Schedule 38-Ut - Calculation Of Interest On Underpayment Or Late Payment Of Estimated Income Tax For Estates And Trusts - 2013 Page 2
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1
2North Dakota Offi ce of State Tax Commissioner
2013 Schedule 38-UT instructions
General instructions
Instructions for Part 2
Instructions for Part 3
A fi duciary for an estate or trust may use
Interest of 12% per year is charged on an
Line 7
Schedule 38-UT to determine if enough
underpayment or late payment of estimated
If one of the exceptions in Part 1 applies,
estimated North Dakota income tax was
tax. Interest accrues from the due date of the
enter on this line the appropriate amount(s) as
paid by the payment due dates and, if not, to
payment to the earlier of April 15, 2014, or
follows:
calculate the amount of interest to pay on the
the date the estimated tax due is paid in full.
underpayment or late payment. The dates used
In the case where an overpayment is applied
Item A
• If
applies, enter the amount from
on Schedule 38-UT and in these instructions
to offset an underpayment, the overpayment
line 6 in the 4th quarter column. Enter zero
are for calendar year fi lers. Fiscal year fi lers
is considered to have been applied as of the
in the fi rst three columns.
should substitute corresponding dates.
payment due date for the quarter in which the
Item B
• If
applies, use the annualized
overpayment occurred.
Federal estimated income tax requirement.
federal taxable income determined on the
Do not complete Schedule 38-UT unless
In some cases, it may be necessary to compute
2013 Federal Form 2210 to calculate an
the estate or trust was required to pay
the interest on a separate worksheet, in which
annualized North Dakota taxable income.
estimated federal income tax for the tax
case skip lines 16a through 16d and enter the
Include any adjustments required or
year. To determine this, see the 2013 Federal
separately computed interest on line 16e in
allowed under North Dakota tax law in the
Form 2210.
the appropriate column. Attach a worksheet
calculation. Enter the amount of estimated
showing the calculation.
North Dakota income tax due by each
Instructions for Part 1
payment due date calculated in the same
For purposes of computing interest, the amount
Following are descriptions of the exceptions
manner as under the federal annualized
paid for a particular quarter must be applied
to the regular computation of underpayment
income installment method on Form 2210.
fi rst to the amount due for that quarter. If the
listed in Part 1. If one of them applies, fi ll in
Attach a worksheet showing the North
total amount paid exceeds the amount due, the
the applicable circle.
Dakota calculations.
excess must be applied to offset an outstanding
Item A: Qualifi ed farmer exception
underpayment, if any, from a previous quarter,
Item C
• If
applies, enter 25% of the
starting with the earliest underpayment. In
This exception applies if the fi duciary qualifi ed
amount on line 6 in the 1st, 2nd and 3rd
addition, in the case of a late payment, the
as a farmer for federal estimated income
columns. Enter zero in the 4th quarter
interest on line 16e must be computed on the
tax purposes in 2013 and was required to
column.
amount due on line 7 less any tax withheld
pay estimated federal income tax for the 4th
Item D
• If
applies, the amount to enter in
included on line 8.
quarter due on January 15, 2014.
each column depends on when the estate
Line 16a
Item B: Federal annualized income
or trust fi rst received income from North
installment method
Except for a late payment or where an
Dakota sources in 2013. If received after
This exception applies only if the fi duciary
underpayment is offset by a subsequent
March 31 and before June 1, 2013, enter
actually used the annualized income
quarter’s overpayment, enter April 15, 2014.
one-third of the amount on line 6 in the 2nd,
installment method to calculate the amount
If there is a late payment and the amount of
3rd, and 4th quarter columns. If received
of the underpayment and penalty for federal
the payment equals or exceeds the amount of
after May 31 and before September 1,
estimated income tax purposes for 2013.
estimated tax due, enter the date of payment.
2013, enter one-half of the amount on line 6
Attach a copy of the federal annualized
If an underpayment is fully offset by a
in the 3rd and 4th quarter columns. If
income installment method worksheet
subsequent quarter’s overpayment, enter the
received after August 31, 2013, and before
(from 2013 Federal Form 2210) showing the
payment due date for the quarter in which
January 1, 2014, enter the amount from
amounts computed for federal purposes.
the overpayment occurred. In other cases,
line 6 in the 4th quarter column.
more than one date may apply and it may be
Item C: Federal 4th quarter
Line 8
necessary to compute the interest on a separate
exception
Enter the amount of estimated tax paid and
worksheet, in which case skip lines 16a
This exception applies if the fi duciary did not
income tax withheld for each quarter. (Note:
through 16d and enter the separately computed
have to make the 4th quarter estimated federal
Do not include the income tax withheld
interest on line 16e in the appropriate column.
income tax payment due on January 15, 2014,
from nonresident individual benefi ciaries
Attach a worksheet showing the calculation.
because the 2013 federal income tax return
from Form 38, page 1, line 5.) Unless it can
Line 17
was fi led and the remaining federal income
be shown otherwise, one-fourth of the total
tax due was paid by February 1, 2014.
If there is an overpayment on Form 38, page
amount withheld is deemed to have been
1, line 11, any interest due on Schedule 38-UT
Item D: Part-year North Dakota
withheld by each payment due date. If the
will reduce the amount to be refunded. If
exception
fi duciary elected to apply an overpayment from
there is a tax due on Form 38, page 1, line 14,
the 2012 North Dakota Form 38 to the 2013
This exception applies if the estate or trust was
any interest due on Schedule 38-UT must be
estimated tax, enter the overpayment in the
not in existence for the entire 2013 tax year
included in the balance due to be paid with
1st quarter column; however, if the fi duciary
and did not receive income subject to North
the return. If there is no overpayment or tax
attached a statement to the 2012 return
Dakota income tax until after April 15, 2013.
due on Form 38, and if the interest due on
requesting the overpayment to be applied to
Attach a statement describing the situation.
Schedule 38-UT is $5.00 or more, the interest
another quarter, enter the overpayment in the
due on Schedule 38-UT must be included in
appropriate column.
the balance due, and a check or money order
for this amount must be submitted with the
return.
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