Arizona Booklet 120es - Corporation Estimated Tax Payment

Arizona Form 120W

Line 9 - Nonrefundable Tax Credits

Forms 120, 120A, and 120S

Enter the total amount of nonrefundable tax credits to which the

1st

2nd

3rd

4th

Option

taxpayer is entitled because of events that occurred during the

Installment

months shown in the column headings used to calculate

Standard option

annualized taxable income. Calculate this amount using the

instructions for 2010 Form 120, line 20; or 2010 Form 120A,

line 12; or 2010 Form 120S, line 16. Form 99T filers, enter zero.

Option 1

Line 11 - Clean Elections Fund Tax Credit

Option 2

Enter the amount of the Clean Elections Fund Tax Credit, if

applicable. Refer to the instructions for 2010 Form 99T, line 6;

Form 99T

or 2010 Form 120, line 23; or 2010 Form 120A, line 15; or

2010 Form 120S, line 19.

1st

2nd

3rd

4th

Option

Installment

Line 13 - Refundable Tax Credits

Standard option

Enter the total amount of refundable tax credits to which the

taxpayer is entitled because of events that occurred during the

Option 1

months shown in the column headings used to calculate

annualized taxable income. Calculate this amount using the

instructions for 2010 Form 120, line 25; or 2010 Form 120A,

Line 3 - Annualization Amounts

line 17; or 2010 Form 120S, line 21. Form 99T filers, enter zero.

Enter the annualization amounts for the option used on line 1.

Line 14 - Claim of Right Adjustment (Forms 120

Forms 120, 120A, and 120S

and 120A)

1st

2nd

3rd

4th

A taxpayer that computes its tax liability under the claim of

Option

Installment

right provisions should base its estimated tax liability on the

net tax liability computed under the claim of right provisions.

Standard option

1.33333

Line 18 - Cumulative Installments

Option 1

1.71429

1.2

Complete column (a) before completing columns (b) through

(d). Before completing line 18 in columns (b) through (d),

Option 2

2.4

1.5

1.09091

complete the following items in each of the preceding

columns: line 19; Part II (if applicable); and Part III.

Form 99T

EXAMPLE: Complete line 19, Part II (if using the adjusted

seasonal installment method), and Part III, in column (a)

1st

2nd

3rd

4th

Option

Installment

before completing line 18 in column (b).

Standard option

1.33333

Part II - Adjusted Seasonal Installment Method

Do not complete this part unless the taxpayer's base period

Option 1

1.71429

1.2

percentage for any six consecutive months of the taxable year

equals or exceeds 70 per cent. The term "base period

Line 5 - Calculate the Tax

percentage" for any period of six consecutive months is the

Calculate the tax on the amount in each column using the

average of the three percentages calculated by dividing the

instructions for 2010 Form 99T, line 4; or 2010 Form 120,

taxable income for the corresponding six consecutive month

line 16; or 2010 Form 120A, line 8; or 2010 Form 120S, line

period in each of the three preceding taxable years by the

12.

taxable income for each of their respective taxable years.

Line 6 - Tax from Recapture of Tax Credits

Line 29 - Calculate the Tax

Enter the amount of tax due from recapture of the

Calculate the tax on the amount in each column using the

environmental technology facility, healthy forest enterprises

instructions for 2010 Form 99T, line 4; or 2010 Form 120,

and renewable energy industry tax credits .

line 16; or 2010 Form 120A, line 8; or 2010 Form 120S, line

12.

Line 8 - Clean Elections Fund Tax Reduction

Line 36 - Tax From Recapture of Tax Credits

Enter the amount of the Clean Elections Fund Tax Reduction,

if applicable. Refer to the instructions for 2010 Form 99T,

Calculate the tax from the recapture of the environmental

line 5; or 2010 Form 120, line 19; or 2010 Form 120A, line

technology facility credit, the credit for healthy forest

11; or 2010 Form 120S, line 15.

enterprises, and the credit for renewable energy industry.

Arizona Booklet 120es - Corporation Estimated Tax Payment - 2011 Page 10

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