Schedule T Corporation And Partnership - Addition To The Tax For Failure To Pay Estimated Tax In Case Of Corporations And Partnerships

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Shedule T Corporation
ADDITION TO THE TAX FOR FAILURE TO PAY
ESTIMATED TAX IN CASE OF
and Partnership
200__
Rev. 05.03
CORPORATIONS AND PARTNERSHIPS
T
Taxable year beginning on __________, ____ and ending on __________, ____
Taxpayer's Name
Employer's Identification Number
Part I
Estimated Tax Required
00
1.
Tax liability (Add lines 13,14,17 and 19 of Part III, page 1 of the return) .....................................................................................
(1)
00
2.
Credits and overpayments (See instructions) .................................................................................................................................
(2)
00
3.
Estimated tax (Subtract line 2 from line 1. If it is zero or less, do not complete this Schedule) .....................................................
(3)
00
4.
Line 1 multiplied by 90% ................................................................................................................................................................
(4)
00
5.
Subtract line 2 from line 4 (If it is zero or less, enter zero) .............................................................................................................
(5)
00
6.
Tax to be paid based on the income tax return from previous year (See instructions) ....................................................................
(6)
7.
Tax to be paid based on the income tax return from previous year determined according to the rates
00
corresponding to the current taxable year (See instructions) ...........................................................................................................
(7)
00
8.
Enter the smaller of lines 5, 6 and 7..................................................................................................................................................
(8)
Section A - Estimated Tax to Be Paid per Installment Placing the Net Income on an Annual Basis
(a)
(b)
(c)
(d)
First ____
First ____
First ____
First ____
months
months
months
months
9.
Basis Period (See instructions) ............................................................
(9)
0 0
0 0
0 0
0 0
10.
Enter the net income for each basis period ..........................................
(10)
11.
Divide line 10 between the number of months of the basis
00
00
00
00
period on line 9 ....................................................................................
(11)
00
00
00
00
12.
Net income placed on an annual basis (Multiply line 11 by 12) ............
(12)
13.
Determine the normal tax on the net income placed on an
00
00
00
00
annual basis of line 12 (Line 12 by 20%) ............................................
(13)
14.
Determine the surtax on the net income placed on an
00
00
00
00
annual basis of line 12 .........................................................................
(14)
15.
Determine the recapture on the net income placed on an
00
00
00
00
annual basis of line 12 .........................................................................
(15)
16.
Enter the recapture of investment credit claimed in
00
00
00
00
excess or others ...................................................................................
(16)
17.
Determine the alternative minimum tax on the net income
00
00
00
00
placed on an annual basis of line 12 ....................................................
(17)
00
00
00
00
18.
Total annual basis tax (Add lines 13 through 17) ................................
(18)
00
00
00
00
19.
Multiply line 18 by 90% .....................................................................
(19)
0 0
0 0
0 0
0 0
20.
Enter the credits and other payments per period (See instructions) ......
(20)
21.
Estimated Tax to be Paid (Subtract line 20 from line 19. If it is
0 0
0 0
0 0
0 0
less than zero, enter zero) ...................................................................
(21)
22.
Add the amounts of all previous columns of line 29 (See
0 0
0 0
0 0
instructions) ........................................................................................
(22)
0 0
0 0
0 0
0 0
23.
Subtract line 22 from line 21 (If it is less than zero, enter zero) .........
(23)
4
3
2
1
24.
Number of installments .......................................................................
(24)
25.
Estimated Tax to be Paid per Installment Placing the Net Income
0 0
0 0
0 0
0 0
on an Annual Basis (Line 23 divided between line 24) ........................
(25)
Section B - Estimated Tax Required
00
00
00
00
26.
Subtract line 22 from line 8 .................................................................
(26)
4
3
2
1
Number of installments .......................................................................
27.
(27)
00
00
00
00
28.
Line 26 divided between line 27 ..........................................................
(28)
Installment of Required Minimum Estimated Tax (Enter the
29.
00
00
00
00
smaller of line 25 and line 28. Transfer to line 31) .............................
(29)
Conservation Period: Ten (10) years

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