Form Esw - Montana Individual Estimated Income Tax Worksheet - 2013 Page 3
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3Form ESW Instructions
What is the purpose of Form ESW?
I completed my estimated income tax worksheet at the
beginning of the year and did not anticipate a change
The purpose of this form is to assist you in calculating
in my income throughout the year. What do I need to
your 2013 estimated individual income tax. Estimated tax
do if my income situation changes during the year?
payments are a method used to pay tax on income that is
not subject to withholding. Examples of income that may
If your tax situation changes during the year, you will need
not be subject to withholding include self-employment,
to recalculate your estimated tax payments. Your remaining
interest, dividends, rents, capital gains, alimony, and
installment payments will need to be proportionally
royalties.
changed so that the balance of your estimated payments is
paid equally over the remaining installment periods.
Am I required to make estimated tax payments in 2013?
You are required to make estimated tax payments in 2013
How can I determine the amount of my estimated
if you expect to owe an income tax liability of at least $500
withholding that I will have in 2013?
after subtracting tax credits and withholding payments.
You can use your 2013 paycheck or pension check stubs
that you have received to date to estimate the amount of
If you are required to make estimated tax payments, these
withholding that you may have in 2013.
payments will be the lesser of:
In addition, remember to include in your payments any
•
100% of your 2012 Montana tax liability reported on
2012 overpayments that are credited to 2013, any backup
Form 2, line 54; Form 2M, line 47; or Form 2EZ, line
withholding that may be made on your behalf from a pass-
15; or
through entity, or any estimated refundable credits, such as
•
90% of your 2013 Montana income tax due.
the elderly homeowner/renter credit.
Who is not required to make estimated tax payments?
I am a nonresident or part-year resident of Montana. Do
You are not required to make estimated tax payments in
I have to make estimated tax payments?
2013 if you meet one of the following criteria:
As a nonresident or a part-year resident, you do not need
•
to pay estimated taxes if you were not required to file a
Your 2013 income tax due after credits and withholding
is less than $500,
Montana individual income tax return for the previous tax
year. If you were required to file a Montana tax return in the
•
Your 2012 tax period covered 12 months and your
previous tax year, you are required to make estimated tax
Montana tax liability was zero,
payments if you expect to owe at least $500 in Montana
•
You were not required to file a 2012 Montana income
income tax after subtracting your Montana withholding paid
tax return,
and credits that you are entitled to.
•
In 2013 you retired and were at least 62 years of age
(This exception applies only in the year you retire and
I did not make estimated tax payments in 2013 and my
for one additional year following the year of retirement),
income tax due is more than $500. Am I subject to any
•
penalties or interest on my underpayment?
You became disabled in 2012 or 2013, or
Yes, you are. You are required to pay your income tax
•
At least 2/3 of your gross income is derived from
liability throughout the year. You can make your payments
farming and ranching operations. (Montana does not
through employer withholding, installment payments of
apply a “lookback” provision in determining farming and
estimated taxes, or a combination of employer withholding
ranching gross income).
and estimated tax payments.
When are my estimated tax payments due?
If you did not pay in advance at least 90% of your 2013
When you file your return on a calendar year basis, you
income tax liability (after applying your credits) or 100% of
may prepay all of your estimated taxes for 2013 by April 15,
your 2012 income tax liability (after applying your credits),
2013, or you may pay them in four equal amounts that are
you may have to pay interest on the underpayment of your
due on the dates listed below.
estimated tax.
First payment
-
due April 15, 2013
How can I make estimated tax payments?
Second payment -
due June 15, 2013
You can make estimated tax payments using the individual
Third payment
-
due Sept 15, 2013
income tax payment voucher available at revenue.mt.gov
Fourth payment
-
due Jan 15, 2014
under Forms & Resources. You may also make estimated
tax payments online by visiting revenue.mt.gov under
If any of these dates fall on a weekend or a holiday, your
Online Services.
payment is due on the next business day.
Administrative Rules of Montana: 42.17.304 through
If you file your return on a fiscal year basis, your payment
42.17.317
dates are the 15th day of the fourth, sixth, and ninth months
of the fiscal year and the first month of the following fiscal
Questions? Please call us toll free at (866) 859-2254 (in
year.
Helena, 444-6900).
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