Schedule 38-Ut - Calculation Of Interest On Underpayment Or Late Payment Of Estimated Income Tax For Estates And Trusts - 2013

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Schedule
North Dakota Offi ce of State Tax Commissioner
38-UT
2013
Calculation of interest on underpayment
or late payment of estimated income tax
Attach to Form 38
for estates and trusts
Name of estate or trust shown on Form 38
Estate’s or trust’s FEIN
►IMPORTANT:
Read the instructions on the reverse side before attempting to complete this form.
Do not complete this form unless the estate or trust was required to pay estimated federal income tax for the
2013 tax year. See “Federal estimated income tax requirement” in General Instructions.
Part 1 - Exceptions to regular computation of underpayment
See the instructions for a description of each of the exceptions listed below. If one of them applies, fi ll in the applicable circle,
complete Parts 2 and 3 as instructed, and attach Schedule 38-UT to Form 38.
A.
Qualifi ed farmer exception
C.
Federal 4th quarter exception
B.
Federal annualized income installment method
D.
Part-year North Dakota exception
exception (Attach copy of Form 2210)
Part 2 - Computation of underpayment
1 Enter 2013 net tax liability (from 2013 Form 38, page 1, line 4) .............................................................
1 _________________
2 Multiply line 1 by 90% (.90) [or 66 2/3% (.6667) if a qualifi ed farmer] ..................
2 _______________
3 Enter 2013 withholding (from 2013 Form 38, page 1, line 8) ..................................................................
3 _________________
4 Subtract line 3 from line 1. If less than $1,000, stop; there is no requirement to pay estimated tax
for 2013 .......................................................................................................................................
4 _________________
5 Enter 2012 net tax liability (from 2012 Form 38, page 1, line 4). If no return was required to be fi led for
2012, enter -0-. If less than $1,000, stop; there is no requirement to pay estimated tax for 2013
5 _________________
6 Total required payment. Enter smaller of line 2 or line 5. However, if the estate or trust was not in existence
for the entire 2012 tax year, fi ll in this circle 
and enter the amount from line 2 above .........................
6 _________________
If one of the exceptions in Part 1 applies, see
Payment due date
the instructions to line 7 before completing
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
the rest of this form.
April 15, 2013 June 15, 2013 Sept. 15, 2013 Jan. 15, 2014
7 Enter 25% of the amount on line 6 in each column (or, if an exception
in Part 1 applies, enter the amount per instructions to line 7) ..........
7 ___________ ___________ ___________ ___________
8 Enter estimated tax paid and tax withheld (See instructions)...........
8 ___________ ___________ ___________ ___________
Complete lines 9 through 15 of one column
before going to next column.
9 Enter amount, if any, from line 13 of previous column ....................
9
___________ ___________ ___________
10 Total paid. Add lines 8 and 9 .......................................................
10 ___________ ___________ ___________ ___________
11 Add lines 14 and 15 of previous column and enter result ................
11
___________ ___________ ___________
12 Overpayment. If line 10 is greater than line 7, subtract line 7 from
line 10 and enter result. Otherwise, enter -0- ................................
12 ___________ ___________ ___________ ___________
13 Overpayment carryover. If line 12 is greater than line 11, subtract
line 11 from line 12 and enter result. Otherwise, enter -0- ..............
13 ___________ ___________ ___________ ___________
14 Underpayment carryover. If line 11 is greater than line 12, subtract
line 12 from line 11 and enter result. Otherwise, enter -0- ..............
14
___________ ___________
15 Underpayment. If line 7 is greater than line 10, subtract line 10
from line 7 and enter result. Otherwise, enter -0- ..........................
15 ___________ ___________ ___________ ___________
Part 3 - Computation of interest (See instructions)
16 Interest computation:
a Enter date of payment (See instructions) ................................. 16a ___________ ___________ ___________ ___________
b Enter number of days from the payment due date to the date
on line 16(a) ........................................................................ 16b ___________ ___________ ___________ ___________
c Divide line 16(b) by 365 and round to three decimal places ........ 16c ___________ ___________ ___________ ___________
d Multiply line 16(c) by 12% (.12) and round to three
decimal places ...................................................................... 16d ___________ ___________ ___________ ___________
e Multiply line 15 by line 16(d) and enter result ........................... 16e ___________ ___________ ___________ ___________
17 Total interest. Add the amounts in all four columns on line 16(e). Enter result here
and on Form 38, page 1, line 17 (See instructions) ......................................................................................... 17 ___________

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