Form Ar1000td - Arkansas Lump-Sum Distribution Averaging - 2014 Page 2
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1
2Instructions for Form AR1000TD Lump-Sum Distribution
General Instructions
To determine if your distribution qualifies for the
If you and your spouse are filing a joint return and each has received a lump-
sum distribution, complete and file a different AR1000TD for each spouse’s
ten year averaging method, complete Part l.
election. Combine the tax on Line 29 of Form AR1000F/AR1000NR.
After you have completed Part l of this form and determined that you qualify,
Distributions that do not qualify:
complete Part II to determine the amount of tax to include on Line 29 of Form
AR1000F/AR1000NR. With this method, the lump-sum is taxed as if you
were to receive it in equal amounts over the next ten years. You should
1)
A distribution of your deductible voluntary employee contributions and any
not use AR1000TD if the distribution was passed through an
net earnings on these contributions. A deductible voluntary employee
estate. If you do not use the ten year averaging method, report the lump-
contribution is a contribution that:
sum on Line 16 of Form AR1000F/AR1000NR.
a)
Was made by the employee in a tax year beginning after 1981
and before 1987 to a qualified employer plan or a government
The Form 1099-R provided to you by the payer reports the different parts
plan that allows such contributions,
Was not designated by the employee as nondeductible, and
of your distribution. The amounts to use in completing AR1000TD are the
b)
taxable annuity (Box 2a) and the current actuarial value of the annuity (Box
c)
Was not mandatory.
8), if applicable.
2)
U.S. Retirement Plan Bonds distributed as a lump-sum.
3)
Any distribution made during the first 5 tax years that the employee was a
Other Information
participant in the plan, unless it was made because the employee died.
4)
The current actuarial value of an annuity contract included in a lump-sum
distribution. (However, this value is used to figure tax on the ordinary
If you make an election this year, you cannot make an election another year with
income part of the distribution under the 10-year tax option method.)
respect to another lump-sum distribution.
5)
A distribution to a 5% owner that is subject to a penalty because it ex-
ceeds the benefits provided under the plan formula.
To use the ten (10) year averaging method, file Form AR1000TD with your
6)
A distribution from an IRA.
original or amended return. You have three (3) years from the due date of
your tax return or the date you filed your return to use this method.
7)
A distribution of the redemption proceeds of bonds rolled over tax free
to the plan from a qualified bond purchase plan.
8)
A distribution from a qualified plan if the plan participant or his or her
If you received another lump-sum distribution or an annuity contract distribu-
surviving spouse previously received an eligible rollover distribution from
tion for any year after 1982 and before 1989 and used Form AR1000TD for
that year, add those distributions to your 2014 distribution and figure your
the same plan (or another plan of the employer required to be combined
with that plan for the lump-sum distribution rules) and the previous dis-
tax on AR1000TD for the combined distributions. Subtract the tax you paid
tribution was rolled over tax free to another qualified plan or to an IRA.
on the lump-sum distributions for the previous years from the amount of tax
9)
A corrective distribution of excess deferrals, excess contributions, excess
on Line 18 of Part ll.
aggregate contributions, or excess annual additions.
If you shared a lump-sum distribution from a qualified retirement plan when
10) A lump-sum credit or payment from the Federal Civil Service Retirement
not all recipients were trusts, figure your tax on AR1000TD as follows:
System (or the Federal Employees Retirement System).
11) A distribution from a tax-sheltered annuity.
1. Multiply your percentage of the total distribution by the total amount
12) A distribution from a qualified plan if any part of the distribution is rolled
of distribution shown in Boxes 1, 2a, 3, and 8 of the Form 1099-R.
over tax free to another qualified plan or IRA.
2. Enter that amount on Line 1 of AR1000TD, in Part ll.
13) A distribution from a privately purchased commercial annuity.
3. Complete as instructed on the form.
14) A distribution from a Section 457 deferred compensation plan of a state
If you received more than one distribution, add together and figure the tax
or local government or a tax exempt organization.
on the total amount.
If you have questions, you may contact the Individual Income Tax Office at
(501) 682-1100.
TAX RATE SCHEDULE
If your NET TAXABLE INCOME is less than $4,300, your tax is nine tenths of one percent (.9%) of your net taxable income. [Example: If your net
taxable income is $2,750, your tax is nine tenths of one percent (.9%) of that amount ($25).]
IF YOUR NET
IF YOUR NET
BUT NOT
YOUR
PLUS
BUT NOT
YOUR
PLUS
TAXABLE
OF THE
TAXABLE
OF THE
MORE THAN:
TAX IS:
%
MORE THAN:
TAX IS:
%
INCOME IS:
EXCESS OVER:
INCOME IS:
EXCESS OVER:
2.5
$
4,299.00
$
4,300.00
$
4,999.00
$ 39.00
$ 19,000.00
$ 19,999.00
$ 576.00
4.5
$ 18,999.00
4,999.00
5,000.00
5,999.00
56.00
2.5
20,000.00
20,999.00
621.00
4.5
19,999.00
2.5
5,999.00
6,000.00
6,999.00
81.00
21,000.00
21,999.00
666.00
6.0
20,999.00
6,999.00
7,000.00
7,999.00
106.00
2.5
22,000.00
22,999.00
726.00
6.0
21,999.00
2.5
7,999.00
8,000.00
8,399.00
131.00
23,000.00
23,999.00
786.00
6.0
22,999.00
8,399.00
8,400.00
8,999.00
141.00
3.5
24,000.00
24,999.00
846.00
6.0
23,999.00
9,000.00
9,999.00
162.00
3.5
8,999.00
25,000.00
25,999.00
906.00
6.0
24,999.00
3.5
9,999.00
10,000.00
10,999.00
197.00
26,000.00
26,999.00
966.00
6.0
25,999.00
11,000.00
11,999.00
232.00
3.5
10,999.00
27,000.00
27,999.00
1,026.00
6.0
26,999.00
3.5
11,999.00
12,000.00
12,599.00
267.00
28,000.00
28,999.00
1,086.00
6.0
27,999.00
12,599.00
12,600.00
12,999.00
288.00
4.5
29,000.00
29,999.00
1,146.00
6.0
28,999.00
4.5
12,999.00
13,000.00
13,999.00
306.00
30,000.00
30,999.00
1,206.00
6.0
29,999.00
13,999.00
14,000.00
14,999.00
351.00
4.5
31,000.00
31,999.00
1,266.00
6.0
30,999.00
15,000.00
15,999.00
396.00
4.5
14,999.00
32,000.00
32,999.00
1,326.00
6.0
31,999.00
15,999.00
16,000.00
16,999.00
441.00
4.5
33,000.00
33,999.00
1,386.00
6.0
32,999.00
17,000.00
17,999.00
486.00
4.5
16,999.00
34,000.00
34,999.00
1,446.00
6.0
33,999.00
4.5
17,999.00
18,000.00
18,999.00
531.00
35,000.00
35,099.00
1,506.00
6.0
34,999.00
35,100.00
and over
1,512.00
7.0
35,099.00
AR1000TD Instr. (R 10/23/14)
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