Schedule Est - Additional Charge For Underpayment Of Estimated Tax - 2014
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Additional Charge for Underpayment of Estimated Tax 2014
For Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8)
Name of trust, partnership or S corporation
Federal tax ID number
Minnesota tax ID number
Required Annual Payment
1 Minnesota tax for 2014 (from line 14 of Form M2; line 4 of Form M3; or line 5 of Form M8) . . . . . . . . . . 1
2 Minnesota withholding and credits for 2014 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Subtract line 2 from line 1 (if result is less than $500, stop here; you do not owe an additional charge) . . 3
4 Multiply line 1 by 90% ( .90) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Minnesota income tax for 2013 (from line 12 of Form M2; line 4 of Form M3; or line 5 of Form M8).
If you did not file a 2013 return or filed a 2013 return for less than a full 12-month period,
skip line 5 and enter the amount from line 4 on line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Required annual payment. Enter amount from line 4 or line 5, whichever is less . . . . . . . . . . . . . . . . . . . . 6
• If line 6 is less than or equal to line 2, stop here; you do not owe an additional charge.
• If line 6 is more than line 2, continue with line 7 or line 13, depending on which method you use.
Optional Short Method
(see instructions to determine which method to use)
7 Estimated tax payments you made for 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Add line 2 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Total underpayment for the year . Subtract line 8 from line 6
(if result is zero or less, stop here; you do not owe an additional charge) . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Multiply line 9 by 2% ( .02) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
11 • If the amount on line 9 will be paid on or after the regular due date for filing your return, enter 0.
• If the amount was paid before the regular due date, use the following computation and
enter the result on line 11:
amount on
number of days paid
X
X
.00008 . . . . . . . . . . . 11
line 9
before the regular due date
12 Additional Charge. Subtract line 11 from line 10 .
Enter result here and on line 19 of Form M2, line 14 of Form M3 or line 17 of Form M8 . . . . . . . . . . . . 12
A
B
C
D
Regular Method
April 15, 2014
June 15, 2014
Sept. 15, 2014
Jan. 15, 2015
13 Enter 25% ( .25) of line 6 in each column . . . . . . . . . . . . 13
14 Credits. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Overpayment. If line 14 is more than line 13, subtract
line 13 from line 14. Enter the result here and add it
to line 14 in the next column. Overpayments in any
quarter following an underpayment must first be
applied to making up previous underpayments . . . . . . . 15
16 Underpayment. If line 14 is less than line 13,
subtract line 14 from line 13. Enter the result
here and go to line 17 below . . . . . . . . . . . . . . . . . . . . . . 16
17 Enter the date of payment or the regular due date for
filing your return, whichever is earlier (see instructions) 17
18 Number of days between the payment due date
and the date on line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . 18
.
.
.
.
19 Divide line 18 by 365. The result is a decimal . . . . . . . . 19
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20 Multiply line 19 by 3% (.03). Enter as a decimal . . . . . . 20
21 Multiply line 20 by line 16 . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Additional Charge. Add line 21, columns A-D.
Enter result here and on line 19 of Form M2, line 14 of Form M3 or line 17 of Form M8 . . . . . . . . . . . . 22
You must include this schedule with your Form M2, M3 or M8.
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