Form 1040n-Es - Nebraska Individual Estimated Income Tax Payment Voucher - 2014 Page 4
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8Nebraska Individual Estimated
FORM 1040N-ES
2014
Income Tax Worksheet
Worksheet
1 Estimated federal adjusted gross income (AGI) ............................................................................................... 1
2 Estimated federal itemized deductions (line 29, Federal Form 1040, Schedule A) ..
2
3 State and local income taxes (line 5, Schedule A) ...................................................
3
4 Nebraska itemized deductions (line 2 minus line 3) .................................................
4
5 Standard deduction (enter Nebraska standard deduction amount):
Single $6,200;
Married, Filing Jointly $12,400;
Head of Household $9,100;
Married, Filing Separately $6,200; or
5
65 or older and/or blind (see reverse side). ..........................................................
6 Enter the greater of line 4 or line 5 ....................................................................................................................
6
7 Estimated Nebraska income before adjustments (line 1 minus line 6) .............................................................
7
8 Estimated Nebraska adjustments increasing federal AGI (including non-Nebraska state and municipal
bond interest) ...................................................................................................................................................
8
9 Estimated Nebraska adjustments decreasing federal AGI (including federal bond interest) ...........................
9
10 Estimated Nebraska taxable income (line 7 plus line 8, minus line 9) ............................................................. 10
11 Estimated Nebraska income tax amount on line 10 (See 2014 Nebr. Estimated Tax Rate Schedule included
in this booklet.) If AGI is above $254,200 (single), $305,050 (married, filing jointly), $152,525 (married,
filing separately), or $279,650 (head of household), enter the amount from line 3 of Worksheet A ................. 11
12 Estimated Nebraska other taxes (total of taxes from Federal Forms 4972 and 5329; multiplied by .296) ........ 12
13 Total estimated Nebraska tax (total of lines 11 and 12) ................................................................................... 13
14 Estimated Nebraska credits including:
For full year residents –
Credit for tax paid to another state.
For residents and partial-year residents –
Refundable and nonrefundable credits for child and dependent care expense,
Earned income credit,
Credit for the elderly or the disabled, and
Angel Investment Tax Credit.
For all taxpayers –
Personal exemption credit,
Community Development Assistance Act credit,
Beginning Farmer Tax Credit,
Form 3800N credit, and
Financial institution tax credit. ....................................................................................................................... 14
15 Nebraska 2014 estimated income tax (line 13 minus line 14). If zero or less, enter -0- .................................... 15
16 a Multiply line 15 by 90% (66
% if engaged in farming or fishing) ......................... 16a
2/3
b Enter the tax shown on your 2013 tax return (110% of that amount if you are
not engaged in farming or fishing and the AGI shown on that return is more
than $150,000; ($75,000 if your filing status for 2014 is married, filing separately)
16b
c Required annual payment to avoid a penalty. Enter the smaller of line 16a or 16b .............................. 16c
Caution: If you do not prepay (through income tax withholding and estimated tax payments)
at least the amount on line 16c, you may owe a penalty for not paying enough estimated tax. To avoid a
penalty, make sure your estimate on line 15 is as accurate as possible. Even if you pay the required
annual payment, you may still owe tax when you file your return. You must also make timely estimated
payments to avoid underpayment penalties. If you prefer, you can pay the amount shown on line 15.
17 Income tax withheld and estimated to be withheld during 2014 (including income tax withholding on
pensions, annuities, certain deferred income, etc.) ........................................................................................... 17
18 Subtract line 17 from line 16c. (Note: If the result is zero or less, or line 15 minus line 17 is less than $500,
stop here. You are not required to make estimated tax payments.) ................................................................... 18
19 COMPUTATION OF INSTALLMENTS
If the first payment you are required to make is due to be filed on:
• April 15, 2014, enter ¼ of the amount on line 18 here and on line 2 of Payment Vouchers 1, 2, 3, and 4;
• June 16, 2014, enter ½ of the amount on line 18 here and on line 2 of Payment Voucher 2.
Also, enter ¼ of the amount on line 18 and on Vouchers 3 and 4;
• September 15, 2014, enter ¾ of the amount on line 18 here and on line 2 of Payment Voucher 3.
Also, enter ¼ of the amount on line 18 and on line 2 of Payment Voucher 4;
• January 15, 2015, enter the amount on line 18 here and on line 2 of Payment Voucher 4.
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Retain a copy for your records. Do not file the amended computation schedule on the reverse side.
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