Form Mi-1040es - Michigan Estimated Income Tax For Individuals

General Instructions

Late payments or underpayment of estimates

Who must file estimated tax payments

If you fail to make required estimate payments, pay late

In general, you must make estimated income tax pay-

ments if you expect to owe more than $500 when you file

or underpay, Treasury may charge penalty and interest.

Penalty is 25 percent of the tax due for failing to file

your 2002 MI-1040 return.

estimated payments, or 10 percent for failing to pay

If you owe more than $500 you may not have to make

enough with your estimates. Interest is 1 percent above

estimate payments if you expect your 2002 withholding

the prime rate and is computed monthly. The rate is

to be at least:

adjusted on July 1 and January 1.

• 90 percent of your total 2002 tax (qualified farmers,

fishermen and seafarers use 66 2/3 percent),

When your income changes during the year

• 100 percent of your 2001 taxes, or

If you are already paying estimates, amend your esti-

mate payment on the next installment.

• 112 percent of your total 2001 tax if your 2001 AGI

is more than $150,000 ($75,000 for married, filing

If you are not already paying estimates, use the follow-

separately).

ing chart to see which period the tax is due.

Total 2001 tax is the amount on your 2001 MI-1040, line

If the change occurs:

Pay on or before:

27, less the sum of your tax credits on lines 30 and 31.

Jan. 1 through March 31 ......... April 15, 2002

Estimated tax payments are not needed if two-thirds of

April 1 through May 31 ........... June 17, 2002

your gross income is from farming, fishing or seafaring

June 1 through Aug. 31 ........... Sept. 16, 2002

and you meet the qualifications.

Sept. 1 through Dec. 31 ............ Jan. 15, 2003

Estimate filing requirements apply whether or not you

If you do not want to amend your fourth installment

are a Michigan resident.

voucher, you may file your 2002 income tax return

Due dates of payments

before January 31, 2003 instead. If you decide to do

You may pay in full with the first estimate voucher due

this, you do not have to file the fourth voucher (due

April 15, 2002. You may also pay in equal installments

January 15, 2003). If you were not paying estimates but

due on or before April 15, 2002, June 17, 2002,

a change occurs between September 1 and December

September 16, 2002 and January 15, 2003.

31 that requires you to file estimates, you may file your

Note: You will not receive reminder notices; save this

2002 MI-1040 return by January 31, 2003 instead of

formset for all your 2002 payments.

filing an MI-1040ES.

How to use these forms

Estimated tax payments for

farmers, fishermen or seafarers

If you made estimated payments last year, Treasury will

send you personalized forms. Use the personalized

If at least two-thirds of your gross income is from

forms whether you fill them out yourself or get help

farming, fishing or seafaring, you may:

from a tax preparer. Your name(s) and Social Security

• File your first 2002 voucher on or before January 15,

number(s) are preprinted on these MI-1040ES vouchers.

2003 and pay the entire amount of the estimated tax

Personalized forms shorten the processing time of your

due, or

payment and reduce the chance of an error in your

• File your 2002 MI-1040 return on or before March 3,

account. DO NOT USE OTHER TAXPAYERS'

2003 and pay the entire tax with the return.

VOUCHERS OR PHOTOCOPY THEIR FORMS. If

If you choose either of these, you do not need to pay

you do, your payments could be applied to the wrong

estimate payments.

account. If you lose a form or have not made estimated

payments before, call 1-800-FORM-2-ME (367-6263)

Fiscal year filers

for a blank form.

Adjust all dates to correspond with your fiscal year. The

first installment payment is due on the 15th day of the

Where to mail your payment

fourth month after your fiscal year ends. (Example: If

Make your check payable to “State of Michigan.” Send

your year ends March 30, your first payment is due

your voucher and check to:

July 15.)

Michigan Department of Treasury

Visit our Treasury Web site at:

Lansing, MI 48929

Write your Social Security number(s) and “2002

MI-1040ES” on the front of the check. Return it with the

MI-1040ES form for that installment. Do not staple

your check to the form.

Form Mi-1040es - Michigan Estimated Income Tax For Individuals - 2002 Page 2

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