2005 by
the tax liability is less than $500 after credits and/or
April 15, 2005, or in four equal amounts by the dates below.
withholding.
2005 Estimated Payment Schedule:
Nonresidents and part-year residents
First payment
—
due April 15, 2005
Nonresidents and part-year residents who are not required
Second payment
—
due June 15, 2005
to file a Montana individual income tax return are not
Third payment
—
due Sept. 15, 2005
required to file estimated tax.
Fourth payment
—
due Jan. 15, 2006
Nonresidents and part-year residents are required to make
If the installment due date falls on a holiday, payment is due on
estimated tax payments if they expect to owe at least $500
the next working day.
after subtracting withholding and allowable credits.
Fiscal Year Taxpayers
Due dates for fiscal year filers are the 15th day of the 4th, 6th, and
Complete the Estimated Tax Payment form if you are remitting
9th months of the fiscal year and the 1st month of the following
a payment. Submit one payment form for each quarter you are
fiscal year.
estimating.
A penalty will not be imposed on any underpayment of the fourth
Penalty for underpayment
installment if you pay in full the amount computed on the return as
An underpayment penalty will be assessed if you fail to make
payable and file the return on or before the last day of the first
required estimated tax payments.
month following the close of the tax year.
For Tax Help: (406) 444-6900 or TDD (406) 444-2830.
Instructions for Form ESW
Complete Form ESW to ensure your 2005 estimated tax is
b. Enter any 2004 overpayment carried to 2003 that was not
as accurate as possible to avoid penalties.
refunded to you.
c. If you qualify for the Elderly Homeowner/Renter Credit
You may use your 2004 Montana tax liability to estimate
(Form 2EC), enter the anticipated amount of credit. If this
your 2005 tax. If you choose this method, skip lines 1
credit was claimed in 2004, you may want to use the same
through 6 and enter your 2004 tax liability (line 54 of Form 2
figures if no major changes in 2005 income are expected.
or line 31 of Form 2S) on line 7 on Form ESW.
Line 9. Subtract 2005 withholding and credits on line 8 from
Line 1. Enter your calculated 2005 Montana adjusted
your estimated 2005 tax liability on line 7. If less than $500,
gross income. Montana adjusted gross income is your
you are not required to make estimated tax payments. If
2005 Federal adjusted gross income plus or minus any
$500 or more, subtract line 8 from line 7 to determine the
Montana adjustments to income.
total amount you must pay. Enter this amount on line 9 and
Line 2-4. Enter information and calculate, as stated.
complete the remainder of the worksheet.
Line 5. Enter your calculated 2005 credits against tax.
Lines 10, 11 and 12. Calculate your payments for each
Examples are credit for elderly care, college contribution
installment. If your tax situation changes, each succeeding
credit and tax paid to other states.
installment must be proportionally changed so that the
Line 8.
balance of the estimated payment requirement is paid in
a. Use your 2005 paycheck or pension check stubs
equal installments over the remaining period.
received to date to estimate your total 2004 withholding.
You may also include Montana state tax paid on your
If the installment due date falls on a holiday, payment is due
behalf by a pass-through entity.
on the next working day.
Mail to: Department of Revenue, PO Box 6308, Helena, MT 59604-6308
Tax Table
If Taxable
But not
If Taxable
But not
Income is Over
Over
Multiply by and Subtract = Tax
Income is Over
Over
Multiply by and Subtract = Tax
$ 0
.........
......
$18,400 .......... $22,900 .............. X 7% ...... $ 483
$
0
$ 2,300 X 2%
.........
......
$ 23
$22,900 .......... $32,100 .............. X 8% ...... $ 712
$ 2,300
$ 4,600 X 3%
.........
......
$ 69
$32,100 .......... $45,900 .............. X 9% ...... $1,033
$ 4,600
$ 9,200 X 4%
......
$161
$ 9,200
.........
$13,800 X 5%
$45,900 .......... $80,300 .............. X 10%.... $1,492
......
$299
$13,800
.........
$18,400 X 6%
$80,300 .......................................... X 11% .... $2,295
Example = taxable income $2,400 x 3% (.03) = $72 subtract $23 = $49 tax
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