Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2017 Page 7
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Form 990-W (Worksheet) 2017
Line 30
Tax-exempt corporations that are not exempt from the alternative
minimum tax figure the tax by first computing alternative minimum taxable
For the same taxes used to figure Form 990-W, lines 3 and 7, figure the
income under section 55, based on the corporation’s income and deductions
amounts for the months shown in the column headings above line 14.
for the annualization period entered in each column on line 1. Then multiply
the alternative minimum taxable income by the annualization amounts (line 3)
Tax-exempt corporations that are not exempt from the alternative
used to figure annualized taxable income. Subtract the exemption amount
minimum tax figure the tax by first computing alternative minimum taxable
under section 55(d).
income under section 55, based on the organization’s income and
deductions during the months shown in the column headings above Part II,
Line 8
line 14. Divide the alternative minimum taxable income by the amounts
shown on line 21. Subtract the exemption amount under section 55(d). For
Enter the credits to which the organization is entitled for the months shown in
columns (a) through (c) only, multiply the alternative minimum tax by the
each column on line 1.
amounts shown on line 28.
Line 12
Line 32
In column (b), enter the amount from Part III, line 40, column (a). In column
Enter the credits to which you are entitled because of events that occurred
(c), enter the sum of the amounts in line 40, columns (a) and (b). In column
during the months shown in the column headings above Part II, line 14.
(d), enter the sum of the amounts in line 40, columns (a), (b), and (c).
Line 34
Part II—Adjusted Seasonal Installment Method
In column (b), enter the amount from Part III, line 40, column (a). In column
The adjusted seasonal installment method is used by organizations that
(c), enter the sum of the amounts in line 40, columns (a) and (b). In column
normally receive their taxable income on a seasonal basis. Therefore, Part II
(d), enter the sum of the amounts in line 40, columns (a), (b), and (c).
is only used by organizations whose “base period percentage” for any 6
consecutive months equals or exceeds 70% (0.70). Figure the base period
percentage using the 6-month period in which the organization normally
Paperwork Reduction Act Notice. This form is optional. It is provided only
receives the largest part of its taxable income. Divide the taxable income for
to help you determine your estimated tax liability.
the corresponding 6-month period in each of the 3 preceding tax years by
You are not required to provide the information requested on a form that is
the taxable income for each of these years. The following example illustrates
subject to the Paperwork Reduction Act unless the form displays a valid
the computation.
OMB control number. Books or records relating to a form or its instructions
Example. A tax-exempt organization that has a calendar year as its tax year
must be retained as long as their contents may become material in the
receives the largest part of its unrelated business taxable income during the
administration of any Internal Revenue law. Generally, tax returns and return
6-month period from May through October. To figure its base period
information are confidential, as required by section 6103.
percentage for the period May through October 2017, the organization must
The time needed to complete this form will vary depending on individual
figure its taxable income for the period May through October in each of the
circumstances. The estimated average times are:
years 2014, 2015, and 2016. The taxable income for each May-through-
October period is then divided by the total taxable income for the tax year in
Form
Recordkeeping
Learning
Preparing
which the period is included, resulting in the following: 69% for May through
about the law
the form
October 2014, 74% for May through October 2015, and 67% for May
or the form
through October 2016. The average of 69%, 74%, and 67% is 70%.
Therefore, the base period percentage for May through October 2017 is 70%
Form 990-W
10 hr., 2 min.
2 hr., 22 min.
2 hr., 39 min.
and the organization qualifies for the adjusted seasonal installment method.
Form 990-W, Sch. A (Pt. I)
11 hr., 14 min.
42 min.
54 min.
Line 15
Form 990-W, Sch. A (Pt. II) 25 hr., 6 min.
12 min.
36 min.
If the corporation has certain extraordinary items, special rules apply. See
Form 990-W, Sch. A (Pt. III)
4 hr., 32 min.
6 min.
10 min.
Extraordinary items, earlier. In general, extraordinary items are not included
If you have comments concerning the accuracy of these time estimates or
on line 15, except for certain de minimis items at the option of the
suggestions for making this form simpler, we would be happy to hear from
corporation. See De minimis rule, earlier.
you. You can write to:
Line 22b
Internal Revenue Service
Tax Forms and Publications Division
Include on line 22b extraordinary items of $1 million or more, a net operating
1111 Constitution Ave., NW, IR-6526
loss deduction, or a section 481(a) adjustment. See Extraordinary items,
Washington, DC 20224
earlier. Also include any de minimis items that the corporation does not
Do not send the form to this address. Instead, keep the form for your
choose to include on line 15. See De minimis rule, earlier.
records.
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