Maine Annualized Income Installment Worksheet For Underpayment Of Estimated Tax Corporations And Financial Institutions - 2015
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2MAINE REVENUE SERVICES
ANNUALIZED INCOME INSTALLMENT WORKSHEET
2015
FOR UNDERPAYMENT OF ESTIMATED TAX
CORPORATIONS AND FINANCIAL INSTITUTIONS
A
B
C
D
First three
First fi ve
First eight
First eleven
months of tax
months of tax
months of tax
months of tax
year
year
year
year
1.
Annualization periods .........................................................1.
2.
Enter Adjusted Federal Taxable Income for each
annualization period (see instructions) .................................. 2.
4
2.4
1.5
1.09091
3.
Annualization amounts .......................................................3.
4.
Annualized taxable income. Multiply line 2 by line 3 ..........4.
5.
Calculate the gross tax on the amount on line 4 in
each column (see instructions)..............................................5.
6.
Maine tax. Multiply line 5 by the Maine apportionment
factor on Form 1120ME, Schedule A, line 15 ........................6.
7.
Enter alternative minimum tax for each payment
period (see instructions) ........................................................7.
8.
Total tax. Add lines 6 and 7 ..................................................8.
9.
For each period, enter the credits included on
Form 2220ME, line 1 .............................................................9.
10. Total tax after credits. Subtract line 9 from line 8. If
zero or less, enter 0.............................................................10.
25%
50%
75%
100%
11. Applicable percentage ...................................................... 11.
12. Multiply line 10 by line 11 ...................................................12.
13. For columns B, C and D, add the amount(s) from
line 19 of all of the preceding columns ................................13.
14. Annualized income installments. Subtract line 13
from line 12. If zero or less, enter 0 .....................................14.
15. Enter 25% of line 4 of Form 2220ME in each column.
(Note: “Large corporations” see instructions.).....................15.
16. For columns B, C and D, enter the amount from
line 18 of the preceding column ..........................................16.
17. Add lines 15 and 16 ............................................................17.
18. For columns A, B and C, if line 17 is more than line 14,
subtract line 14 from line 17; otherwise, enter 0 ................18.
19. Required installments. Enter the smaller of line 14
or line 17 here and on Form 2220ME, line 5 .......................19.
Rev. 07/15
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