FORM N-152
(REV. 2015)
Page 2
Part III
10-year tax option - CONTINUED
18
Current actuarial value of annuity, if applicable (from federal Form 1099-R, Box 8) ................................................
18
19
Multiply line 18 by line 10 or Schedule J (Form N-11/N-15/N-40), line 16. ...............................................................
19
20
Adjusted total taxable amount (add lines 17 and 19). If this amount is $70,000 or more, skip lines 21 through 24,
and enter this amount on line 25. .............................................................................................................................
20
21
Multiply line 20 by 50% (.50) but do not enter more than $10,000 ....................
21
22
Line 20 minus $20,000. Enter difference.
If line 20 is $20,000 or less, enter zero. ........
22
23
Multiply line 22 by 20% (.20) ..............................................................................
23
24
Minimum distribution allowance (line 21 minus line 23). ...........................................................................................
24
25
Line 20 minus line 24. ...............................................................................................................................................
25
26
Federal estate tax attributable to lump-sum distribution amount entered on line 14. Do not deduct
this amount on Form N-11, N-15, or N-40. (See Instructions) .................................................................................
26
27
Line 25 minus line 26. ...............................................................................................................................................
27
If line 18 is blank, skip lines 28 through 30 and go to line 31.
28
Divide line 18 by line 20 and enter the result as a decimal (rounded to at least three places). ................................
28
29
Multiply line 24 by the decimal on line 28. ................................................................................................................
29
30
Line 18 minus line 29. ...............................................................................................................................................
30
31
Multiply line 27 by 10% (.10). ....................................................................................................................................
31
32
Tax on amount on line 31. Use Tax Rate Schedule for 10-Year Tax Option below. ..................................................
32
33
Multiply line 32 by ten (10). If no entry on line 18, skip lines 34 through 36, and enter this amount on line 37. ......
33
34
Multiply line 30 by 10% (.10). ....................................................................................................................................
34
35
Tax on amount on line 34. Use Tax Rate Schedule for 10-Year Tax Option below. ...................................................
35
36
Multiply line 35 by ten (10). .......................................................................................................................................
36
37
Line 33 minus line 36. (Multiple Recipient of Lump-sum Distribution, see Instructions). ..........................................
37
38
Tax on lump-sum distributions. Add lines 13 and 37. Include this amount on Form N-11, line 27; Form N-15,
line 44; or Form N-40, Schedule G, line 1, whichever applies. .................................................................................
38
TAX RATE SCHEDULE FOR
10-YEAR TAX OPTION
If the amount on Part III,
Enter on Part III,
line 31 or 34 is:
line 32 or 35:
But Not
Of the
Over
Over
amount over
$
0
$
500
2.25%
$
0
500
1,000
$11.25 plus 3.75%
500
1,000
1,500
27.50 plus 4.50%
1,000
1,500
2,000
50.00 plus 5.00%
1,500
2,000
3,000
75.00 plus 6.50%
2,000
3,000
5,000
140.00 plus 7.50%
3,000
5,000
10,000
290.00 plus 8.50%
5,000
10,000
14,000
715.00 plus 9.50%
10,000
14,000
20,000
1,095.00 plus 10.00%
14,000
20,000
30,000
1,695.00 plus 10.50%
20,000
30,000
—
2,745.00 plus 11.00%
30,000