Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2013 Page 5
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75
Form 990-W (Worksheet) 2013
Page
Line 2—Trusts
Members of a controlled group. On the 2013 Tax Computation for
Corporations worksheet, line 2, each member of the controlled group, as
Trusts exempt under section 501(a) and trusts that qualify under section
defined in section 1563, must enter the smaller of the amount on line 1 or its
401(a) are taxed at trust rates. A trust figures the tax on the amount on line 1
share of the $50,000 amount as determined by the apportionment plan
using the 2013 Tax Rate Schedule for Trusts (below). If you expect a net
adopted by the controlled group. On line 4, each member must enter the
long-term capital gain and a net capital gain, you may use the 2013 Tax
smaller of the amount on line 3 or its share of the $25,000 amount. On line 6,
Computation Worksheet Using Maximum Capital Gains Rates found in Form
each member must enter the smaller of the amount on line 5 or its share of
1041-ES.
the $9,925,000 amount.
If no apportionment plan is adopted, the members of the controlled group
2013 Tax Rate Schedule for Trusts
must divide the amount in each taxable income bracket equally among
themselves. For example, controlled group AB consists of corporation A and
If the amount on
corporation B. They do not elect an apportionment plan. As a result, each
Form 990-W,
corporation is entitled to $25,000 (one-half of $50,000) in the $50,000 taxable
line 1, is:
Of the
income bracket, $12,500 (one-half of $25,000) in the $25,000 taxable income
But not
Enter on
amount
bracket, and $4,962,500 (one-half of $9,925,000) in the $9,925,000 taxable
Over—
over—
line 2:
over—
income bracket.
Members of a controlled group may elect an unequal apportionment plan
$0.00
$2,450
15%
$0.00
and divide the amounts in each taxable income bracket in any way they
2,450
5,700
$367.50 + 25%
2,450
want. They need not divide each taxable income bracket in the same way.
5,700
8,750
1,180 + 28%
5,700
For example, if controlled group AB above elects an unequal apportionment
plan, any member of the controlled group may be entitled to all, some, or
8,750
11,950
2,034 + 33%
8,750
none of the $50,000 amount in the first taxable income bracket, as long as
11,950
------
3,090 + 39.6%
11,950
the total for all members of the controlled group is not more than $50,000.
Similarly, any member may be entitled to all, some, or none of the $25,000
Line 3
amount in the second taxable income bracket, and all, some, or none of the
Alternative minimum tax (AMT) is generally the excess of tentative minimum
$9,925,000 amount in the third taxable income bracket, as long as the total in
tax over regular tax. Corporations, see Form 4626, Alternative Minimum
each bracket for all members of the controlled group is not more than that
Tax—Corporations, for details. Trusts, see Schedule I (Form 1041),
bracket amount.
Alternative Minimum Tax—Estates and Trusts.
Members of a controlled group are treated as one corporation to figure the
Line 5
additional 5% tax that must be paid by corporations with taxable income in
excess of $100,000 and the additional 3% tax that must be paid by
The estimated tax credits include the sum of any credits allowable against
corporations with taxable income in excess of $15 million. The additional tax,
unrelated business income tax (except the credits reported on line 9). See
if applicable, will be apportioned among the members of the controlled group
Form 990-T and its instructions for information on the credits that may be
in the same manner as the regular tax brackets above. See section 1561(a).
taken.
Each member must enter its share of the additional 5% tax on the 2013 Tax
Computation for Corporations worksheet, line 12, and its share of the 3% tax
Line 7
on the 2013 Tax Computation for Corporations worksheet, line 13.
Other taxes include the sum of any recaptured tax credits. See Form 990-T
and its instructions for information on recapture of tax credits that must be
2013 Tax Computation for Corporations
included on this line.
Line 9
1. Enter taxable income (Form 990-W, line 1)
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2. Enter the smaller of line 1 or $50,000 (members
Complete Form 4136, Credit for Federal Tax Paid on Fuels, if the
organization qualifies to take this credit. Also include on line 9 any credit the
of a controlled group, see instructions)
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organization is claiming under section 4682(g)(2) for taxes paid on chemicals
3. Subtract line 2 from line 1 .
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used as propellants in metered-dose inhalers.
4. Enter the smaller of line 3 or $25,000 (members
Line 10a
of a controlled group, see instructions) .
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4
Subtract line 9 from line 8. Private foundations figure the estimated tax by
5. Subtract line 4 from line 3 .
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multiplying their estimated net investment income by the tax rate (1% or 2%,
whichever applies). Taxable private foundations and nonexempt charitable
6. Enter the smaller of line 5 or $9,925,000
trusts treated as private foundations, see O. Figuring and Paying Estimated
(members
of
a
controlled
group,
see
Tax and Part VI. Excise Tax Based on Investment Income (Section 4940(a),
instructions) .
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4940(b), 4940(e), or 4948), in the Instructions for Form 990-PF, for help in
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figuring the estimated tax. Enter that amount on line 10a. See Form 990-PF,
7. Subtract line 6 from line 5 .
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Part VI.
8. Enter 15% (.15) of line 2
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Note. If less than $500, the organization is not required to make estimated
tax payments.
9. Enter 25% (.25) of line 4.
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Line 10b
10. Enter 34% (.34) of line 6
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11. Enter 35% (.35) of line 7
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11
Figure the organization’s 2012 tax the same way you figured line 10a, using
the taxes and credits from your 2012 tax return. If you did not file a return
12. If line 1 is greater than $100,000, enter the
showing a liability for at least some amount of tax for the 2012 tax year, or if
smaller
of 5% (.05) of the excess over
your 2012 tax year was less than 12 months, do not complete this line.
$100,000 or $11,750 (members of a controlled
Instead, enter the amount from line 10a on line 10c. “Large organizations”
see the instructions for line 12 below.
group, see instructions) .
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13. If line 1 is greater than $15 million, enter the
smaller of 3% (.03) of the excess over $15
million or $100,000 (members of a controlled
group, see instructions) .
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14. Add lines 8 through 13. Enter this amount on
Form 990-W, line 2 .
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