Form Cit-Ut - Underpayment Of Estimated Tax By Corporation - 2014
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MonTAnA
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CLEAR FORM
CIT-UT
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Underpayment of 2014 Estimated Tax
Rev 04 14
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By Corporation
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/ 2 0 1 4
M M
/
D D
M M
/
D D
/
Y Y Y Y
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X X
X X
X X
X X
X X X X
8
For calendar year 2014 or tax year beginning
and ending
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-
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X X X X X X X X X
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Corporation Name ____________________________________________________ FEIN
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Part I
Figuring Your Underpayment. See instructions.
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100
1. Enter your Montana tax liability from Form CIT, page 3, line 10 .......................................................... 1.
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2. Enter your total credits from Form CIT, page 4, line 13 ....................................................................... 2.
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3. Subtract line 2 from line 1. If the result is less than $5,000, you do not need to complete the rest of
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this form because you do not owe the interest. Otherwise, go to line 4 .............................................. 3.
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4. a. Multiply line 3 by 80% and enter the result ..........................................................4a.
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b. Enter 100% of the Montana tax liability shown on your previous year’s CLT-4 ....4b.
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150
c. Enter the lesser of line 4a or 4b .....................................................................................................4c.
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A
B
C
D
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5. Enter in columns A through D the quarterly installment
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180
170
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160
due dates (the 15th day of the fourth, sixth, ninth, and
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twelfth months of your tax year) ...............................5.
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6. Multiply the amount in 4c by 25% and enter this
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amount in each column of line 6 unless you use the
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annualized income installment method and/or the
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adjusted seasonal installment method. If so, complete
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the worksheet in the instructions and enter the
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amount from line 41 of the worksheet in each column
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of line 6. Also, include a copy of the worksheet with
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q
this form and mark this box
. These are your
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200
required installments. ............................................6.
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Complete lines 7 through 14 for one column before completing the next column. See instructions.
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270
280
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250
7. Enter the amount paid or credited for each period ...7.
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300
290
310
8. Enter the amount, if any, from line 14 of the previous column ...........8.
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9. Add lines 7 and 8; enter the result ............................9.
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320
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10. Add the amounts on lines 12 and 13 of the previous column and
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370
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360
enter the result.................................................................................10.
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11. Subtract line 10 from line 9 and enter the result. If
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less than zero, enter zero ....................................... 11.
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12. If the amount on line 11 is zero, subtract line 9 from line 10 and enter
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the result. Otherwise, enter zero .....................................................12.
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13. If line 11 is less than or equal to line 6, subtract line
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11 from line 6 and enter the result. Then go to line 7
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480
490
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460
of the next column. Otherwise, go to line 14. This is
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your underpayment. .............................................13.
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14. If line 6 is less than line 11, subtract line 6 from line
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520
530
11 and enter the result. Then go to line 7 of the next
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500
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column. This is your overpayment. .....................14.
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Part II Figuring Your Underpayment Interest
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15. Enter the date of payment or the 15th day of the fifth
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month after the close of the tax year, whichever is
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earlier. .....................................................................15.
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590
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16. Enter the number of days from the installment due
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date on line 5 to the date shown on line 15. ...........16.
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17. Multiply line 13 by line 16. Multiply the result by 12%
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650
620
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and then divide the result by 365............................17.
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18. Add all amounts on line 17, columns A through D. Enter the result here and on Form CIT, page 4, line
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18. This is your total underpayment interest. ............................................................................... 18.
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