Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2017 Page 5
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Form 990-W (Worksheet) 2017
2017 Tax Rate Schedule for Trusts
If no apportionment plan is adopted, the members of the controlled group
must divide the amount in each taxable income bracket equally among
If the amount on
themselves. For example, controlled group AB consists of corporation A and
Form 990-W,
corporation B. They do not elect an apportionment plan. As a result, each
line 1, is:
Of the
corporation is entitled to $25,000 (one-half of $50,000) in the $50,000 taxable
But not
Enter on
amount
income bracket, $12,500 (one-half of $25,000) in the $25,000 taxable income
Over—
over—
line 2:
over—
bracket, and $4,962,500 (one-half of $9,925,000) in the $9,925,000 taxable
income bracket.
$0.00
$2,550
15%
$0.00
Members of a controlled group may elect an unequal apportionment plan
2,550
6,000
$382.50 + 25%
2,550
and divide the amounts in each taxable income bracket in any way they
6,000
9,150
1,245 + 28%
6,000
want. They need not divide each taxable income bracket in the same way.
For example, if controlled group AB elects an unequal apportionment plan,
9,150
12,500
2,127 + 33%
9,150
any member of the controlled group may be entitled to all, some, or none of
------
12,500
3,232.50 + 39.6%
12,500
the $50,000 amount in the first taxable income bracket, as long as the total
Line 3
for all members of the controlled group is not more than $50,000. Similarly,
any member may be entitled to all, some, or none of the $25,000 amount in
Alternative minimum tax (AMT) is generally the excess of tentative minimum
the second taxable income bracket, and all, some, or none of the $9,925,000
tax over regular tax. Corporations, see Form 4626, Alternative Minimum
amount in the third taxable income bracket, as long as the total in each
Tax—Corporations, for details. Trusts, see Schedule I (Form 1041),
bracket for all members of the controlled group is not more than that bracket
Alternative Minimum Tax—Estates and Trusts.
amount.
Line 5
Members of a controlled group are treated as one corporation to figure the
additional 5% tax that must be paid by corporations with taxable income in
The estimated tax credits include the sum of any credits allowable against
excess of $100,000 and the additional 3% tax that must be paid by
unrelated business income tax (except the credits reported on line 9). See
corporations with taxable income in excess of $15 million. The additional tax,
Form 990-T and its instructions for information on the credits that may be
if applicable, will be apportioned among the members of the controlled group
taken.
in the same manner as the regular tax brackets earlier. See section 1561(a).
Each member must enter its share of the additional 5% tax on the 2017 Tax
Line 7
Computation for Corporations worksheet, line 12, and its share of the 3% tax
on the 2017 Tax Computation for Corporations worksheet, line 13.
Other taxes include the sum of any recaptured tax credits. See Form 990-T
and its instructions for information on recapture of tax credits that must be
included on this line.
2017 Tax Computation for Corporations
Line 9
1. Enter taxable income (Form 990-W, line 1)
1
Complete Form 4136, Credit for Federal Tax Paid on Fuels, if the
2. Enter the smaller of line 1 or $50,000. Members
organization qualifies to take this credit. Also include on line 9 any credit the
of a controlled group, see instructions .
.
.
2
organization is claiming under section 4682(g)(2) for taxes paid on chemicals
used as propellants in metered-dose inhalers.
3. Subtract line 2 from line 1 .
.
.
.
.
.
3
Line 10a
4. Enter the smaller of line 3 or $25,000. Members
of a controlled group, see instructions .
.
.
4
Subtract line 9 from line 8. Private foundations figure the estimated tax by
multiplying their estimated net investment income by the tax rate (1% or 2%,
5. Subtract line 4 from line 3 .
.
.
.
.
.
5
whichever applies). Taxable private foundations and nonexempt charitable
6. Enter the smaller of line 5 or $9,925,000.
trusts treated as private foundations, see O. Figuring and Paying Estimated
Tax and Part VI. Excise Tax Based on Investment Income (Section 4940(a),
Members
of
a
controlled
group,
see
4940(b), 4940(e), or 4948), in the Instructions for Form 990-PF, for help in
instructions
.
.
.
.
.
.
.
.
.
.
6
figuring the estimated tax. Enter that amount on line 10a. See Form 990-PF,
Part VI.
7. Subtract line 6 from line 5 .
.
.
.
.
.
7
Note: If less than $500, the organization is not required to make estimated
8. Enter 15% (0.15) of line 2 .
.
.
.
.
.
8
tax payments.
9. Enter 25% (0.25) of line 4 .
9
.
.
.
.
.
Line 10b
10. Enter 34% (0.34) of line 6 .
.
.
.
.
.
10
Figure the organization’s 2016 tax the same way you figured line 10a, using
11. Enter 35% (0.35) of line 7 .
.
.
.
.
.
11
the taxes and credits from your 2016 tax return. If you did not file a return
12. If line 1 is greater than $100,000, enter the
showing a liability for at least some amount of tax for the 2016 tax year, or if
your 2016 tax year was less than 12 months, do not complete this line.
smaller
of 5% (0.05) of the excess over
Instead, enter the amount from line 10a on line 10c. “Large organizations”
$100,000
or
$11,750.
Members
of
a
see the instructions for line 12 below.
controlled group, see instructions .
.
.
.
12
Line 11
13. If line 1 is greater than $15 million, enter the
Calendar year taxpayers. Enter 4-17-2017 (5-15-2017 for private
smaller of 3% (0.03) of the excess over $15
foundations), 6-15-2017, 9-15-2017, and 12-15-2017, respectively, in
million or $100,000. Members of a controlled
columns (a) through (d).
group, see instructions .
.
.
.
.
.
.
Fiscal year taxpayers. Enter the 15th day of the 4th (5th for private
13
foundations), 6th, 9th, and 12th months of your tax year in columns (a)
14. Add lines 8 through 13. Enter this amount on
through (d).
Form 990-W, line 2 .
.
.
.
.
.
.
.
14
If any date falls on a Saturday, Sunday, or legal holiday, substitute the next
business day.
Line 2—Trusts
Line 12
Trusts exempt under section 501(a) and trusts that qualify under section
401(a) are taxed at trust rates. A trust figures the tax on the amount on line 1
Annualized income installment method and/or adjusted seasonal
using the 2017 Tax Rate Schedule for Trusts (below). If you expect a net
installment method. If the organization’s income is expected to vary during
long-term capital gain and a net capital gain, you may use the 2017 Tax
the year because, for example, it operates its business on a seasonal basis, it
Computation Worksheet Using Maximum Capital Gains Rates found in Form
may be able to lower the amount of one or more required installments by
1041-ES.
using the annualized income installment method and/or the adjusted
seasonal installment method. For example, a shop operated by a museum,
which because of its location in an area frequented by tourists receives most
of its income during the summer months, may be able to benefit from using
one or both of these methods in figuring one or more of its required
installments.
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