Form 3u - Underpayment Of Estimated Economic Development Surcharge By Partnerships - 2012 Page 2
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2012 Form 3U
Page
Part II
Annualized Income Installment Method Worksheet
Annualization Period
Complete one column through line 31 before com-
pleting the next column.
(a) First 3 months (b) First 5 months (c) First 8 months
(d) 12 months
19 Enter Wisconsin nonfarm net business income for
each period shown. . . . . . . . . . . . . . . . . . . . . . . .
20 Annualization factor . . . . . . . . . . . . . . . . . . . . . . .
4
2.4
1.5
1
21 Multiply line 19 by line 20. . . . . . . . . . . . . . . . . . .
22 Multiply line 21 by 0.2% (0.002). Do not enter
less than $25 or more than $9,800. This is your
annualized economic development surcharge . . .
22.5%
45%
67.5%
90%
23 Applicable percentage . . . . . . . . . . . . . . . . . . . . .
24 Multiply line 22 by line 23. . . . . . . . . . . . . . . . . . .
25 Enter the combined amounts of line 31 from all
preceding columns. . . . . . . . . . . . . . . . . . . . . . . .
26 Subtract line 25 from line 24 . . . . . . . . . . . . . . . .
27 Divide Part I, line 4, by 4 and enter the result in
each column . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28 Enter the amount from line 30 from the
preceding column. . . . . . . . . . . . . . . . . . . . . . . . .
29 Add lines 27 and 28 and enter the total . . . . . . . .
30 If line 29 is more than line 26, subtract line
26 from line 29. Otherwise, enter zero . . . . . . . . .
31 Enter the smaller of line 26 or line 29 here
and on Part I, line 5 . . . . . . . . . . . . . . . . . . . . . . .
Instructions for Form 3U
Purpose of Form – Partnerships, including limited liability
Lines 9 and 10. Complete these lines only if you have an
companies treated as partnerships, use Form 3U to
overpayment on line 8 for one or more installment periods.
determine if they are subject to interest for underpayment of
An overpayment may be carried back to the immediately
estimated economic development surcharge and, if so, the
preceding installment period and offset against an underpay-
amount of interest. A partnership must have made estimated
ment for that period. Any remaining overpayment may be
economic development surcharge payments if its economic
carried back to prior installment periods. If an underpayment
development surcharge for the taxable year beginning in
does not exist in a prior period, carry forward the overpay-
2012 is $200 or more.
ment to the next period.
Part I – Compute any underpayment of required installments
Line 11. If line 11 does not show an underpayment, and if
and the amount of interest due in Part I. Required install-
line 9 does not show a carryback of an overpayment, you do
ments are based on the smaller of (1) 90% of 2012 economic
not need to complete the form because you don’t owe any
development surcharge, (2) 100% of 2011 economic de-
underpayment interest. If line 11 shows an underpayment,
velopment surcharge, provided the 2011 return covered an
or if line 9 shows a carryback of an overpayment, continue
entire 12-month period, or (3) 90% of the economic develop-
with lines 12 through 18.
ment surcharge figured by annualizing income.
Line 18. Combine the amounts from all of the columns on
For fiscal year filers, estimated economic development sur-
lines 16 and 17 and enter the total on line 18 and on Form
charge payments are due the 15th day of the 4th, 6th, and
3, line 12.
9th months of the taxable year and the 15th day of the first
month following the close of the taxable year.
Part II – If you compute one or more installments under the
annualized income installment method, complete Part II and
Line 1. Enter the amount from 2012 Form 3, Part I, line 5.
enter the amounts from line 31 on Part I, line 5.
Line 6. Enter the amount of estimated economic develop-
ment surcharge that you paid for each installment period.
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