Fillable Montana Form Ext-07 - Extension Payment Worksheet

Montana

EXT-07

Rev. 11-07

2007 Extension Payment Worksheet

15-30-144, MCA

Your first name and middle initial

Last name

Your social security number

Spouse's first name and initial

Last name

Social security number

Complete lines 1 through 9 to determine your 2007 filing extension payment.

1. Enter 100% of your 2006 tax liability, as reported on your 2006 Form 2, line 59, Form 2M,

line 47 or Form 2EZ, line 16.. ...............................................................................................1.

2. Enter your total tax due from your 2007 Form 2, line 58 (columns A and B), Form 2M,

line 50 or Form 2EZ, line 16. If you are not able to calculate your 2007 tax due, enter the

amount from line 1 above on line 4, then go to line 5. ..........................................................2.

3. Multiply line 2 by .90 (90%) and enter the result. .................................................................3.

4. Enter the smaller of line 1 or line 3 here. .............................................................................................................. 4.

5. Enter the amount of your 2007 Montana income tax withheld that is reported on federal

Form W-2 or 1099. ...............................................................................................................5.

6. Enter the amount of your 2007 estimated tax payments. (Include in this amount, when

applicable, your 2006 overpayment that was credited to 2007 and any tax withheld by

your S corporation or partnership reported to you on Montana Form PT-WH.)....................6.

7. Enter the amount of your 2007 refundable credits. (This includes your elderly

homeowner/renter credit, film employment production credit, film qualified expenditure

credit, property tax credit or Insure Montana credit.) ............................................................7.

8. Add lines 5, 6, and 7 and enter the result here. this is your total payments and offsets. ............................... 8.

9. If line 8 is greater than line 4, enter zero on line 9. You do not have to make an extension payment. If line 8

is less than line 4, subtract line 8 from line 4 and enter the result on line 9. this is the amount that you

owe on or before april 15, 2008 to receive an extension to file your tax return. .......................................... 9.

If you have more than $1 on line 9, complete the Montana Individual Extension Payment Form and mail it with your payment to the

Montana Department of Revenue, PO Box 5805, Helena, MT 59604-5805.

General Instructions

How can I get an extension of time to file my Montana income

I have a valid Montana extension but did not pay my entire

tax return?

2007 income tax liability by april 15, 2008. am I subject to

penalties and interest on my payment?

You can be granted an extension of time for filing your Montana

income tax return if you meet both of the following requirements:

Yes, you are. It is important to note that any extension of time to file

your Montana income tax return is not an extension of time to pay

By April 15, 2008, you have applied to the Internal Revenue

your income tax liability. If you have a valid Montana extension but

Service by filing federal Form 4868 for an automatic six-month

you have not paid your entire 2007 income tax liability by April 15,

extension to file your federal income tax return, and

2008, you are relieved of late file penalties but you are not relieved

You have paid 90% of your 2007 Montana income tax

of late pay penalties and interest on your outstanding Montana

liability or 100% of your 2006 Montana income tax liability

income tax liability.

through your estimated tax payments, your withholding tax,

If you do not pay the full amount of your 2007 income tax liability

or a combination of both your estimated and withholding tax

by April 15, 2008, you will be charged a late payment penalty. This

payments.

penalty is 1.2% per month or fraction of a calendar month on the

Even though you have applied for an automatic six-month federal

unpaid tax. This penalty cannot exceed 12% of your tax due.

extension, this does not guarantee that you have a Montana

If you do not pay your tax liability by April 15, 2008, you will be

extension unless you have met one of the requirements listed in

charged interest at a rate of 8% per year accruing daily beginning

number 2 above on or before April 15, 2008. If you do not meet one

on the due date of your return and continuing until your tax is paid.

of the requirements in number 2 above, you do not have a valid

Montana extension.

How can I make an extension payment?

In order to further complete your Montana extension, you have to

You will need to complete this form to determine the amount of

check the extension indicator box on the bottom right hand corner

your extension payment. Attach your payment to the payment form

of Montana Form 2 or 2M or 2EZ and attach a copy of your federal

and mail by April 15, 2008.

Form 4868 “Application for Automatic Extension of Time to File

If you are a fiscal year taxpayer, your payment is due on or before

U.S. Individual Income Tax Return” to your Montana income tax

the 15

day of the fourth month after the close of your tax year.

return. Do not send us a copy of your federal Form 4868 prior to

filing your Montana income tax return.

When you file your Montana income tax return electronically, you represent that you have retained all documents required as a

tax record and that you will provide a copy to the department upon request.

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Montana Form Ext-07 - Extension Payment Worksheet - 2007

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