Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2015 Page 5
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Form 990-W (Worksheet) 2015
Page
Line 2—Trusts
If no apportionment plan is adopted, the members of the controlled group
must divide the amount in each taxable income bracket equally among
Trusts exempt under section 501(a) and trusts that qualify under section
themselves. For example, controlled group AB consists of corporation A and
401(a) are taxed at trust rates. A trust figures the tax on the amount on line 1
corporation B. They do not elect an apportionment plan. As a result, each
using the 2015 Tax Rate Schedule for Trusts (below). If you expect a net
corporation is entitled to $25,000 (one-half of $50,000) in the $50,000 taxable
long-term capital gain and a net capital gain, you may use the 2015 Tax
income bracket, $12,500 (one-half of $25,000) in the $25,000 taxable income
Computation Worksheet Using Maximum Capital Gains Rates found in Form
bracket, and $4,962,500 (one-half of $9,925,000) in the $9,925,000 taxable
1041-ES.
income bracket.
Members of a controlled group may elect an unequal apportionment plan
2015 Tax Rate Schedule for Trusts
and divide the amounts in each taxable income bracket in any way they
want. They need not divide each taxable income bracket in the same way.
If the amount on
For example, if controlled group AB elects an unequal apportionment plan,
Form 990-W,
any member of the controlled group may be entitled to all, some, or none of
line 1, is:
Of the
the $50,000 amount in the first taxable income bracket, as long as the total
But not
Enter on
amount
for all members of the controlled group is not more than $50,000. Similarly,
Over—
over—
line 2:
over—
any member may be entitled to all, some, or none of the $25,000 amount in
the second taxable income bracket, and all, some, or none of the $9,925,000
$0.00
$2,500
15%
$0.00
amount in the third taxable income bracket, as long as the total in each
bracket for all members of the controlled group is not more than that bracket
2,500
5,900
$375 + 25%
2,500
amount.
5,900
9,050
1,225 + 28%
5,900
9,050
12,300
2,107 + 33%
9,050
Members of a controlled group are treated as one corporation to figure the
additional 5% tax that must be paid by corporations with taxable income in
------
12,300
3,179.50 + 39.6%
12,300
excess of $100,000 and the additional 3% tax that must be paid by
Line 3
corporations with taxable income in excess of $15 million. The additional tax,
if applicable, will be apportioned among the members of the controlled group
Alternative minimum tax (AMT) is generally the excess of tentative minimum
in the same manner as the regular tax brackets earlier. See section 1561(a).
tax over regular tax. Corporations, see Form 4626, Alternative Minimum
Each member must enter its share of the additional 5% tax on the 2015 Tax
Tax—Corporations, for details. Trusts, see Schedule I (Form 1041),
Computation for Corporations worksheet, line 12, and its share of the 3% tax
Alternative Minimum Tax—Estates and Trusts.
on the 2015 Tax Computation for Corporations worksheet, line 13.
Line 5
2015 Tax Computation for Corporations
The estimated tax credits include the sum of any credits allowable against
unrelated business income tax (except the credits reported on line 9). See
1. Enter taxable income (Form 990-W, line 1)
1
Form 990-T and its instructions for information on the credits that may be
2. Enter the smaller of line 1 or $50,000 (members
taken.
of a controlled group, see instructions)
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2
Line 7
3. Subtract line 2 from line 1 .
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3
Other taxes include the sum of any recaptured tax credits. See Form 990-T
4. Enter the smaller of line 3 or $25,000 (members
and its instructions for information on recapture of tax credits that must be
included on this line.
of a controlled group, see instructions) .
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4
Line 9
5. Subtract line 4 from line 3 .
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6. Enter the smaller of line 5 or $9,925,000
Complete Form 4136, Credit for Federal Tax Paid on Fuels, if the
organization qualifies to take this credit. Also include on line 9 any credit the
(members
of
a
controlled
group,
see
organization is claiming under section 4682(g)(2) for taxes paid on chemicals
instructions) .
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used as propellants in metered-dose inhalers.
7. Subtract line 6 from line 5 .
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7
Line 10a
8. Enter 15% (.15) of line 2
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8
Subtract line 9 from line 8. Private foundations figure the estimated tax by
9. Enter 25% (.25) of line 4.
9
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multiplying their estimated net investment income by the tax rate (1% or 2%,
whichever applies). Taxable private foundations and nonexempt charitable
10. Enter 34% (.34) of line 6
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trusts treated as private foundations, see O. Figuring and Paying Estimated
11. Enter 35% (.35) of line 7
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Tax and Part VI. Excise Tax Based on Investment Income (Section 4940(a),
4940(b), 4940(e), or 4948), in the Instructions for Form 990-PF, for help in
12. If line 1 is greater than $100,000, enter the
figuring the estimated tax. Enter that amount on line 10a. See Form 990-PF,
smaller
of 5% (.05) of the excess over
Part VI.
$100,000 or $11,750 (members of a controlled
Note. If less than $500, the organization is not required to make estimated
group, see instructions) .
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tax payments.
12
Line 10b
13. If line 1 is greater than $15 million, enter the
smaller of 3% (.03) of the excess over $15
Figure the organization’s 2014 tax the same way you figured line 10a, using
million or $100,000 (members of a controlled
the taxes and credits from your 2014 tax return. If you did not file a return
showing a liability for at least some amount of tax for the 2014 tax year, or if
group, see instructions) .
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your 2014 tax year was less than 12 months, do not complete this line.
14. Add lines 8 through 13. Enter this amount on
Instead, enter the amount from line 10a on line 10c. “Large organizations”
see the instructions for line 12 below.
Form 990-W, line 2 .
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