Nebraska Individual Estimated Income Tax Payment Vouchers - 2015 Page 4

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Nebraska Individual Estimated
FORM 1040N-ES
2015
Income Tax Worksheet
Worksheet
1 Estimated federal adjusted gross income (AGI) ............................................................................................... 1
2 Estimated federal itemized deductions (line 29, Federal Form 1040, Schedule A) ..
2
3 State and local income taxes (line 5, Schedule A) ...................................................
3
4 Nebraska itemized deductions (line 2 minus line 3) .................................................
4
5 Standard deduction (enter the Nebraska standard deduction amount):
Single $6,300;
Married, Filing Jointly $12,600;
Head of Household $9,250;
Married, Filing Separately $6,300; or
5
65 or older and/or blind (see page 5). ..................................................................
6 Enter the greater of line 4 or line 5 ....................................................................................................................
6
7 Estimated Nebraska income before adjustments (line 1 minus line 6) .............................................................
7
8 Estimated Nebraska adjustments increasing federal AGI (including non-Nebraska state and municipal
bond interest) ...................................................................................................................................................
8
9 Estimated Nebraska adjustments decreasing federal AGI (including federal bond interest) ...........................
9
10 Estimated Nebraska taxable income (line 7 plus line 8, minus line 9) ............................................................. 10
11 Estimated Nebraska income tax:
a Using the 2015 Nebr. Estimated Income Tax Rate Schedule on page 6, calculate
Nebraska tax on the line 10 amount..................................................................... 11a
b If estimated federal AGI from line 1 is greater than $258,250 (single), $309,900
(married, filing jointly), $154,950 (married, filing separately), or $284,050 (head
of household), use the Additional Tax Rate Schedule on page 6 to calculate
the additional tax. If estimated federal AGI is less than the amounts shown enter
zero on line 11b. ................................................................................................... 11b
Enter on line 11 the total of line 11a plus line 11b .............................................................................................. 11
12 Estimated Nebraska other taxes (total of taxes from Federal Form 4972 and tax on early distributions;
multiplied by .296) ............................................................................................................................................ 12
13 Total Nebraska estimated income tax (total of lines 11 and 12) ...................................................................... 13
14 Estimated Nebraska credits including:
For full year residents –
Credit for tax paid to another state.
For residents and partial-year residents –
Refundable and nonrefundable credits for child and dependent care expense; earned income credit;
credit for the elderly or the disabled; and Angel Investment Tax Credit.
For all taxpayers –
Personal exemption credit; Community Development Assistance Act credit; Beginning Farmer credit;
Form 3800N credit; and Financial Institution Tax credit. ................................................................................ 14
15 Nebraska 2015 estimated income tax (line 13 minus line 14). If zero or less, enter -0- .................................... 15
16 a Multiply line 15 by 90% (66 ⅔% if engaged in farming or fishing) ........................ 16a
b Enter the tax shown on your 2014 tax return (110% of that amount if you are
not engaged in farming or fishing and the AGI shown on that return is more
than $150,000 ($75,000 if your filing status for 2015 is married, filing separately) 16b
c Required annual payment to avoid a penalty. Enter the smaller of line 16a or 16b .............................. 16c
Caution: If you do not prepay (through income tax withholding and estimated income tax payments)
at least the amount on line 16c, you may owe a penalty for not paying enough estimated tax. To avoid a
penalty, make sure your estimate on line 15 is as accurate as possible. Even if you pay the required
annual payment, you may still owe tax when you file your return. You must also make timely estimated
payments to avoid underpayment penalties. If you prefer, you can pay the amount shown on line 15.
17 Income tax withheld and estimated income tax to be withheld during 2015 (including income tax withholding
on pensions, annuities, certain deferred income, etc.) ...................................................................................... 17
18 Subtract line 17 from line 16c. (Note: If the result is zero or less, or line 15 minus line 17 is less than $500,
stop here. You are not required to make estimated tax payments.) ................................................................... 18
19 Computation of installments
If the first installment you are required to make is due on:
• April 15, 2015, enter ¼ of the amount on line 18 here and on line 2 of Payment Vouchers 1, 2, 3, and 4;
• June 15, 2015, enter ½ of the amount on line 18 here and on line 2 of Payment Voucher 2
(Also, enter ¼ of the amount on line 18 and on Vouchers 3 and 4)
• September 15, 2015, enter ¾ of the amount on line 18 here and on line 2 of Payment Voucher 3
(Also, enter ¼ of the amount on line 18 and on line 2 of Payment Voucher 4)
• January 15, 2016, enter the amount on line 18 here and on line 2 of Payment Voucher 4.
19
Retain a copy for your records. Do not file the amended computation schedule on the reverse side.
4

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