State Form 48437 - Schedule It-2210a - Annualized Income Schedule For The Underpayment Of Estimated Tax By Individuals - 2014 Page 4
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5Line 13: Enter the amount (if any) from
Example for when 2013 IT-40PNR was filed as a part-year resident: If you filed a 2013
line 19 of all preceding columns. Example:
IT-40PNR as a part-year resident of Indiana, you must figure the tax for that year on an
To complete line 13, Column D, add line 19
annualized basis. You can accomplish this by multiplying the IT-40PNR line 1 income by
12 and dividing the result by the number of months you were an Indiana resident. Then
amounts from Columns A, B and C. Enter
this amount in Column D.
figure the state tax and county tax, if applicable, by 1) subtracting your 2014 exemptions
from the result and 2) multiplying that total by the combined state and applicable county
tax rate(s) from your 2014 Indiana individual income tax return. See the example below.
Line 15: Minimum Tax Due: Enter 25
Note: See CAUTION box below.
percent of line H (from Section II) in each
column.
Example:
Line 16: Tax Carryover: Enter the amount
• Jane moved to Indiana on Sept. 15, 2013, so she was a resident for 3.5 months.
from line 18 of the preceding column.
• Her 2013 IT-40PNR line 1 income is $10,000.
This line keeps track of the portion of your
• Her 2014 total exemptions are $3,500.
average tax that was not imposed for the
• The 2014 adjusted gross income tax rate is 3.4% (.034). Her 2014 county tax rate is
previous period.
1% (for a 4.4% [.044] combined state and county tax rate.)
Line 19: Actual Estimated Tax Due: Enter
Use Steps 1 - 4 below to figure her prior year’s tax exception for line G of the IT-2210A.
the smaller amount from line 14 or line
17 on this line. This is the actual amount
Step 1 $ 10,000
2013 Indiana income
of estimated tax you should have paid
x
12
months
for this period. Also, enter this amount
$ 120,000
annualized income
on line 13 of the next column. (Because
this is subtracted in columns B, C, and
D, you will not pay a penalty on the same
Step 2 $ 120,000
annualized income
underpayment twice.)
÷
3.5
months of 2013 residency
34,286
Line 20: Indiana State Tax Withheld:
Divide the amount from line 1 of Indiana’s
Schedule 5 or Schedule F by four and
Step 3 $ 34,286
enter the result in each column.
-
3,500
2014 exemptions
30,786
Note: If your withholding should change
during the year, please show the in-
crease or decrease in the period when
Step 4 $ 30,786
the change occurred.
x
4.4%
2014 combined state and county tax rate
$
1,355*
Line 21: Indiana County Tax Withheld:
Divide the amount from line 2 of Indiana’s
* The $1,355 Step 4 amount should be entered as an exception on line G of
Schedule 5 or Schedule F by four and
Jane’s Schedule IT-2210A.
enter the result in each column. See note
above.
CAUTION: If your 2013 state taxable income (line 7 of Form IT-40 or Form IT-40PNR) is
more than $150,000 ($75,000 if your filing status is married filing separately), you must
enter 110% of last year’s tax (instead of 100%) on line G.
Example: Chris and Kate’s 2013 state taxable income from line 7 of Form IT-40 is $158,000.
They must take the following steps to arrive at the exception amount for line 7:
a) 2013 IT-40 total income tax (line 8 plus line 9) ...........................$ 6,952
b) 2013 IT-40 credits (line 13 plus line 14 plus
Schedule 5, lines 4 through 8)....................................................- 1,952
c) Subtotal ......................................................................................$ 5,000
d) Exception to the penalty percentage ..........................................x 110%
e) Amount for line 7 of Schedule IT-2210 .......................................$ 5,500
Note: If Chris and Kate’s 2013 state taxable income is less than $150,000, they would
enter $5,000 instead of $5,500 on line G.
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