Arizona Form 120es - Corporation Estimated Tax Payment, Arizona Form 120w -Estimated Tax Worksheet For Corporations - 2004 Page 2
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32004
ARIZONA FORM
Estimated Tax Worksheet for Corporations
120W
(Taxpayers Filing Forms 99T, 120, 120A, and 120S)
1 Arizona tax liability - see instructions before completing this line .................................................................................................
1
00
2 Required annual payment.
a Enter 90 percent of line 1 ............................................................................................................. 2a
00
b Forms 99T, 120, and 120A - enter the tax as shown on the 2003 return. See instructions.......... 2b
00
c Form 120S. See instructions ........................................................................................................ 2c
00
d Forms 99T, 120, and 120A - enter the smaller of line 2a or line 2b. Form 120S - enter the smaller of line 2a or line 2c............ 2d
00
Required Installments - Due Dates and Amounts
(a)
(b)
(c)
(d)
3 Installment due dates. See instructions .....................................
3
4 Required installments. Enter 25 percent of line 2(d) in
columns (a) through (d) unless the taxpayer uses the annualized
income installed method, the adjusted seasonal installment
method or is a “large corporation”. See instructions .....................
4
Schedule A - Required Installments Using the Annualized Income or Adjusted Seasonal Installment Methods Under IRC § 6655(e)
Part I - Annualized Income Installment Method
(a)
(b)
(c)
(d)
First____
First____
First____
First____
Months
Months
Months
Months
1 Annualization periods. See instructions ...........................................................................
1
2 Enter taxable income for each annualization period........................................................
2
3 Annualization amounts. See instructions .........................................................................
3
4 Annualized taxable income. Multiply line 2 by line 3........................................................
4
5 Calculate the tax on the amount in each column on line 4. See instructions...................
5
6 Enter tax from recapture of tax credits for each payment period - see instructions.........
6
7 Subtotal tax. Add lines 5 and 6 ........................................................................................
7
8 Clean Elections Fund Tax Reduction ($5). See instructions............................................
8
9 For each period, enter the amount of nonrefundable tax credits. See instructions .........
9
10 Arizona tax liability - subtract the sum of lines 8 and 9 from line 7. If zero or less,
enter zero.........................................................................................................................
10
11 Clean Elections Fund Tax Credit. See instructions..........................................................
11
12 Tax liability after Clean Elections Fund tax credit. Subtract line 11 from line 10 ..............
12
13 Refundable tax credits - see instructions.........................................................................
13
14 Other adjustments - see instructions ...............................................................................
14
15 Net liability - subtract the sum of lines 13 and 14 from line 12. If less than zero,
enter zero.........................................................................................................................
15
22.5%
45%
67.5%
90%
16 Applicable percentage .....................................................................................................
16
17 Multiply line 15 by line 16.................................................................................................
17
18 Add the amounts in all preceding columns from page 2, Part III, line 54 -
see instructions................................................................................................................
18
19 Annualized income installments. Subtract line 18 from line 17. If zero or less,
enter zero.........................................................................................................................
19
Part II - Adjusted Seasonal Installment Method
(Caution: Use this method only if the base period percentage of any 6 consecutive
(a)
(b)
(c)
(d)
months is at least 70%. See the instructions for more information.)
First 3
First 5
First 8
First 11
Months
Months
Months
Months
20 Enter taxable income for the following periods:
a Taxable year beginning in 2001 ...................................................................................
20a
b Taxable year beginning in 2002...................................................................................
20b
c Taxable year beginning in 2003 ...................................................................................
20c
21 Enter taxable income for each period for taxable year beginning in 2004.......................
21
ADOR 91-5344 (03)
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