California Form 541-Es - Estimated Tax For Fiduciaries - 2011
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32011 Instructions for Form 541-ES
Estimated Tax For Fiduciaries
General Information
If the estate or trust must make estimated tax
Mental Health Services Tax Worksheet
payments, use the Estimated Tax Worksheet on
Use whole dollars only.
Installment Payments. Installments due shall
the next page to figure the amount owed.
be thirty percent of the required annual payment
A. Taxable income from Form 541
Real Estate Mortgage Investment Conduit
for the 1st required installment, forty percent of
line 20. . . . . . . . . . . . . . . . . .
(REMIC) trusts are not required to make
the required annual payment for the 2nd required
estimated payments.
installment, no installment is due for the 3rd
B. ESBT taxable income . . . . . .
required installment and thirty percent of the
Tax-exempt trusts and nonexempt charitable
C. Add line A and line B. . . . . . .
required annual payment for the 4th required
trusts described in IRC Section 4947(a)(1) should
installment.
use Form 100-ES, Corporation Estimated Tax.
D. Less . . . . . . . . . . . . . . . . . . .
$(1,000,000)
Estates and trusts with a tax liability less
E. Subtotal . . . . . . . . . . . . . . . .
C When to Make Estimated Tax
than $500 do not need to make estimated tax
F. Multiply line E by 1% . . . . . .
x .01
Payments
payments.
G. Mental Health Services Tax –
For estimated tax purposes, the year is divided
A Purpose
Enter this amount on line 10
into four payment periods. Each period has a
of the 2011 Estimated Tax
Use Form 541-ES, Estimated Tax For Fiduciaries,
specific payment due date. If an estate or trust
Worksheet on the next page
to figure and pay estimated tax for an estate
does not pay enough tax by the due date of each
or trust. Estimated tax is the amount of tax the
D How to Use Form 541-ES
payment, it may be charged a penalty even if it is
fiduciary of an estate or trust expects to owe for
due a refund when it files its income tax return.
Use the Estimated Tax Worksheet on the next
the year.
The payment due dates are:
page and the 2010 Form 541 tax return as a guide
Estimated tax payment:
Due date is:
B Who Must Make Estimated
for figuring the 2011 estimated tax payment.
1st Payment
April 15, 2011*
Tax Payments
There is a separate payment form for each due
2nd Payment
June 15, 2011
date. Use the form with the correct due date.
3rd Payment
September 15, 2011
Generally, a fiduciary of an estate or trust must
4th Payment
January 17, 2012
Fill in Form 541-ES:
make 2011 estimated tax payments if the estate
*Due to the federal Emancipation Day holiday on
1. Using black or blue ink, print the estate’s or
or trust expects to owe at least $500 in tax for
April 15, 2011, tax returns filed and payments
2011 (after subtracting withholding and credits).
trust’s name, the fiduciary’s name and title,
received on April 18, 2011, will be considered
mailing address, and the estate’s or trust’s
A fiduciary of an estate or trust is not required to
timely.
federal employer identification number (FEIN)
make 2011 estimated tax payments if one of the
Filing an Early Tax Return in Place of the 4th
in the space provided on Form 541-ES. Print all
following applies:
Installment. If an estate or trust files its 2011 tax
names and words in CAPITAL LETTERS. If the
• 100% of the tax shown on the 2010 tax return
return by January 31, 2012, and pays the entire
estate’s or trust’s name or address is too long
including alternative minimum tax (AMT) was
balance due, it does not have to make its last
to fit in the provided spaces, do not shorten the
paid by withholding.
estimated tax payment.
name or address. Instead, ignore the combed
• 90% of the tax shown on the 2011 tax return
lines and fit the information in the space
Annualization Option. If the estate or trust does
will be paid by withholding.
provided.
not receive its taxable income evenly during the
• It is a decedent’s estate for any taxable year
year, it may be to its advantage to annualize the
Include the Private Mail Box (PMB) in the
ending before the date that is two years after
income. This method allows matching estimated
address field. Write “PMB” first, then the box
the decedent’s death.
tax payments to the actual period when income
number. Example: 111 Main Street PMB 123.
• It is a trust that was treated as owned by
was earned. Use the annualization schedule
the decedent and if the trust will receive the
2. Enter on the payment line of the form only the
included with 2010 form FTB 5805, Underpayment
amount of the current payment. When making
residue of the decedent’s estate under the will
of Estimated Tax by Individuals and Fiduciaries.
(or if no will is admitted to probate, the trust is
payments of estimated tax, be sure to take into
Farmers and Fishermen. If at least 2/3 of gross
account any previous year’s overpayment to
primarily responsible for paying debts, taxes,
income for 2010 or 2011 is from farming or
be credited against the current year’s tax, but
and expenses of administration) for any taxable
fishing, the estate or trust may apply one of the
year ending before the date that is two years
do not include the overpayment amount in the
following:
payment amount.
after the decedent’s death.
• Pay the total estimated tax by January 17, 2012.
Required Annual Estimated Tax Payment
3. If part of the estimated tax is to be allocated
• File Form 541, California Fiduciary Income Tax
to the beneficiaries per IRC Section 643(g),
Adjusted Gross Income (AGI) $50,000 or less.
Return, for 2011 on or before March 1, 2012,
enclose a copy of Form 541-T, California
Estates and trusts required to make estimated tax
and pay the total tax due. In this case,
Allocation of Estimated Tax Payments for
payments and whose 2010 AGI is $150,000 or
estimated tax payments are not due for 2011.
Beneficiaries, to Form 541-ES.
less, must figure their estimated tax based on the
Enclose form FTB 5805F, Underpayment of
lesser of 100% of the tax for 2010 or 90% of the
4. Using black or blue ink, make a check or money
Estimated Tax by Farmers and Fishermen, with
order payable to the “Franchise Tax Board.”
tax for 2011, including AMT. This rule does not
Form 541.
apply to farmers or fishermen.
Write the FEIN and “2011 Form 541-ES” on
Fiscal Year Filers. If the estate or trust files
the check or money order. Enclose, but do not
AGI greater than $50,000. Estates and trusts
on a fiscal year basis, the due dates will be the
staple the payment with Form 541-ES and mail
required to make estimated tax payments and
15th day of the 4th, 6th, and 9th months of the
to:
whose 2010 AGI is more than $150,000 must
fiscal year and the first month of the following
FRANCHISE TAX BOARD
figure their estimated tax based on the lesser of
fiscal year. When the due date falls on a weekend
110% of the tax for 2010 or 90% of the tax for
PO BOX 942867
or holiday, the deadline to file and pay without
SACRAMENTO CA 94267-0031
2011, including AMT. This rule does not apply to
penalty is extended to the next business day.
farmers or fishermen.
Make all checks or money orders payable in
Mental Health Services Tax. If the estate’s or
U.S. dollars and drawn against a U.S. financial
AGI $,000,000 or more. Estates and trusts with
trust’s taxable income is more than $1,000,000,
institution.
a 2011 AGI equal to or greater than $1,000,000
compute the Mental Health Services Tax. Income
must figure their estimated tax based on 90%
5. Keep a record of the payment.
from an Electing Small Business Trust (ESBT) is
of the tax for 2011. This rule does not apply to
also subject to the Mental Health Services Tax.
6. Fiscal year filers: Fill in the month and
farmers or fishermen.
year-end information at the top of the form.
Form 541-ES Instructions 2010 (REV 09-11) Page
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