Form 1-Es - Estimated Tax Payment - Massachusetts Department Of Revenue (Page 3 of 7) in pdf

Estimated Tax Worksheet.

Explanations of your deductions, exemptions and credits appear in the tax form instructions.

Note: If first voucher is due on April 15, 2017, June 15, 2017, September 15, 2017, or January 15, 2018, enter 25%, 33%, 50% or 100%, respectively,

of line 11b (less any overpayment that you are applying to this installment) on line 12 of the worksheet and on line 1 of your payment voucher.

a. Taxable

income

Tax rate

Amount

01. Taxable 5.1% income* (after deductions and exemptions) . . . . . . . . . . . . . . . . . . . . 1

9x .051

02. Taxable 12% income (after exemptions, if any). 12% income includes any income

associated with short-term capital gains and long-term gains on collectibles or

pre-1996 installment sales. See note above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

x .12

03. Taxable long-term capital gain income (after deductions and

exemptions, if any). Long-term capital gain income includes

any income associated with long-term capital gains excluding

collectibles or pre-1996 installment sales. See note above . . . . . . . . . . . . . . . . . . . . 3

9x .051

04. Total tax. Add col. b of lines 1 through 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

05. Limited Income Credit (if any) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

06. Other credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

07. Total credits. Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

08. Your estimate of 2017 income tax. Subtract line 7 from line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

09. Amount of this tax expected to be withheld during 2017 (include any withholding made on your behalf by a pass-through entity) 9

10. 2016 overpayment applied to 2017 estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

11. Estimated tax for 2017. Subtract the total of lines 9 and 10 from line 8. If less than $400 you are not required to make

estimated payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12. Amount of payment. See note above. Using the amount from line 11, make appropriate calculation and enter result

here and on line 1 of your payment voucher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12

*5.1% income includes: wages, salaries, tips, business income, partnership and S corporation income, trust income, rental income, unemployment

compensation, alimony, pensions and annuity income, IRA/Keogh distributions, winnings, fees, long-term capital gain income not taxed at the 12% rate,

interest and dividend income and other taxable income not taxed at the 12% rate.

Amended Computation Worksheet.

Use if your estimated tax changes substantially after you file your first payment voucher.

1. a Amended estimated tax on 5.1% income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a

b Amended estimated tax on 12% income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b

c Amended estimated tax on long-term capital gain income taxed at 5.1% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c

d Total amended estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1d

2. a Amount of last year’s overpayment elected for credit to 2017 estimated tax and applied to date. . . . . . . . . . . . . . . . . . . . . . 2a

b Payments made on 2017 vouchers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b

c Limited Income Credit (if any) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c

d Other credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2d

e Amount of this tax expected to be withheld during 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e

f Add lines 2a through 2e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2f

3. Unpaid balance. Subtract line 2f from line 1d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4. Amount to be paid. Divide line 3 by number of remaining installments. Enter here and on line 1 of payment voucher. . . . . . . . . 4

Please submit the enclosed vouchers, with your payments, when due. Make all checks payable to Commonwealth of Massachusetts and write your

Social Security number in the lower left corner on each check.

2017 Record of Estimated Tax Payments.

Please mark your calendar as a reminder to mail each payment voucher.

Total amount paid and

2016 overpayment

credited from Jan. 1 through

Voucher

credit applied to

the installment date shown.

number

Date

Amount paid

installment

Add b and c

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If you have any questions, contact the Massachusetts Department of Revenue, Contact Center Bureau, PO Box 7010, Boston, MA 02204. Telephone: (617) 887-6367 or toll-free

in-state at 1-800-392-6089. Practitioners: You must obtain prior approval if you plan to use substitute vouchers.